Incentives make Solar ownership profitable

Sacramento is considering measures to put 1 million solar panels on people's homes. Yet resourceful individuals are finding that they can make money photovalically already:

Just last June, Mill Valley, California, resident Greg Simon threw his first "10 Megawatt" bash, celebrating his solar electric system's generation of more than 10 million watt-hours of sun-powered energy.

But Simon had more to celebrate than the satisfaction of making his own electricity. A savvy solar shopper, he had taken advantage of several state and county renewable energy rebate programs, which he says cut the cost of his system in half and saved him almost $23,000. Although Simon's 4-kilowatt photovoltaic (PV) system cost $43,000, he immediately received $18,000 in rebates from the California Energy Commission (at $4.50 per watt). He also received state credits totaling $4,000 and a $300 rebate from the county's alternative energy program. When all was said and done, Simon says he paid less than $20,000 - less than the cost of a new car! - for his renewable energy system. And, the savings haven't stopped there: When his electric production exceeds his consumption, Simon's net-metering contract with the utility allows him to sell the excess energy back to the grid and realize a credit on his bill.