How Much Does a Home Owner Save on a New Home With Solar Panels?

/in

Is there a good return on investment on solar photovoltaic panels (PV)? They do lessen the environmental impact and reduce electric bills but they are a big investment. Home Innovations Research Labs did a study to determine the PV’s cost-effectiveness.

The study was done in five different markets which included Phoneix, AZ; Tampa, FL; Boston, MA; Kansas City, MO and Seattle, WA using the System Advisory Model (SAM). The System Advisory Model is a software that was developed by the DOE’s National Renewable Energy Laboratory (NREL). It takes the energy performance of the solar PV array at a specific location and for a specific house configuration and turns it into a model. It then calculates the expected electricity production and cost-effectiveness metrics for the system using local utility tariffs.

They are able to study the model and determine a new house construction scenario based on the assumption that the solar PV system was installed before the house sale as part of the new home package. The evaluation is based on local electricity pricing, utility tariff for purchasing excess electricity generated at the house, solar resource at the site, and panel orientation and installed cost of the PV panels.

The study concludes that it is more cost-effective in certain areas in the country while it is not in others. For Boston, it is effective because of Boston’s high local electricity pricing and favorable purchasing tariffs. Below is a chart detailing the outcome of the study done.

City Solar resource, kWh/m2/day Metering agreement Electricity price, cent/kWh* Price for site generated electricity, cent/kWh Simple payback
Phoenix 5.79 Net billing 3.4-26.8 2.8-3.0 16-42 years
Tampa, Fla. 5.22 Net metering 10.3-12.7 ** 18-33 years
Boston 4.06 Net metering w/ $ credits 19.6-22.3 18.0-20.7 12-21 years
Kansas City, Mo. 4.38 Net metering w/ $ credits 7.5-15.7 2.4 20-36 years
Seattle 3.47 Net metering 8.7-10.7 ** 25-59 years

* Prices vary by time of day, month, and/or max usage.

** Net metering agreements credit customers for site-generated electricity in energy units (kWh) and are not converted to $.

Click Here For the Source of the Information.

Covington Lions Club Mardi Gras Parade, Cancelled

/in

Antique cars will be part of the parade in Covington.

Covington Lions Club Parade


N Columbia St & Jefferson Street
Covington, LA 70433

CANCELLED

For More Information.

Covington Mardi Gras Parade, Cancelled

/in

This parade always follows the Covington Lions Club parade in Covington.

Covington Parade


N Columbia St & Jefferson Street
Covington, LA 70433

CANCELLED

For More Information.

Folsom Mardi Gras Parade, Cancelled

/in

The Folsom parade will show off a horse-drawn carriage in Folsom.

Folsom Parade


Olive St & Garfield St
Folsom, LA 70433

CANCELLED

For More Information.

Chahta Mardi Gras Parade, Cancelled

/in

This event will not be happening during Mardi Gras this year in Lacombe.

Chahta Parade


Hwy 190 & Mill Rd
Lacombe, LA 70445

CANCELLED

For More Information.

2021 Will See A Conforming Loan Limit Rise

/in

The new year will bring a change in the maximum baseline conforming loan limits for mortgages obtained by Fannie Mae and Freddie Mac. According to the announcement made by the Federal Housing Finance Agency (FHFA) the baseline will increase from $510,400 to $548,250.

The FHFA adjusted the loan limit by 7.42% due to the increase in the average U.S. home value. The value has increased between the last quarter in 2019 and 2020. In higher-cost areas, the new ceiling loan limit will be $822,375 up from the current limit of $765,600. The list of 2021 maximum conforming loan limits for every U.S. county and county-equivalent areas can be found here.

The baseline limit is required by Fannie Mae and Freddie Mac to be adjusted every year to keep up with the U.S. average home price and is defined by the Housing and Economic Recovery Act (HERA). Since the average price varies by the area they also defined “high-cost area” limits. HERA defines these areas in which 115 percent of the local median home value exceeds the baseline CLL, the maximum loan limit will be higher than the baseline loan limit.

This is good news for the U.S. housing market. In fact, the maximum conforming loan limit will be higher in 2021 in all but 18 counties or county-equivalents in the U.S.

Click Here For the Source of the Information.