 Sunlight and energy is collected and converted into useable electricity. This is usually done by installing Photo Voltaic (PV) Solar Panels on
a building’s roof. For a specific location, the produced electricity supplements or replaces a building’s consumption, reducing utility
costs.
Benefits:
- Clean Renewable Energy – generated from natural, reoccurring, widely available resources
- Reduces pollution, offsets climate change and dependence on foreign oil
- Instant electrical savings and also protection from unpredictable rising future electrical rates
- Supports local green jobs and economy
Challenges:
- Funding for upfront costs
- Ability to realize rebates and benefit from tax incentives (including depreciation).
Project viability depends on:
Site conditions:
- Exposure to direct sunlight, build and roof orientation
- Shading and obstructions (trees, buildings and equipment on roof)
- Roofing pitch, conditions and material
Geographic location:
- State incentives
- Net metering policies: allows owners to sell access electricity during peak production back to the grid to further offset their costs and consumption.
Installation:
- Pricing of project
- Quality of equipment and workmanship
Electric rates:
- Higher utility electric rates result in quicker payback
Non-for-profit (tax exempt) organizations:
- Can not benefit from Federal Tax Credits and Depreciation write-offs.
- Usually do not have the required funding needed for upfront costs.
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