Now we haven't had everything in place for a year so we're waiting for a full year of everything. That will happen next Jan because this past Jan they did the PV installation.
Duke electric bills are a nightmare to try to read and interpret so it is hard to say what portions of the whole system have contributed what to the drop. If I had done it one year at a time, AC first, then a year later HW, then a year PV I probably would have been able to see what each part contributed to the overall bill.
Overall I did a rough calculation that based on the drop in the bill and the rebates it will break even between 7 and 8 years unless Duke increases rates (which I'm sure isn't likely <'/s>).
Finally, I believe that the subsidies prop up the manufacturers' prices and if they stopped the subsidies the prices would drop correspondingly because the greenies have installed what they are going to install and the rest of us wont install them if they are too costly. I only did it because I had the money and moving closer to retirement and watching the elec market in FL I believed that the payback pd was reasonable and I wanted to get rid of a monthly payment that was only increasing.
” electric bills are a nightmare to try to read and interpret so it is hard to say what portions of the whole system have contributed what to the drop. “
For two to four people just take the total bill and apportion it thus:
‘44% Heating and Cooling
33% Lighting and Appliances
14% Water Heating
9% Refrigerator ‘
Those numbers give a 7 year subsdized payback period for your HW heater (10 year unsubsidized).
$42/mo savings from HW heater; $66/mo from the 50% reduction in cooling costs (less annualized over the winter).
A longer payback than I’d risk, but reasonable.
I don’t think you’d see so much of a reduction in price without the subsidy, they have to make a profit.