Double for His Money: Wisconsin Man Raves About His Solar Investment
After 25 years of thinking about solar power, Chuck Niles finally installed solar panels on the roof of his barn in Janesville, Wisconsin.
The 90 panels produce enough energy to power his barn and then some. The unused energy is fed back into the grid. In return, on average Niles receives US$440 a month from Alliant Energy.
With an initial investment of US$130,410 to purchase and install the panels less US$39,600 from a federal grant and US$32,603 from a state grant Niles estimates a 4.5% return on his investment. His pay off is double. Not only is he recieving monthly income but he is also contributing to renewable energy production. Since going online in May Niles has tracked and reduced his carbon footprint by 22,849 pounds.
“I have three grandkids, and the bottom line is, I’d like to leave them something—more than a trillion dollars in debt and dumping oil into the Gulf.”
Read the full article at gazzettextra.com: Solar power proves steady investment for Janesville man
Photo by Lee Wesler
Learn more about solar power on eBoom's Solar Energy Learning page.
Joseph Baker is a freelance writer living in Vancouver BC. His areas of focus include renewable energy, sustainability and climate change.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.
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