INTRODUCTION Net Meter and Production Meter installed by Xcel Energy A solar electric system installed on a home or business and connected to the electrical utility company s service at the same time is called a grid-tie solar system. A system like this uses net metering. When the solar system is producing more energy than you re using during the day your electric meter spins backward, giving you credit for generating your own electricity. When you start using electricity in the evening, your meter spins forward, drawing from the utility grid. Because the solar system produces some or all of your electrical power, you only pay the utility company for the net energy that you use from the grid. An additional production meter installed by the utility is required for every grid-tie installation in Xcel Energy s service territory. There are no batteries used to support most grid-tie systems; the backup is effectively provided by the utility grid. The solar system operates only when the grid is working normally. INCENTIVES SUMMARY NET METERING As detailed above, this solar system will offset your electricity usage on an year-round basis by banking retail-value credit for your excess kilowatt-hours in the high-production months like July and August for utilization in the lower-production months like January and February. 30% FEDERAL TAX CREDIT Your renewable energy system purchase serves as the basis for a 30% federal tax credit. This is a credit against your tax liability, rather than a deduction, providing a substantial benefit. ELECTRIC COST AVOIDANCE Your investment also will generate immediate savings by offsetting electricity costs. At today s rates, your OPTION 1: 5.025 kw Solar System reflected here will save about $865 in electricity costs in its first year. The system also will protect you from future electricity rate increases over time.
PROPOSAL CONTENTS OPTION 1: 5.025 kw Photovoltaic (PV) Solar System with LG Electronics Solar Modules....1 OPTION 2: 4.575 kw Photovoltaic (PV) Solar System with Jinko Solar Modules.....2 Environmental Benefits. 3 Snapshot Comparison 4 Roof Layout.............5 AN ADDITIONAL NOTE Dear Jim and Joe, Thank you for contacting us about your Jason Street Residence project! We are honored by the opportunity to provide some thoughts as a starting point for your consideration. Each of our installations is custom-built, and the information provided here is intended as a starting point. We have significant flexibility in terms of design and equipment, and we are able to make adjustments in order to ensure that your installation is exactly as you wish. We are offering two options in terms of solar panels. For OPTION 1, we are recommending premium LG Electronics modules for their superior energy density. This black framed, visually subtle module and highly efficient solar panel makes it possible to maximize a rooftop s available area. Based on its strong market diversification and impressive chain of custody, we are optimistic that LG Electronics will be around for the long term to back up its warranties. OPTION 2 is based on Jinko modules, which are manufactured under ISO (International Standards Organization) standards for quality, sustainability and health. Providing a great value, Jinko also is making a significant investment in the American market, with a new domestic factory opening later this year in Florida. We also are recommending a SolarEdge inverter with DC power optimizers meaning that each solar panel is equipped with its own device, installed underneath to optimize the panel s output. In addition to maximizing efficiency for each individual solar panel, SolarEdge system carries excellent warranties and includes a user-friendly online monitoring system. Our proposal includes all paperwork and logistics for procurement and installation, as well as the entire permitting and inspection process and management of the interconnection process with Xcel Energy. In addition to the financial benefits illustrated throughout your proposal, renewable energy purchases in the state of Colorado are exempt from state sales, RTD and SCFD taxes a benefit worth thousands of dollars. Your installation remains subject to City and County of Denver taxes, which we estimate to be a few hundred dollars for your installation. There is a great deal of information included here, and we look forward to hearing your thoughts and questions after you have an opportunity to review it. It is our goal to create a solar system customized to your family s needs, and we are excited about the prospect of working with you! Thank you, Bart & Whitney, a.k.a. Buglet 303.903.9119 bugletsolar@msn.com
OPTION 1: 5.025 kw PHOTOVOLTAIC (PV) SOLAR SYSTEM SPECIFICATIONS Peak System Capacity 5.025 kw Estimated Energy Production 600 per month Capacity of each Panel 335 watts # of Panels LG Electronics 15 Inverter/Optimizers SolarEdge mounted underneath each module and near service panel FINANCIAL SUMMARY Panels $5,600 Inverter/Optimizers + Monitoring $2,250 Racks + Ballast $2,600 Other Materials and Equipment $650 Xcel Energy Interconnection Fee $100 Structural Engineering Report $350 Building Permit Fees $286 Shipping $300 Labor $3,700 Subtotal $15,836 plus sales tax Estimated Federal Tax Credit -$4,751 TOTAL after Federal Tax Credit $11,085 plus sales tax INSTALLATION ANALYSIS One of your options involves 15 LG Electronics modules ballast-mounted in south-facing orientation and complemented with the SolarEdge inverter/optimizer system. This system will fulfill the goal of generating an annual average 600 per month (7,200 per year). The carbon offset for this solar system will be 13,810 lbs. per year! That s equal to planting 250 trees or saving the emissions of 14,810 miles of driving per year in an average vehicle. BENEFITS SUMMARY Federal Tax Credit $4,751 Estimated Energy Production 600 per month Est. Carbon Emissions Offset 13,810 lbs. CO2 per year / 250 trees / 14,810 miles Est. Increase in Home Value $10,000 Warranties Panels 25 years / Inverter/Optimizers 12/25 years Installation and Workmanship 10 years Please note: This proposal is nonbinding and in no way constitutes a contract. Tax credit figures are unconfirmed estimates and depend on factors beyond the control of Buglet Solar. The solar system proposed here includes a grid-tie inverter, which will function only when the utility grid is functioning normally. 1
OPTION 2: 4.575 kw PHOTOVOLTAIC (PV) SOLAR SYSTEM SPECIFICATIONS Peak System Capacity 4.575 kw Estimated Energy Production 542 per month Capacity of each Panel 305 watts # of Panels Jinko 15 Inverter/Optimizers SolarEdge mounted underneath each module and near service panel FINANCIAL SUMMARY Panels $3,600 Inverter/Optimizers + Monitoring $2,250 Racks + Ballast $2,600 Other Materials and Equipment $650 Xcel Energy Interconnection Fee $100 Structural Engineering Report $350 Building Permit Fees $286 Shipping $300 Labor $3,700 Subtotal Estimated Federal Tax Credit -$4,151 TOTAL after Federal Tax Credit $9,685 plus sales tax INSTALLATION ANALYSIS You also have the option of utilizing 15 Jinko modules ballast-mounted in south-facing orientation and complemented with the SolarEdge inverter/optimizer system. This system will fulfill the goal of generating an annual average 542 per month (6,500 per year). The carbon offset for this solar system will be 12,465 lbs. per year! That s equal to planting 230 trees or saving the emissions of 13,370 miles of driving per year in an average vehicle. $13,836 plus sales tax BENEFITS SUMMARY Federal Tax Credit $4,151 Estimated Energy Production 542 per month Est. Carbon Emissions Offset 12,465 lbs. CO2 per year / 230 trees / 13,370 miles Est. Increase in Home Value $9,000 Warranties Panels 25 years / Inverter/Optimizers 12/25 years Installation and Workmanship 10 years Please note: This proposal is nonbinding and in no way constitutes a contract. Tax credit figures are unconfirmed estimates and depend on factors beyond the control of Buglet Solar. The solar system proposed here includes a grid-tie inverter, which will function only when the utility grid is functioning normally. 2
ENVIRONMENTAL BENEFITS In addition to reducing your household energy costs and increasing your home s value, your proposed solar system will provide significant environmental benefits. This is a great, common-sense way to increase quality of life, save money, reduce impact and improve the human condition. 1 2 solar electricity generated per month 600 542 solar electricity generated per year 7,200 6,500 tree-planting equivalent 250 trees 230 trees driving miles offset per year 14,810 miles 13,370 miles carbon dioxide offset per year greenhouse gas connected to Climate Change 13,810 12,465 sulphur dioxide offset per year pollutant associated with haze and acid rain 19 17 nitrogen oxides offset per year major cause of smog and acid rain 20 18 coal-fired power plant cooling water offset Power plants are significant water consumers because waste heat produced because the plants are only about 36 percent efficient usually is cooled with evaporating water. 14,400 gallons 13,000 gallons OPTION REFERENCES: http://www.xcelenergy.com U.S. Environmental Protection Agency (EPA) 3
SNAPSHOT COMPARISON INSTALL PEAK OPTION SYSTEM CAPACITY ESTIMATED ENERGY PRODUCTION ESTIMATED CARBON OFFSET ESTIMATED FEDERAL TAX CREDIT TOTAL AFTER FINANCIAL INCENTIVES plus sales tax 1 2 5.025 kw 600 kwh/ month 14,810 lbs. per year $4,751 $11,085 4.575 kw 542 kwh/ month 15,839 lbs. per year $4,151 $9,685 LG Electronics Modules Jinko Solar Modules 4 4
TEN FEET 722 Iowa Street Golden, CO 80403 303.903.9119 bugletsolar@msn.com PHOTOVOLTAIC (PV) SOLAR SYSTEM 15 335-WATT LG ELECTRONICS SOLAR PANELS or 15 305-WATT JINKO SOLAR PANELS BALLAST-MOUNTED in SOUTH FACING ORIENTATION 5