$1,200
75% to 99%
of electricity
$14,700
8.2%
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In Process and To Be Updated at Completion of Install
$1,200
75% to 99%
of electricity
$14,700
8.2%
Property
- Owner:
- Kevin James Moderie
- Type:
- Residential
- Address:
- 3725 Palomino Road NW, Somerset, OH 43783
- Size:
- 1,800 sq ft
- Energy need met:
- 75% to 99% of electricity
Technology
- Type:
- Solar PV
- Installed:
- May 2019
- Size of System:
- 8.085 kW
- Monitor performance:
- https://www.facebook.com/HammerieFarm/
- Purposes:
- To generate electricity
Financial Details
- Gross Cost of System:
- $21,000
- Value of Tax Credits:
- $6,300
- Net Cost of System:
- $14,700
- Annual Savings:
- $1,200
- Own or Lease:
- Purchase with Loan
- Additional Financial Notes:
- At first we were going to go with greensky. However the reviews were not good and it was a 20 year loan at 6.99%. Paying only regular payments, we would have had $21k towards principle and $18k in interest. Instead we found a loan through LightStream (SunTrust) with a 7.79% interest and a 5 year term for total interest of $4.4k based on regular payments. I have good credit in the high 700s, with a mortgage, and another loan at $10k.
Professionals & Suppliers
- Products:
- Q.Antum Q.Peak Duo L-G5.3 385 Watt Panels
- Installers:
- Wind Turbines of Ohio
- Financing:
- LightStream
What You Need to Know
Description:
Ground system behind my pool. The wiring will go through the ground, then through my basement, and finally the garage where the power is. We will have 21 panels at 385 Watts each for 8.085 kW. The solar panels are Q.Antum Q.Peak Duo L-G5.3.
Other Benefits:
We are a small time farm that practices organics and would like to show we are practicing green energy as well. Plus in 5 years we will no longer have a power bill or a loan.
Maintenance Requirements:
Not sure at this time.
Efficiency or Sustainability Improvements:
We will consider solar tubes next for lighting. Eventually we would like to upgrade our system and go get off of gas appliances. We currently have a gas water heater and gas for heat. We pay about $500 to a $1,000 a year in gas.
My Motivation:
1 - The 30% tax incentive. 2 - My brother recently installed solar. 3 - Solar is the future for energy in my opinion
Advice:
Get a couple quotes. Then get pre-approved for a loan if you can. That will save you a ton of money in the long run. Find someone you are most comfortable with to do the job.
Experience with Installer:
In process. We will try and update once completed.
Additional Notes:
My system is in the early stages. I'll try and update this once it's complete.
Open House Info:
I work from home if you want to see the system when it's complete, just come by. It is on the south side of the house by the pool.
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