The point is, let’s not throw the baby out with the bath water. I hear pundits talking about how solar doesn’t work, there is no business or it’s some kind of scam. That is simply not true. Here on Long Island, solar is a booming industry and the customers are making out very well. It’s one of the only things that are working in this economy. I’m talking real jobs and real savings. When people save money, that means more money can be spent in the economy. More consumers mean more jobs and the cycle continues. Granted, this is small scale at this time, but it is positive. Not to mention the environmental aspect. Who can argue that a clean environment and a reduction in the need for foreign oil is an important cause?
Opponents of solar energy and people who believe it isn’t working are thinking in the old paradigm of central generation. Like a power plant generates electric for the city. In that model, solar is marginally effective and expensive. To build a solar farm to generate as much power as a traditional, fossil fuel plant will require more real estate than is practical using today’s technology.
The only way to move the technology forward, without government grants, is to make the business profitable so there is money for research and development. The way to make solar profitable is to create customers, lots of them. Not in large scale “jigawatt” projects but in small scale, grid tied, residential and commercial arrays. This is what we call local generation. This model IS working.
It is a simple and effective plan. The subsidies, (tax credits and LIPA rebates), are in place to make solar economically attractive to the middle market. Customers wishing to save money on their electric take advantage of the subsidies and projects get done. Companies earn money and hire people. This stimulates the economy and creates more jobs and therefore more tax payers. As the market expands, solar manufacturers and installers get competitive and pricing comes down. Eventually the prices reduce to a point where the subsidies are no longer needed. The rebates typically come down correspondent to the price drops and the tax credits are based on what you paid, so they automatically come down with pricing.
This is not a massive government bailout. It’s a just a tax credit. Not much different than your child tax credit. Why does LIPA participate in this? Simple, it is extremely more cost effective for LIPA to pay a portion of your system, than it is to build another power plant, like say, Shorham for instance.
See what I mean? Local generation, small arrays on rooftops, a few here, a few there, next thing you know, one megawatt, two megawatts and so on. This is the way economies come back. Good ideas, small steps. Let’s get busy.
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To me, solar is a great entry level asset. For a relatively small investment, you will have an asset that produces free electricity. Being that electricity is a necessary commodity, that’s money. It’s actually better than money because it’s not taxed. Solar is also a passive income. Once installed there is virtually no maintenance. It just sits up on your roof, an otherwise dead spot on your house, and produces energy. After the novelty wears off, with a 15 – 19% rate of return, you’ll be making money you won’t even think about it. NOW your house IS and asset.
When I was a kid, Nixon had us wearing those black "WIN" buttons. It was an acronym for "Whip Inflation Now". . . Well, that didn't work. I don't remember if Nixon was actually responsible for that but he was president so we'll blame him. OK, does anyone other than me remember that? I was like 8 and even I thought it was ridiculous. If you remember it, send me an email.
Gas prices will soon be at record highs. We've seen this before. Not too long ago, gasoline prices were at or near $4.00. Being that gas prices are linked to oil prices and oil is used to make electricity, we expect the dreaded "fuel sir charge" to rear its ugly head very soon.
Control is one of the most important aspects of financial stability. You may not be able to control the price of butter, but you can gain control of your electric bill with solar. The price of the sun will remain free, this I could assure you.
Call L.I.P.S. at (631) 256-6022 or go online for your free estimate www.LongIslandPowerSolutions.com
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http://www.lipower.org/residential/efficiency/renewables/solar-blockgragh.html
So, here's the deal. If you are considering solar for your house or business, you can get your application in to LIPA now. This will get you in line so you don't miss out on the higher rebate. You can withdraw your application, or file a revision at any time. This way, you can continue your research and make sure you can get your design to where you want it to be. You can even change contractors if you wish.
LI Power Solutions is happy to file the application, for non (future) customers for a nominal fee. The fee is: $100 for LIPA plus a $50 filing and drawing fee. If you use L.I.P.S., the fee will be refunded to you. Call today, we expect demand to be high.
Now we are in a perfect storm, but the good kind. Here is what is driving the solar phenomenon on Long Island:
1. Equipment prices have come down drastically. A combination of the lower price of silicone and the high demand that spurred mass production, have driven prices down a lot this year.
2. LIPA rebates are still in place. Although not as generous as they once were, they are still substantial. The main reason for the drop in rebates has been the unexpected demand. LIPA wants to keep the program going but resources are limited. This kind of puts the pressure on clients to get their paperwork in before the rebate reduces. We can do that for you for a nominal fee and if you want to, you can withdraw at any time.
3. Sizable state and federal tax credits are available. NY State will pay 25% of the cost of your PV system, capped at $5000. The Federal government will pay 30%, no cap. The debate on whether the cost is pre or post rebate is still ongoing but either way, it’s a nice tax break. Between the LIPA rebate and tax credits, someone else is paying about 80% of the cost of your system but you are getting 100% of the benefit. Pay back periods are between 5 and 6 years in most cases.
4. Many towns have simplified or eliminated the permits needed for solar power. Some towns dropped the requirement all together, and some do not require a town inspector to come on your property. They will accept a private engineer and/or electrical inspection. This way you don’t have to worry about a fence that is 6 inches past where it is supposed to be or whatever else the town can bug you about. Call to find out what your town’s policy is.
5. Low interest rates. If you need to finance, the rates are at a historic low right now. Plus through our partnership with Sperry Federal Credit Union and The Great Green Race, you receive an additional .25% discount for green projects. If you have money saved, you’re not earning anything significant in the form of interest from your bank, so why not invest in solar and enjoy a 15 – 20% rate of return?
6. Solar power just makes sense, in every way. No pollution, no noise, no foreign oil, no oil spills, no danger of explosion, no significant environmental impact at all, and NO LIPA. What’s better than that?
It’s just a wonderful time for solar power on Long Island. Call Long Island Power Solutions today to find out how Solar can benefit you. 631 256-6022. www.LongIslandPowerSolutions.com
]]>When you have to, (or want to) put more money in your pocket there are two ways to do it. One is to earn more, either by labor or investment. This option, though a good one, involves income tax. The other option is to save money on the things that you absolutely need. The bare necessities in this country are: Rent or mortgage, food, and utilities. When the first of the month rolls around, you have to pay these bills. Doing without electric and heat is not an option. So, if you can eliminate one of those bills, and still get the service you need, that is a solid decision.
OK, you know we are in the solar power business so let’s get down to it. If you can eliminate or reduce your LIPA bill, for let’s say, $250 per month, that is the same as earning $250 per month ($3000 per year) with one exception, no income tax due. You don’t get a 1099 for saving money. However the money is just as real, you can spend is as you see fit. You can even invest it in an IRA if you want, and get a tax deduction in the process. The next logical question would be; how much would you have to invest in a similar investment to get $3000 per year? Well, let see, in order to net $3000 per year after taxes, you would need to earn $4167 per year (28% tax bracket). To receive that number per year with no market risk, you can use a CD. The best rate I could find today is 3.05% on a 5 year CD. To earn $4167 per year, at 3.05%, you would have to invest $136,650. Then you would pay your taxes every year and net $3000.
To net $3000 per year with an investment in solar power, you would need to invest $16,168 (after LIPA rebate and tax credits). That is an 18.56% rate of return with no taxes or market risk. Of course, if you don’t want to use your own money, financing is available. Admittedly, all homes are different and the numbers will change with conditions like shading, and orientation but regardless, it beats 3.05% every day of the week. As an added bonus, solar will increase your home’s resale value and not increase your property taxes.
The only downside I could see is you can only do so much. There is only so much space on your roof and your LIPA bill is what it is. If you could invest $136,168 in solar, you would perceivably receive $25,362 per year, all things being equal. The only other thing is that it does take some effort. You will have to sit with me and go over the numbers, but everything else, permits, installation, and maintenance, will be taken care of by Long Island Power Solutions.
So what is stopping you? All you need to do is call L.I.P.S. at (631) 256-6022 or go online for your free estimate www.LongIslandPowerSolutions.com .
]]>They also added a $100 application fee. That is actually a good thing. This will keep the frivolous applications down to a minimum so as not to bog down the system. This will be a great help in getting commitment letters back in a timely fashion. LI Power Solutions is happy to pay that fee for our customers.
The question becomes; How serious are you about doing solar in your home or business? If you think you are at least better than 50/50, you might want to invest the hundred bucks and put in your application. LI Power Solutions is willing to submit your application for the $100 LIPA fee and a $50 drawing fee. If you decide to go ahead with the project, those fees will be returned to you.
After submitting the application, it takes LIPA at least 2-3 months to return the commitment letter. Then you have 6 months to do the project. If you decide against it, you can withdraw your application at any time. This will buy you about 8 – 9 months to decide. If you decide to change anything on your application, including contractors, that is done with a simple revision application. The key is to get your name in the system before the rebates drop again.
Please call me, Joe at 631 256-6022 to discuss this further.
Or Visit: www.LongIslandPowerSolutions.com
]]>The concept of solar power is pretty simple. Yes, it costs money to purchase and install, but A] Someone else pays for 80% of that cost in the form of rebates and incentives, and B] Once it is paid for, it costs nothing going forward. The sun is free, and there are no fuel costs or real maintenance associated with your PV system. It just produces free electricity for the warranty period of 25 years at least. Industry experts believe that a quality PV system should last 40 years or more. There are no moving parts or fancy microprocessors that can cause problems.
If you want, you can eliminate the upfront cost by using financing. If you go that route, you use the money you save on your electric to pay the off the system. In this case we can set it up so not only will you not use any of your own money, you will have more money in your pocket from the very first month.
My favorite part of all this is when rates and taxes go up, and the price of fuel fluctuates, you’re unaffected. You are getting free electricity from the sun. Remember when they first imposed the fuel surcharge? The price of a gallon of gasoline was about $4 at the time. Did you really need this surcharge? Unfortunately, if you wanted electric, you had no choice. A PV system will free you from all that. Fuel costs can double, triple, even quadruple and you won’t care a lick. Well, at least for your electric bill.
To help you save money on your natural gas bill, we hooked up with Ameristar Energy. Switching to an ESCO like Ameristar will get you a better price on your gas supply cost, as well as save on some of the taxes that are embedded in your gas bill. There is no cost or obligation to switch, but you can save from 8 – 12% on your National Grid Bill.
I haven’t figured out how to eliminate all of your household bills yet, but I’m working on it.
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In an effort to save energy costs, and reduce green house gasses, you’ve tried several popular methods. You bought those squiggly light bulbs. You replaced your old appliances with new Energy Star models. You also purchased a setback thermostat. Those are great ideas, but then you commissioned a new big screen TV and surround sound and your bill still went up.
Conserving energy is always a good idea, but it only puts a small ding in the problem. Regardless of how you try to save on electricity, the bill keeps coming. It may go down a little, but it isn’t long before it is right back to where it was, and going back up. The only way to eliminate the problem is to generate your own power, and use a clean, renewable source.
The time has come to get involved in Solar Energy. LIPA rebates and tax incentives are in place, making Solar Energy a wise and economical decision. Long Island Power Solutions offers complete, installed, PV Solar systems. A PV Solar system can virtually eliminate, or at least drastically reduce your LIPA bill. This becomes more valuable every year as rates and taxes go nowhere but up, with no relief in sight.
Solar power is also clean quiet, and safe. “Over 25 years, a 3 kilowatt PV system in NY will eliminate 80 tons of carbon dioxide; 824 pounds of sulfur dioxide; and 307 pounds of nitrogen oxides.*” That is a much bigger impact that a whole house full of squiggly light bulbs. There is no turbine noise, engine noise, CO2 emissions, smoke stacks, gas explosions, nuclear accidents, oil slicks, or terrorists associated with solar power. There is no possible way to run out of fuel. If we did, we would have much bigger problems than our electric bill.
Galileo said. “With all the work the sun has to do every day, it has no problem turning a few grapes into raisons.” That’s true, and it will have no problem powering you home either. With a combination of LIPA rebates, income tax credits and smart financing, Long Island Power Solutions has come up with a way to have a PV solar system installed in your home, with no out of pocket costs. GO GREEN .. SAVE GREEN. Call 631 256-6022 for a free estimate.
www.LongIslandPowerSolutions.com
What do we think about when solar power comes into the conversation? The first thing I thought about was big black panels on a roof. I saw solar panels on a neighbor’s roof many years ago. I have to admit, I thought the whole thing was strange. I remember thinking, “how does that work?” and “that thing can’t possibly provide electricity for his house”. I dismissed the whole idea in my mind. That was about 20 years ago. I never gave it much thought after that.
Recently solar power is becoming more prevalent. Proponents of solar power have differing motives, but they all agree that solar power makes sense. There seem to be three camps:
1] The Al Gore Contingency. This group is motivated by the fear of global warming. It is their argument that green house gasses, produced by fossil fuel emissions, will cause the earth to heat up and melt the polar caps. This will cause catastrophic climate changes, and will eventually render the earth uninhabitable. Whether you believe in global warming or not, nobody likes pollution. Solar electricity contributes no green house gas, nor does it create pollution.
2] The Pickens Army. This faction is determined to rid America from the dependence of foreign oil. Oil billionaire, T. Boone Pickens began this campaign on the internet, and is mainly focused on wind power, but solar power fits as well. The Pickens Plan advocates using renewable, free power sources, therefore using less oil. The motivation here is security. One belief is that buying oil from Arab nations may fund terrorists, but it also has to do with American financial security.
3] Just Plain Americans. People, who don’t care much about global warming, or foreign oil dependency, still know they pay too much for electricity, especially if they live in NY metro or California. Solar electric systems are expensive, and not economical at first glance, but the combination of utility rebates and tax credits bring the price down to a point where it makes economical sense. To have a system installed, an average household will invest between $5000 and $12,000, (out of pocket, after rebates and tax credits). To simplify the numbers, a $10,000 investment can yield a savings of say, $2000 per year, every year. That is a 20% rate of return on investment. Not too shabby considering there is no investment risk or taxes on the savings. If you invested $10,000 anywhere else, in order to receive that kind of return, you would need to take on some sort of investment risk. Unless of course, you are in a Ponzi scheme and you get out early. Even if you were able to achieve that rate of return, you would still need to pay taxes on the profits. Ben Franklyn said “A penny saved is a penny earned”. He may have been correct in 1775, but now a penny saved is better than a penny earned because it is not taxed. Not to mention, has anyone ever seen electric rates actually go down, long term?
I am finding that many Americans fit in two, or even all three camps. Their priorities may be different. Some say, “Hey, if I can save money, saving the planet and lowering the dependence on foreign oil is a bonus”. Others say the same thing only reversed, depending on their perspective. It makes no difference to me what motivates you, I just think it’s a great idea, and you should look into solar power for your home or office.
Please visit: www.LongIslandPowerSolutions.com