There s no denying that solar panels are a long term investment but given the potential for both saving money on energy.
How long do solar panels take to pay themselves off.
However cities in the north are not as left behind as one would expect.
Average solar power payback period varies significantly based on where you live.
How long do solar panels take to pay for themselves our customers see payback periods that are between 10 15 years on average.
Unsurprisingly cities in the south came out tops with plymouth exeter and truro named as the three cities with the highest return on investment for domestic solar panel installations.
Here you can see the numbers.
A definitive answer to when a solar panel system will pay for itself is impossible to give due to all the factors involved.
Whether you are interested in solar panels for a residential property or as a commercial installation it is inevitable to think about the profitability of the system and ask whether your panels will pay for themselves.
Socal bob has a daily energy use of 30kwh.
While the national average is 9 5 years it takes only 8 4 years in plymouth exeter and truro the top three for a domestic solar panel installation to pay for itself.
The price of electricity is 0 13 kwh.
Those solar shoppers will continue to enjoy free electricity for the life of their solar panel systems which can last between 25 and 35 years.
On average a typical solar system should wind up costing about 20 000 over its 25 year lifespan which includes the cost of inverters and a battery.
Your payback period will depend on your electricity usage electricity rates and how compatible your roof is for solar.
He wants to meet 100 of his energy costs with solar panels.
However we can estimate based on averages roughly 10 years and up for a system to pay for itself and even possibly result in a return.
Moreover the length it takes for a purchased solar system to pay for themselves is influenced by the roof s exposure to sunlight roof direction the price for electricity and local subsidies.
So installing solar panels in the north remains a good deal.
In this example let s say the price for solar panels is higher in his area 4 w or.
As of june 2020 the average residential solar panel payback period in the us is 7 6 years based on the last 50 000 homes that have used our state of the art solar panel estimator to generate a solar cost and savings estimate for their home.
