Residential Solar Installations
Residential Roof Mounted Array
Residential Ground Based Array
What to Know About Residential Solar
Currently, 30% of the installed system cost is available to the client in the form of a federal tax credit. The tax credit can be used year one or applied over uot five years after the system is commissioned.
Federal tax form available at: 5695 https://www.irs.gov/pub/irs-pdf/f5695.pdf
Michigan Saves is a home energy loan program that helps homeowners take control of their energy costs. This a 10 or 12 year loan with fixed interest rates from 4-7% for loans up to $50,000 for solar energy installments. Once the loan is approved Peninsula Solar can begin the installment with no upfront cost to the homeowner. For more information about Michigan Saves Loan Program click here:
Michigan Saves Finance Example
As an example, many approved Michigan Saves Loans qualify for fixed interest rates at 4% for $20,000.
- ● A 12 year loan of $20,000 with an interest rate of 4% = a monthly payment of $202.45
- ● In addition, consumers get a 30% tax write-off of the installed cost
- ● 30% of $20,000 = $6,000 applied as a tax credit that can be applied the first year or spread out over the next five
Installed systems have a 25 - 30 year manufacturer warranty dependent on what equipment is chosen for the project. One of the strongest properties of solar is the strength of the warranties inherent to the materials.
The cost of a typical installation is directly dependent on how much energy the client requires. Customers that use more energy typically require larger installations. However, It is almost the case that the largest energy users are the ones that have the most to gain from installing solar energy. Efficiency of installation and the economics of scale benefit larger installations. Most importantly, before any installation is considered efficient energy consumptions is always addressed and we can help identify and address any issues.
Besides scale, other factors that influence system cost are:
- ● Ease of access of job site
- ● Difficult to access rooftops due to pitch or working height
- ● Overly rocky, wet, muddy, or uneven ground surface
- ● Distance from the solar array to the point of electrical interconnection
We pride ourselves on our ability to overcome obstacles and perform lasting and efficient installations in some of the most difficult working conditions. Don't write off your project, let us surprise you as to what is possible.