Make a Wise Investment By Installing Solar Panels
Photovoltaic systems have become very popular with homeowners in Hawaii. They are attractive not only because of their benefits to the environment, but because they save homeowners a lot of money. For most homeowners, a photovoltaic system is one of the best investments they will ever make.
What makes a photovoltaic system from Island Pacific Energy such a good investment? Let’s look at how a typical homeowner in Hawaii saves with a photovoltaic system.
Our example homeowner has a monthly electric bill of $300. This represents about 830 kWh of electricity per month.
A custom designed photovoltaic system from Island Pacific Energy can provide 100 percent of the homeowner’s electrical needs. In this example, a 7.5kW photo-voltaic system consisting of 30 photovoltaic modules would provide 100 percent of the customer’s energy needs and cost $32,000.
Without any financial incentives, it would take about nine and a half years for the saving in electricity costs to pay for the system. Not bad, but fortunately, homeowners in Hawaii have two financial incentives to help pay for the purchase of a photovoltaic system. The first is a 30 percent federal tax credit. The second is a 35 percent state tax credit.
A tax credit is a direct reduction in the amount of taxes you owe. For example, if you owe $10,000 in taxes and you have an $8,000 tax credit, you only pay $2,000 in taxes. Or, if you have already paid the taxes, you will get a refund of $8,000.
The tax credits on photovoltaic systems are based on the total cost of the system. In this example, the photo-voltaic system from Island Pacific Energy costs $32,000. Calculating the tax credits, the 30 percent federal tax credit would reduce federal taxes by $9,600 (30 percent times $32,000). The 35 percent state tax credit would reduce state taxes by $11,200 (35 percent times $32,000 and adjusted for limitations).
If you apply the tax credits to the cost of the photovoltaic system, the time it takes to pay for the system with savings is much shorter. In this example, if you include the benefits from both the federal and state tax credits, the time it takes to pay off the system goes from nine and a half years (with no tax credits) to only four and a half years.
The return on investment on a photovoltaic system is excellent. The annual rate of return on the investment in a photovoltaic system from Island Pacific Energy is more than 25 percent per year. That’s more than 25 times the return on a savings account and more than four times the historical returns in the stock market.
Even better, homeowners can get this excellent rate of return with no money down. Island Pacific Energy offers a variety of no money down options. You can finance 100 percent of the cost of the system and use your monthly energy savings and tax credits to pay off the loan in less than five years.
No other investment is as easy and pays back as well as a photovoltaic system from Island Pacific Energy.
For more information on how you can make one of the best investments, call Island Pacific Energy at 377-4570 or email us at email@example.com.
ISLAND PACIFIC ENERGY
contact // 377-4570
email // firstname.lastname@example.org
web // www.islandpacificenergy.com