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California Breaks It's New Solar Rebate Program
Los Angeles CA (SPX) May 11, 2007 The California Solar Rebate program has snuck in regulations that makes ROI on solar harder to reach. The problems relates to forcing people who go solar to use Time-of-use metering. According the Los Angeles Times the rebate reservation requests have dropped 75% compared Q1 2006. My business has noticed a sharp increase in interest in solar, but more of the clients are scared to do it because of the time-of-use rule. In southern California Edision's electrical territory the summer time-of-user peak rate is 52 cents a kilowatt hour and the off-peak rate is 28 cents per kWh. For example, if you use 1000 kWh a month and build a solar system to make half that amount (500 kWh) you will only save about $300.00 a year. This leaves you with about $2100 a year in electrical bills. If you build a system that makes 1,000kWh a month then your bill goes to zero. Each one KW of solar panels in Southern California generates 150 kWh a month on average. Each KW costs $10,000 installed before rebates and $7,500 after rebates and tax credits in California. A 3KW system will generate 450 kWh a month and costs $18,000 installed after rebates and credits. So the above example of the 1,000 kWh a month user with a 3KW system has a 60 year payback period. The 6KW system at twice the cost has a 15 year payback period. That's if electrical rates don't ever rise...
Why is this happening? The CA Solar program is currently like a wolf guarding the hen house. The utility companies hate consumer solar and are using their lobbying power to derail solar anyway that they can. Besides sneaking in outrageous rules, I have direct experience with utility companies telling my clients that they'd be crazy to go solar. When I started my solar business in 2000 one of the solar-old-timers told me to prepare for the roller-coaster ride of the rebate program. He stated to me that the big players will do everything they can to get rid of new players. He was right and I am glad I listened and planned accordingly. In fact he told me that back in the seventies solar was so controversial that a professor at a US university was fired for promoting it. It seems the pressure came from the Oil companies that were big sponsors of the school. The California goal is 1,000,000 solar roofs in 10 years. To date there has only been about 20,000 solar installations -- only 980,000 to go. Solar works. The warranty on solar panels state that the panel will be producing at 80% of what it is doing today in 25 years. The panels will drop about 1% a year thereafter. So in 50 years your solar panels will be producing at 55% of what they are doing today. Please take a moment to Call the governator of California and tell him that he needs to quickly change this time-of-use rule. The governor's office number is: 916-445-2841. Related Links California Solar Rebate program All About Solar Energy at SolarDaily.com
Investors Moving Into Rapidly Expanding Solar Power Industry
New York NY (SPX) May 10, 2007Demand for photovoltaic solar power, which directly converts the sun's radiation into electricity, is expected to grow by 40 per cent per year by 2011, offering opportunities for investors who can ride out near-term bumps, according to a new report from RBC Capital Markets, "Investing in Solar Now." |
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