5KW Solar System: Investment, Total Energy Output and Savings
updated at : Tuesday, January 17th, 2017
Reduce your initial investment!
A 5kW solar energy system will cost about $20k-$25k. Your investment will be reduced when you get your federal and state tax rebates. Federal tax rebates are fixed at 30 percent but state solar rebates vary state to state. Let us consider for our example that your renewable energy friendly state also provides 30 percent tax rebates. For easy math, let us consider that our 5kW solar system installation cost is about $20k. When you subtract $12k (federal and state) as rebates from your total investment, the price is reduced to $8k. Your 5kW solar system is likely going to offset about 60-90% percent of your total electricity needs and you still need to pay about 10-40 percent. If you are paying 11 cents for a kwh of electricity, you are going to save about $880 a year. In about 9 years you are going to recoup your $8k investment.
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