Peter Niagu, energy advisor at Paulding Putnam Electric Cooperative, consults with a member about solar generation.
Will solar save me money on my electric bill? Ray Crock, energy advisor at Guernsey-Muskingum Electric Cooperative, says, “The short answer is — of course it will save you money on your electric bill. But the real question is whether it will save you money overall, with the cost of solar accounted for.” Crock relates the story of a solar consultation and energy audit he performed a few years ago: “At that time, electricity was costing them about 14 cents per kWh, but the solar salesman told them that price was forecast to rise to 18 cents in five years. Here we are, five years later, and the cost is closer to 12.5 cents. It doesn’t make sense to invest in something that has a 20- to 30-year payback when it will be worn out in 20 to 25 years. My point is to really check the numbers — and have a sharp pencil.”
How much will a solar array cost? “There are many factors that play into the cost of a solar array,” says Jacob Atkins, energy advisor at South Central Power Company. “One of the contributors of cost is the system size — the larger it is, the more it will cost overall, but it will have a lower cost per watt. The average cost per watt for a system is between $2.50 and $3.50. Another thing to account for is the installer that is putting in the system. Each installer has a different brand of equipment and cost of labor, which will affect the overall price. Also look out for permitting and interconnection fees. The municipality you live in could have permit fees, and your utility could have a fee for interconnecting your array. If taking out a loan, pay attention to the interest rate and associated terms that will impact your loan.”
6 OHIO COOPERATIVE LIVING • MARCH 2022
