Typical solar systems can last more than 30 years with 25-year warranties.
Energy savings for the long term
Business’s typically pay off their solar system in 7 - 10 years, a fast return on investment. Fortune 500 companies such as Target, Wal-Mart and IKEA have invested in solar. Market data provided by EnergySage suggests that the average commercial property with solar power can reduce overall energy cost by a whopping 75%. The average commercial property paid $1,950 in monthly electric bills; in some cases, installing solar panels can reduce a business’ power expense to just $50 per month.
Solar Savings Starts Here
If your electric bill is $1,000 per month, you use 91,404 kilowatt hours per year. In order to cover that usage, you would need 201 solar panels producing 96,078 kWh. Here’s what that looks like:
System Cost $200,196
ITC Federal Tax Credit $-60,059
Cost to You $140,137
Payback Period 7.9 year
Depreciation Tax Benefit $35,735
This means your bill goes from $1,000 per month down to the commercial minimum transmission fee of $50. That means:
$ 950 less per month
$ 11,400 less per year
$ 460,914 less over 30 years
That’s Environmental Equivalent of:
20,811 Trees Planted
Driving 66,866 less miles
Taking 766 cars off the road