Release
It’s not only about saving energy. Solar energy systems are good investments for both residential and business users. The result – a 30% per year industry wide growth rate for the past three years.
Much of this growth has been encouraged by a complex system of tax credits and utility incentives. Both Federal and State tax credits allow for some recapture of system costs. More dynamic is the utility incentive. Arizona Public Service is required to have 15% of its energy generated by alternative sources by the year 2025.
The result is a significant incentive program that literally subsidizes a portion of cost for the installation of new solar systems. The downside is that APS is developing its own large-scale solar generating projects. As these projects come on-line, APS is closer to meeting the generation mandate. Therefore, their need to provide incentives for individual systems decrease and incentives lessen.
"It is advisable to move quickly," says Corey Garrison of SouthFace Solar Electric in Carefree, Arizona. "The incentives cover a significant part of the systems cost, so it is worthwhile to go ahead while they are still available," claims Garrison.
Edward Fedoruk of Southface Solar Electric takes a different view of investing in solar electric systems. "It’s more than a matter of return on investment," he states. "With utility costs increasing on a regular basis, it makes good investment sense. You can expect an annual rate of return of 15% to 18% on your investment."
Even more appealing, investment in a typical system costing between $7000 and $12,000 can be fully recouped in 5 to 7 years. With a 25-year guaranteed life of the system, it becomes more valuable with time and adds value to a property.
It helps that public attitudes are changing towards solar energy. Sensitivity to energy usage is a growing concern and individuals look to do their part in helping minimize resource use. The advantage of solar energy is that supporting people’s energy concerns makes good economic sense.
About SouthFace Solar Electric:
Founded in 2008, SouthFace Solar Electric provides for the design and installation of both residential and commercial solar applications. For more information, contact Ken Choate, at 480-636-1800, or email info@southfacese.com. Their web site is www.SouthFacese.com.
Alternative Energy Africa is trying to reduce its own carbon footprint in 2011. Ask about our electronic subscriptions and online marketing campaigns specially tailored for individual companies.