The High Cost of Utility Power
Searches for off-grid solar systems often begin with the shock of receiving a quote for utility power. Costs to bring in grid power may be upwards of $100,000 from as little as a 1 mile from the nearest line. This one time fee covers only the connection, UP customers then pay some of the highest rates in the country for their electricity.
Todays Off-Grid
A well designed off-grid solar system will deliver energy as reliable as a grid connection. Modernize an off-grid home or camp with the industry's most robust equipment. The heart of Peninsula Solar's automated solar systems are industry leading all-in-one hybrid inverters. Monitor inverter status remotely as it seamlessly controls solar production, battery state of charge, and traditional generator inputs.
Tax Credits for Primary & Secondary Residences
Currently, 26% of the installed system cost is available to the client in the form of federal tax credit. The tax credit can be used year one or applied over five years after the system is commissioned.
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The tax credit applies to primary and secondary residences, including off-grid properties.
Financing
Michigan Saves is a home energy loan program that helps homeowners take control of their energy costs. This is a 10 to 25 year loan with fixed interest rates from 4.44-5.44% for loans up to $60,000. Once the loan is approved Peninsula Solar can begin the installment with no upfront cost to the homeowner.
Michigan Saves Finance Example
As an example, many approved Michigan Saves Loans qualify for fixed interest rates at 4.4 to 5.44% for $20,000
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A 15 year loan of $20,000 with an interest rate of 5.2% = $160.25 Monthly Payment (Before Factoring in Tax Credit!)
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A 26% Tax Credit is available for all solar projects. 26% of $20,000 = $5,200 Tax Credit
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Applying the $5,200 Tax Credit to pay down the loan over the 15 year term results in a monthly system payment of = $131.65
Warranty
Installed systems have a 25 - 30 year manufacturer warranty dependent on what equipment is chosen for the project. One of the strongest properties of solar is the strength of the warranties inherent to the materials.
