Here’s how the numbers pencil out for a 5-kW rooftop solar system in Ohio:
- Installing a typical 5-kW solar system should start at about $18,750. That’s cheaper than solar has ever been, but it still might seem like a big investment. Don’t worry, because after tax breaks and energy savings, your first-year costs will be considerably less than that.
- The Feds calculate their incentive based on actual out of pocket costs, so take 30% of $18,750, for a tax credit of $5,625.
- After the tax credit we subtract your first year’s energy savings, which we estimate to be $667. That reduces your cost after the first year to only $12,458.
- But wait, there’s more! On top of the electric bill savings, you’ll earn special Solar Renewable Energy Credits (SRECs) for the first 5 years your system is running. You’ll get one each time your system produces a megawatt-hour (MWh) of electricity, and our example 5-kW will earn you about 5.5 SRECs each year. You can sell your SRECs to the utility company for about $12 a piece, putting an estimated $67 in your pocket.
- Your system will pay for itself with electric bill savings in 15 years, and you’ll see a total net profit of $10,811 before the end of your panels’ 25-year warranty. The internal rate of return for this investment is a solid 5.2%. Nearly as good and more reliable than the stock market!
- And don’t forget… your home’s value just increased by more than $9,5000, too ( the NPV of your expected electricity savings over 20 years).
- In addition to all that cash (and home value), you’ve created some green for the earth as well by not using electricity from fossil fuels. It’s like planting 93 trees a year, every year your solar power system is humming.
Keep in mind, the numbers above are based on an average home in Ohio. If you’re ready for a custom quote for a solar panel system, our network of experts are on call to assist you. Simply sign up for personalized assistance on our special solar deals page.
Our partnership with Onyx Solar gives us great honors to provide a world class product to our clients worldwide. Onyx Solar is the world’s leading manufacturer of transparent photovoltaic (PV) glass for buildings. PV Glass is used as a building material plus as an energy-generating device, capturing the sunlight and transforming it into electricity. It is made of two or more panes of heat treated, safety glass, and it provides the same thermal and sound insulation, and natural light as a conventional architectural glass. Thus, it is installed in lieu of conventional glass on building facades, curtain walls, atriums, canopies and terrace floor, among others.
By providing the same thermal performance as a conventional glass, along with clean, free electricity from the sun, buildings can drastically improve their energy efficiency, decrease O&M costs, and reduce their carbon footprint.
Onyx Solar has also developed the first photovoltaic pavers in the world, which can be used as terrace floor, sidewalks and other outdoor surfaces. In addition, Onyx Solar has developed the first photovoltaic ventilated facade in the market, which can be customized onsite.
The company was incorporated back in 2009, and it has completed more than 150 projects worldwide. It has offices in Spain, United States and China, and an annual production capacity of 2M SqFt.
Onyx Solar counts on ISO and UN-EN certifications, as well as IEC and UL product listings, which ensure the quality of the product and the process.
Considering all milestones achieved, Onyx Solar has become the most awarded photovoltaic company in the world, with over 40 prizes and mentions.
THE MOST INNOVATIVE GLASS OF THE WORLD
PV glass shows the same mechanical properties as a conventional, architectural glass used by buildings. However, it also generates free and clean energy thanks to the sun (active properties). In addition, it can be customized in shape, color, size, thickness, and semi-transparency degree, easing its integration within any project and design.
Given these properties, PV Glass maximizes the performance of the building’s envelope. It is able to completely offset the energy demand for HVAC equipment, and drastically reduce the cost of electricity.
A GLOBAL COMPANY
Our photovoltaic glass has now been installed in over 150 projects across the planet, covering all markets.
(Government, Healthcare, Commercial, Transportation, Retail, Corporate and Education).
Several of our clients are well-known corporations who have led the adoption of photovoltaic glass within their industries. They are Apple Inc. Novartis Pharmaceuticals, Samsung, Coca-Cola, Heineken, Pfizer, G.W. University, and many more.
Also, we provide regular design assistance to prominent architectural firms such as Foster+Partners, Gensler, Perkins+Will, S.O.M., A.S.+G.G., among others; and we have also partnered together with general contractors such as Turner, Skanska, Jacobs, KPRS, ACS and Ferrovial, to deliver our photovoltaic glass all around the world.
CERTIFIED QUALITY
Safety first; Onyx Solar is committed to deliver high quality products only, which meet international standards, codes, and safety guidelines. Accordingly, its production process has been verified by independent certifying bodies.
The company has deployed in its production process an Integrated Management System that has obtained the respective certifications according to the ISO 9001:2005 standard (Quality Management), and the ISO 14001:2015 standard (Environmental management).
