More on Solar Project

Well, it's been over six months and so far we have generated over a megawatt more than we have used with only 25 panels. We'll see if the cloudy cold days of winter use that up or not.

So far, we have found several ways to regain our investment. First of all, we have been approved for our grant for stimulus money through the State (Department of Mines, Minerals, and Energy) for over $10,000. Our initial cost was $30,000, so another nearly $10,000 tax credit (which we will use) is coming on this year's taxes. The rest wil be recuperated from selling the excess power to Northern Neck Coop and selling SRECs.

SRECs (Solar Renewable Energy Credits) are credits that anyone who generates solar power can sell to a broker that in turn sells them to utility companies so that they can meet the mandatory percentage of either generating solar power themselves, or subsidizing those who generate (i.e. homeowners like us). For more information on SRECs, see: SREC TRADE. Payment is based on megawatts produced each quarter. We have produced over 4 megawatts in 6 months.

But the best part of all is NO electric bill other than the $20 per month to basically "rent" the net meter. Boy, is it fun watching that thing roll backwards.