Leelanau Solar - Affordable Solar for Home, Farm and Business

Harvest the Sun
Plant Solar PV in 2017

Cherryland's new Sell-All program is an excellent opportunity for Ag producers to receive long-term, steady, high income per acre from Solar PV














  • $25-27,000 per acre annual yield
  • Monthly checks from Cherryland
  • 6-7 year capital recovery
  • 13-17% Return On Investment over 15 Years
  • 25 year system lifetime
  • Virtually no maintenance
  • 60% of system costs covered by tax credit, grant, rebate, and depreciation


Sample 36 kW Solar Installation  
Requires 1/5 acre of land
$80,000 installed cost. $2.22 per watt.

Incentives
  • 25% USDA REAP Grant ($20,000)
  • 30% Federal Investment Tax Credit ($17,000)
  • $3,000 Cherryland rebate
  • $12,000 Accelerated depreciation (MACRS w/ 25% marginal tax rate)
Net installed cost = $28,000

Income Stream
Cherryland will pay 10c/kWh for 20 years. A 36 kW system will produce 47,000 kW-hours per year, $4,700 per year.  Simple payback = 6.7 years. 13% IIR @ 15 years

Site Requirements
  • Must be a Cherryland customer
  • Reasonably level land with no tall trees 500 ft to east, south and west
  • 480V 3-phase service within 1000 ft of site or . . . 240V single phase within 400 ft.
  • Site footprint: 30 x 300, 50 x 200 or 100 x 100 ft
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Sample 106 kW Solar Installation  
Requires 1/2 acre of land
$200,000 installed cost. $1.88 per watt.

Incentives
  • 25% USDA REAP Grant ($50,000)
  • 30% Federal Investment Tax Credit ($42,300)
  • $9,000 Cherryland rebate
  • $30,000 Accelerated Depreciation (MACRS w/ 25% marginal tax rate)
Net installed cost = $66,700

Income Stream
Cherryland will pay 10c/kWh for 20 years. A 106 kW system will produce 138,000 kW-hours per year, $13,800 per year.  Simple payback = 5.7 years. 16.4% IIR @ 15 years

Site Requirements
  • Must be a Cherryland customer
  • Reasonably level land with no tall trees 500 ft to east, south and west
  • 480V 3-phase service within 600 ft of site or . . . 240V single phase within 300 ft.
  • Site footprint: 35 x 600, 70 x 300, 100 x 200 or 150 x 150 ft

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Payback and net cost depends on your marginal tax rate. This is driven by the 5 year MACRS depreciation schedule. REAP grant, CEC rebate and ITC tax credit are fixed.


36 kW
36 kW
36 kW
106 kW
106 kW
106 kW
Marginal Rate
15%
25%
33%
15%
25%
33%
REAP Grant
$20,000
$20,000
$20,000
$50,000
$50,000
$50,000
CEC Rebate
$3,000
$3,000
$3,000
$9,000
$9,000
$9,000
ITC Tax Credit
$17,000
$17,000
$17,000
$42,300
$42,300
$42,300
MACRS Depreciation
$7,300
$12,000
$16,000
$18,000
$30,000
$39,600
Payback Years
7.9
6.7
6.0
6.5
5.7
5.2
15 Year ROI
11.3%
12.9%
14.3%
14.7%
16.4%
17.8%
Net Cost
$32,700
$28,000
$24,000
$80,700
$68,700
$59,100  




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