Calculate Solar Return

Solar power systems, whether photovoltaic or solar thermal energy is an investment in your home. By spending more money in advance, reduce amount you pay your electricity bill on the street. The calculation return on the solar system is simple.

determining the net cost of your solar installation system. These are the costs of panels, battery systems, solar inverters and the cost of each work installing it. deduct any solar tax credits was to apply from 2009 Federal solar tax credit of 30 percent of the purchase price of solar modules.

Calculate Solar Return

For purposes of examples, we’ll assume you have net cost of your solar power system of $7,000 after labor costs and tax credits. Determine number of kilowatt-hours your installation will collect each day. You’ll want to talk to your solar panel installers after they’ve looked over your home and site requirements. In general, farther south you are, more kilowatt-hours your solar panel array will generate. We’ll presume average yield of 5 kilowatt-hours for purpose of examples.

Examine your electric bill, most Americans pay anywhere from 12 cents to 18 cents per kilowatt-hour. At 5 kilowatt-hours of electricity per day median value for continental US according to OnGrid , and average electricity cost of 15 cents per kilowatt hour, your solar panels are saving you 75 cents per day on your electric bill. Divide net cost of solar power installation by net savings per day.

In our example, it’s $7,000 divided by 75 cents $0.75 or 9,333 days for saved electricity to meter out to cost of panels. 11,666 days divided by 365.25 days per year gives us more than 25 years for that solar power system to pay for itself, assuming your electricity rates don’t rise, and assuming that your solar panels or solar power system requires zero maintenance or replacement of components.

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How to Calculate Solar Return

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