Vikas K.
Livingston, NJ |
June 2018
Electric Bill Before
$
0
Electric Bill After
$
0
System Size
0
kw
The Numbers
- Carbon Offset: 27074 Lbs/yr
- System Size: 17.28 kW
- Production: 18802 kWh/yr
- Electric Bill Before: $525
- Avg Electric Bill After: $5
The Case Overview
Vikas K. from Livingston, NJ partnered with Green Power Energy to install a 17.28 kW solar panel system, producing 18,802 kWh annually and offsetting 27,074 lbs of CO2. Vikas’ interest in solar energy was sparked by podcasts. He was intrigued by the potential for significant utility savings, especially with his high electric bills due to bitcoin mining. After purchasing the system outright, his monthly electric bill dropped to $5, with an approximate 7-year return on investment. He claims $4,000 per year in SREC income along with a federal tax credit.
Motivation for installing solar panels:
“What originally got me thinking was podcasts I would listen to on my commute that talked about solar. ‘Planet Money’ and another one called ‘Direct Current.’ This was before I owned the home, but I knew then it was possible. Before solar my bill was about $4,500/year. At the time was doing some bitcoin mining, and had my own servers running, so I thought with the house’s exposure it would be a good idea to have free electricity.”
Considerations in choosing Green Power Energy as installer:
”Being able to purchase outright. It was a good deal, the price was lower than the competitor. Because of the outright purchase through Green Power Energy, if in 5 years I want to move, I don’t want to have to negotiate with the seller. It’s part of the house, it’s done.”
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