May 2015: Imperial Residence Sees Immediate Impact of Solar Installation
A 21.35 kW system installed in Imperial, Missouri has allowed local businessman Jeff Steele to join the StraightUp Solar Tribe. The two rooftop arrays installed will accumulate a $126,191 savings over the estimated 25 year life of the system. Jeff was influenced to install solar arrays after the successful installation of solar panels on the home of a nearby neighbor. Both the financial and environmental impact of the Steele‘s decision to choose a renewable source of energy made the choice to go solar an easy decision.
Installing solar panels in a residential or commercial capacity has continued to show promise both as a short and long-term investing strategy. Environmental and financial impacts are immediate as you lower electricity bills and take advantage of the endless energy opportunity that solar energy provides. Calculations show that the Steele‘s array will generate an internal rate of return of 12.9%, a rewarding investment that is tough to duplicate elsewhere. With the addition of a $55,540 appreciation in property value the Steeles can envision the various ways that solar energy will impact their future. As utility rates steadily rise, the 21.35kW system will help mitigate the cost of electricity rates and provide clean, sustainable energy well into the future.