Does Solar Power For Your Home Make Financial Sense?

At least for now, using solar panels to power your home may not help you save money.

1 minute read

April 17, 2007, 12:00 PM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech

"You might want photovoltaic solar panels to generate your own electricity out of a belief that you will save the planet. But, as is the case with hybrid vehicles, you certainly should not do it to save money."

" For instance, a homeowner in New Jersey whose electric bill is an above-average $100 a month could buy a system for about $54,000, it says. After the state rebate of $18,468 and the $2,000 federal tax credit, the system would cost $33,532. And how many years will it take before you see any savings? From 11 to 22 years."

"...the most compelling argument you will hear from advocates and installers is how solar power will increase the value of your home."

FULL STORY: Financially, Solar Power for the Home Is a Tough Sell

Saturday, April 14, 2007 in The New York Times

Energy Housing United States

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