Just got a message from our banker: Our application for a loan to fund a solar electric installation has been approved, pending appraisal. So here we go.
I decided some time ago that I’d blog the whole process if we got approval. We’ve talked about doing it for years, but only got serious when a former neighbor, who now works for a solar outfit called PositiveEnergy, came by to invite us to a presentation.
We went that next Saturday to a terribly nice place with airplane views in the hills above town. They had about 7,000 watts installed on the roof, and only had an electric bill in December. Plus they got 40% of their capital back as a tax rebate, and the electric company pays them 9 cents for every KWh they generate in addition to buying all their surplus. We were sold.
We had Taylor from PositiveEnergy out to the house the next Monday. He looked at our needs and our site and recommended a pair of ground-based tracking arrays that should generate an average of 7300 watts, or 55 KWh per day.
You may wonder about the cost. Don’t ask.
Hence our trip to the bank. The tax rebate seems to have swung the deal for us. We do have to get the house appraised, but given prices in this area it would be a serious shock (no pun intended) if we don’t exceed the needed figure.
Fingers crossed. Stay tuned.