Local Examples of Residential Solar Projects
Below are project and financial information from four residential (roof-top) solar projects in Worcester. These properties participated in the Residential Rebate Pilot and installed solar systems on their homes within the last 1-2 years. As can be seen, there is a range of installed solar capacity, total project costs and incentives. (All solar installations are owned by the homeowners.)
| Project ID: | |||||
| Project Information: | A | B | C | D | |
| Location within the City | North | Central | North | West Side | |
| Lot Size | 10,300 SF | 12,600 SF | 7,700 SF | 5,000 SF | |
| Home Footprint Size | 1,400 SF | 2,500 SF | 1,600 SF | 670 SF | |
| Solar Output Capacity (kW-DC) | 6.6 kW | 7.14 kW | 5.67 kW | 4.8 kW | |
| Total Solar Project Cost | $27,000 | $26,950 | $26,565 | $35,277*** | |
| Total Solar Project Cost per kW of solar capacity |
$4,090/kW |
$3,775/kW |
$4,685/kW |
$7,349/kW |
|
| Incentives*: | State Tax Credit (Residential Renewable Energy) | $1,000 | $1,000 | $1,000 | $1,000 |
| State Rebate (Commonwealth Solar, no longer offered) | $3,250 | $3,250 | $3,250 | $3,120 | |
| Federal Tax Credit (Residential Renewable Energy) (30%) | $6,825 | $6,810 | $6,695 | $9,347 | |
| Residential Rebate Pilot Rebate (one time offer, no longer offered) | $1,174 | $602 | $1,979 | $330 | |
| SREC Value** - income estimated over 10 Years | $13,576 | $14,687 | $11,663 | $9,874 | |
| Total Incentives | $25,827 | $26,348 | $24,586 | $23,670 | |
|
Final Cost to the Owner |
$1,174 |
$602 |
$1,979 |
$11,607 |
|
|
*Please note that for a full picture of an economic advantage of having a solar system, one would also have to consider savings from avoided electrical costs and potential income from net-metering credits (when/if electrical generation exceeds electrical consumption). You can request this information from a solar company when seeking estimates. **SRECs income can come in over a 10-year period (which typically is more advantageous as it allows one to sell them at the peaks of the market) or can be paid out as a lump-sum. For this table, it was assumed that 1 kW of solar capacity (i.e. panels) would generate approximately 1,200 kWh of electricity per year. 1 SREC = 1,000 kWh. ***The comparatively higher cost of this project included significant roof repairs needed in order to prepare it for the installation. |
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One Worcester resident reported that as a result of his solar project, his home's electricity bill has decreased from an average monthly bill of $101 to just $4!
Another Worcester resident who installed a solar system on her home said it was "one of the best decisions I have ever done economically in my life," adding that she no longer has to pay an electric bill, and is actually accruing credits through net metering.
