North Coast Solar Stocks

October 21, 2009

Solar is getting cheap: costs state by state

Filed under: EIX — Tags: , , , — Jason @ 4:23 pm

4:23 pm EDT, Wednesday October 21, 2009

Solar companies offer rooftop panels at wildly different prices, depending on where they’re being installed and the kind of incentives available. Here’s how much installers say customers in different states would pay for a 5-kilowatt solar system.

–New Jersey: $2,625. The original $37,500 sticker price drops after applying a state tax rebate of $8,750 from the New Jersey Board of Public Utilities, Clean Energy Program, a federal tax credit of $8,625 and a loan program through the Public Service Enterprise Group that’s worth up to $17,500 for customers with excellent credit, according to Rumson, N.J.-based installer Gaurav Naik.

–New York: $13,228. The $40,250 cost is slashed after applying a federal tax credit of $8,243, a state tax credit of $5,000, a city property tax abatement worth $2,404 and other local incentives worth $12,775, according to the New York State Energy Research and Development Authority.

–Massachusetts: $21,350. The original $36,500 price tag gets cut down after applying a federal tax credit of $9,150 and state incentives of $6,000, according to San Francisco-based home solar service company SunRun Inc., which does business in the state.

–California: $22,610. The original $40,000 sticker price would be cut after applying a federal tax credit of $9,690 and a rebate through Southern California Edison (EIX), according to Foster City, Calif.-based installer Solar City.

–Arkansas: $35,000. The $50,000 price is cut by $15,000 after applying a federal tax credit, according to Bob Moore, a solar panel dealer in Ft. Smith, Ark.

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