Cost/payback analysis for the second year (2011) of operation of our 3.45kw solar array.
See Costs for an explanation of the chart.

Rebates & Incentives Loans & Cash Investment
Income Tax
Rebates
Performance Based
Incentive
SSVEC Loan Credit Card Cash
Investment
Original
Amount
$8,920 $15,840 $7,115.40 $8,893 * $5,300
Currently
Outstanding
$0 $13,666.30 $4,625.01 $284.17 $4,050.91
Estimated
Payoff Date
Nov 2011 Jan 2021 Mar 2015 Dec 2011 Sep 2015
Income / Savings Loan Payments / Cash Back
Current Year Inc Tax PBI Elec Bill Total SSVEC Loan Credit Card Cash Back
Jan 2011 $353 $92.38 $59.61 $504.99 $118.59 $386.40
Feb 2011 $353 $123.61 $56.09 $532.7 $118.59 $414.11
Mar 2011 $353 $127.16 $60.51 $540.67 $118.59 $422.08
Apr 2011 $356 $145.11 $47.49 $548.60 $118.59 $430.01
May 2011 $356 $156.52 $44.89 $557.41 $118.59 $438.82
Jun 2011 $356 $164.93 $62.86 $583.79 $118.59 $465.20
Jul 2011 $356 $127.53 $71.22 $554.75 $118.59 $436.16
Aug 2011 $356 $93.87 $89.61 $539.48 $118.59 $420.89
Sep 2011 $356 $101.17 $158.34 * $615.51 $118.59 $496.92
Oct 2011 $356 $96.31 $69.04 $521.35 $118.59 $402.76
Nov 2011 $153 $114.26 $64.54 $331.80 $118.59 $213.21
Dec 2011 $0 $93.50 $56.12 $149.62 $118.59 $31.03
Previous year
2010 $5,216 * $737.35 $414.29 $6,367.64 $1,067.31 $4,051.24 $1,249.09

* This number does not match the table from 2010 because monthly tax savings are only an estimate of federal tax saved. The number used here includes the $1,000 state tax rebate, plus we ended up with a few dollars more on the federal rebate than I'd estimated.

* Didn't pay off the credit card within a year so the 0% promotional rate expired. We transferred the balance to a different card for another year at 0% but the transfer cost us 3%. Added 93 to the original costs to account for this.

* Includes $67.45 annual true up for the 1995 kWh surplus I pushed to the grid.

We've decided to take the 60% PBI from the power company instead of waiting for the 50% rebate, The PBI is available now, but the waiting list for the rebates is currently about 3-4 years. Because the PBI is paid out over 15 years, and is declared to the IRS on a 1099 each year, it get's taxed as income and doesn't reduce the initial cost for figuring the Federal tax rebates.