Monday, November 9, 2009

Solar Panels for Rent

Looking at the rain pouring down outside my window, it is an odd time to be thinking about solar panels in the Pacific Northwest. Solar power is an exciting developing technology, but the huge upfront cost of solar currently prevents it from becoming more widely used.

The solution from Citizenre REnU:
"Citizen REnU program packages solar power for you in a simple and smart way. Plainly put, the Citizen Corporation pays for, installs, owns and operates the solar installation."

Citizenre Corporation has a calculator to figure your savings and the savings to the environment for renting their panels. Here is an example of savings for someone living on San Juan Island currently paying $60 a month in electricity bills.

Savings Forecast Today's Rate End of Year-5 End of Year-10
Citizenre REnU 7.2 cents 7.2 cents 7.2 cents
Current Electricity Provider 7.2 cents 8.7 cents 10.5 cents
Total Savings
$443.75 $1739.99
If you were to invest all of the money that you saved over the term of a 10-year contract, and you received the investment grade bond yield average of 9.44%, then your decision to participate in the REnU Program would yield $1,977.59 by the end of your contract.
Additionally, over that same time period, your REnU will eliminate 16 tons of CO2, 61 lbs of NOx, 175 lbs of SO2, 7 lbs of PM, 1 lbs of VOC, and 12 lbs of CO. That is equivalent to taking approximately, 3 automobiles off of the road, or planting 47 trees.

1 comment:

  1. You might qualify for a new government solar program.
    Find out if you qualify now!