The typical residential system is a three kilowatt system and costs approximately $20,000 to purchase and install. This system can provide between half to almost all of a household requirements for power depending on usage and also on the time of year and weather conditions. Smaller two kilowatt systems are also used and cost around $15,000.
The state currently offers a tax credit up to $1,000 towards the cost of the purchase and installation of solar panels on residences. Sen. Edward M. Augustus, Jr., who represents the Second Worcester district, intends to file a bill on Murrayâs behalf to increase the tax credit.
âThis proposal will make solar panels more affordable,â said Peggy Middauth, Executive Director of the Regional Environmental Council. âWe recognize that, at the moment, the cost of installing solar panels is still prohibitive, but the cost will decrease as more people buy into the market. Solar panels are a clean energy option which is good for the environment and good for the homeowner.â
Murray concluded, âDuring the hottest days of the summer, the demand for electricity skyrockets and a number of sources are now expressing concerns about the possibility of brownouts and rationing. Also, during this time period, the electricity grid has to pay a super premium to power producers to produce additional electricity. If we had enough panels to even reduce demand by a few percentage points, it could significantly reduce the likelihood of brownouts and also reduce the price.â