Last year I got angry when the power company raised my rates.
I've talked with several solar design operations to change my hobby farm to off the grid. They have shared with me several ideas to get this project done. Since I have a small farm, I discovered I qualified for some tax credits and grants. The information is a high level off the grid summary of how it could work for my place.
The costs do not include changing over to propane for the furnace, dryer, stove and hot water heater.
---------Part of the email-------
Let’s size your system at 10 kW. I am going to assume we can consider your needs related to farm use and thus consider it a business expense. The system should generate approximately 13,000 kWh for the year at 13.4 cents per would arrive at annual savings of $1742. Here’s the breakdown:
Approximate installed cost $60,000
USDA REAP Grant - 25,000
Fed 30% investment tax credit - 10,500
Accelerated fed depreciation - 14,325
(assuming farm is in 30% tax bracket)
Energy savings in first year - 1,742
Total payoff remaining after year one: $8,433 leaving an additional 4.8 years to pay back. T
That payback does not include the fact that energy prices are undoubtedly going to rise in that period, shortening the payback even more. The panels are guaranteed to produce power for 25 years and likely will produce power beyond that, giving you 20+ years of free energy.
I've talked with several solar design operations to change my hobby farm to off the grid. They have shared with me several ideas to get this project done. Since I have a small farm, I discovered I qualified for some tax credits and grants. The information is a high level off the grid summary of how it could work for my place.
The costs do not include changing over to propane for the furnace, dryer, stove and hot water heater.
---------Part of the email-------
Let’s size your system at 10 kW. I am going to assume we can consider your needs related to farm use and thus consider it a business expense. The system should generate approximately 13,000 kWh for the year at 13.4 cents per would arrive at annual savings of $1742. Here’s the breakdown:
Approximate installed cost $60,000
USDA REAP Grant - 25,000
Fed 30% investment tax credit - 10,500
Accelerated fed depreciation - 14,325
(assuming farm is in 30% tax bracket)
Energy savings in first year - 1,742
Total payoff remaining after year one: $8,433 leaving an additional 4.8 years to pay back. T
That payback does not include the fact that energy prices are undoubtedly going to rise in that period, shortening the payback even more. The panels are guaranteed to produce power for 25 years and likely will produce power beyond that, giving you 20+ years of free energy.
