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|
*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|
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.