In March 2012 SunPower completed the installation of photo voltaic panels at a cost of $200,000 which generates a large share of our electricity consumption.

Electrical Usage for the Year April 2014 through March 2015

Total electrical energy produced  67,716 kwh
Net total electrical energy purchased from PG&E 28,000 kwh
Originally anticipated usage 97,600 kwh
Difference (1884) kwh

*Kilowatt-hour: One kilowatt-hour is defined as the energy consumed by power
consumption of 1 kilowatt (1,000 watts) during 1 hour.

Electrical Costs for the Year April 2014 through March 2015

Total Solar Lease Payments $16,005
Total PG&E Electrical Cost  1,145
Total Actual Electrical Cost 17,150
Originally Anticipated Solar + PG&E Cost 20,429
Savings 3,279

 

The solar system was leased so there was no initial cash outlay, and the tax benefit is taken by a for-profit company. The lease is structured so that, during the seven-year term our total annual cost of electricity will be a little less than our PG&E bill might have been if we did not have the solar system. At the expiration of the lease there will be a residual value estimated at approximately $67,000 that we must pay to the leasing company in order to fully own the solar system.