UPPCO utility rates from the MI public service commision. Solar installation costs from the Lawrence Berkeley Lab's Tracking the Sun.

In the UP, we have some of the country's highest electricity rates. The cost of completed solar installations has dropped by over 50% in the last five years. Additionally, homeowners and businesses receive a 30% tax credit on installations.

Together this means that a properly designed and correctly installed a solar array is one of the best investment choices you can make.

UPPCO utility rates from the MI public service commision US average electricity rate from U.S. Energy Information Administration.

Not only do we pay more for electricity than virtually everyone else in the US (except for Hawaii, parts of Alaska, and some island residents), but our electricity rates have increased at over twice the national average. With the cost of electricity increasing by ~7% a year, energy conservation and renewable energy systems just make common sense.

Rate of return calculated by dividing the total cost of the system by the first year's energy savings. Therefore, as electricity rates continue to increase the rate of return continues to improve.

With high electricity rates and decreasing installation costs, an investment in solar offers an outstanding rate of return. After the tax credit, a solar installation at $3.48 per watt can yield a ~11% rate of return during the first year! In comparison, a 30 year treasury bond yields only about 3% rate of return. 

 

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