Monday, March 9, 2009
New Solar Incentives for Affordable Multi-Family Housing
Solar installations on residential multi-family housing projects that qualify as "affordable housing" now have CSI rebates as high as $4.00 / Watt. CSI rebates are now $3.30 / Watt for common areas on these projects. This is great news for affordable housing owners. Dura-Foam Solar Center has already roofed a lot of apartment complexes that may qualify for these incentives. Most apartment buildings have flat or low slope roof geometry that makes them an ideal fit for foam roofing. With our Cool Roof system also makes the units at the upper-most floors become a lot more comfortable in the hot summer months. Plus, heating bills generally drop 20 to 50% for the units on the upper floors in the winter. Together, our roof and solar systems provide unbeatable value on service life and energy savings for our clients.
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Ok.. let's say I own some affordable housing apartments and I have some solar panels installed. Let's also say I qualify for the $3.30 per watt rebate-- let's also assume the roof of my apartment building is 4,000 square feet.
ReplyDeleteCan you give me a general range on exactly how much money I will get on my rebate, and maybe how many kilowatts my solar can generate?
The first step is to add up your yearly electricity usage in KWh's. Let's say that your ideal system size is 5 KW. This system will produce on average about 19 KWh of energy per day. The retail system cost at about $8 per KW is $40,000. The CSI rebate takes the cost down by $16,500. Tax credit incentives take the retail cost down another 30% ($12,000). The net cost to the owner after rebates and tax incentives is only $11,500. That's only $2.30 per watt, a price which is competitive with current electricity rates. The advantage is that this system will only take a few years to pay for itself, after which it will provide free energy to the property for decades. A array of high efficiency SunPower solar panels will occupy only 400 sq. ft. of roof area; that's only 10% of the roof area. On average, a 5 KW system should be enough to power about two apartment units.
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