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SolarLEDideas Posted - 02/03/2014 : 7:32:39 PM
Has anyone been able to produce a simple program for calculating the investment rate of return for installing domestic solar electricity generation units?
I have a 2 KW unit currently with a healthy government subsidy and I want to install a second unit of 2.5 KW for future cost reduction. This will not be subsidized so I need to know what payback period I am to expect. I have time of use charging so the main benefit is the reduction in grid use during the peak period 2-00 pm to 8-00 pm @$0.49.
26   L A T E S T    R E P L I E S    (Newest First)
MichaelCarter259 Posted - 11/01/2018 : 8:19:41 PM
The three biggest things it depends on are the cost of the system, the cost of electricity, and the availability of rebates or other monetary incentives.The typical solar payback period in the U.S. is between 6 and 8 years. If your cost of installing solar is $20,000 and your system is going to save you $2,500 a year on foregone energy bills, your solar panel payback or “break-even point” will be 8 years ($20,000/$2,500 = 8)
Geo Posted - 07/26/2018 : 07:02:46 AM
Good idea, but not all places are suitable for solar panel installation. All components including panels have limited life, it's not a once in a lifetime investment. Our local solar farm had to replace all their panels after only seven years of operation.
MichaelHarris259 Posted - 07/26/2018 : 02:42:27 AM
installing solar panels is one time investment and you can reduce your electricity bills for life time. One other thing is the world is facing energy crisis, so i will suggest everybody to use solar panels for electricity.
lovepreetsingh Posted - 07/09/2018 : 12:53:45 AM
Solar Panel Benefits

Save money on energy bills

By generating your own free energy you will need to buy less from your energy supplier and save money. The more of your own energy you can produce the less you will have to worry about rising energy prices. Many homes manage to reduce their electricity spend by as much as 40-50%.

Earn Money Through the Feed-in Tariff (FiT)

Provided your solar installation meets the criteria and has been installed by an MCS accredited installer, you will be entitled to receive payments from the government for every kWh of energy you generate and send back to the National Grid. You’ll receive payments on a quarterly basis but the length of time you’ll receive them for depends on the technology in your system. The tariff is recalculated annually in line with the RPI (Retail Price Index).

Save Even More with a Solar Battery

Solar batteries enable you to store the free energy you’ve generated, rather than sending it back to the National Grid. This means you can use the energy even when the sun isn’t shining and buy even less from your supplier.

Lower Carbon Emissions

Using energy from the sun doesn’t produce carbon emissions so causes no harm to the environment. And, as well as being free, solar energy is renewable i.e. it won’t run out.

Cheaper than Ever to Install

Advancements in solar technology, increased demand, and a more crowded marketplace mean that the price of solar panel installation has fallen considerably; it’s almost 50% cheaper to install a solar system today than it was 8 years ago.

Increased Property Value

There is an argument that solar panels are an attractive feature to potential home buyers as they offer reduced energy bills.
sophiewilson0191 Posted - 06/08/2018 : 10:40:48 PM
Solar panel one way to save cash. It is better if you created it too.
So you can fix it yourself.
Maintenance requires cash too.
ayazfudugo1 Posted - 05/31/2018 : 05:00:59 AM
Solar energy is an renewable source of energy. It not only save money on electricity bills but also is an environment friendly.
Geo Posted - 07/17/2017 : 07:03:10 AM
Sounds just about right. Does it include the converters and the mains interface?
stusviews Posted - 07/16/2017 : 1:52:48 PM
Originally posted by geekfarmer

I am about to put in 10kw of solar and what I found is the panels are only about 1/3 of the cost. The rest is labor and the materials to install.

Isn't that true for anything that requires installation?
geekfarmer Posted - 07/16/2017 : 04:35:53 AM
I am about to put in 10kw of solar and what I found is the panels are only about 1/3 of the cost. The rest is labor and the materials to install.
Geo Posted - 06/02/2017 : 04:49:28 AM
There are too many variables, beginning with the weather to the hardware quality and maintenance cost to come up with a reliable ROI number. Our local utilities company had to replace all the panels in their solar field three years after the installation due to their poor quality - at least, that's the politicians' story. Obviously, the ROI turned up to be a huge loss. A friend of mine spent $200k on his installation with the government kicking in 50 cents on every dollar he spent. He has a great location but had to cut down quite a few trees otherwise shading the panels. He is totally energy self-sufficient and calculates his ROI for 20 years. He also rotates the panels, which increases the cost of the hardware, but, especially in the northern locations, the loss of PV efficiency is quite significant if the panels are stationary.
All in all, you can arrive at a reasonable estimate if you do your homework, but to my knowledge, there is no silver bullet to help you with it.
luther147 Posted - 05/29/2017 : 05:21:52 AM
Originally posted by SolarLEDideas

Has anyone been able to produce a simple program for calculating the investment rate of return for installing domestic Best Solar Panel Cleaning ( electricity generation units?
I have a 2 KW unit currently with a healthy government subsidy and I want to install a second unit of 2.5 KW for future cost reduction. This will not be subsidized so I need to know what payback period I am to expect. I have time of use charging so the main benefit is the reduction in grid use during the peak period 2-00 pm to 8-00 pm @$0.49.

I like your post and after reading this I am also interested in it. Would you please help me on how can I achieve this???

sym420 Posted - 02/17/2017 : 05:43:01 AM
I saved about $50 a month when installing some new solar panels. The up front cost can be pricey, however it pays off in the long run.
EVIL Teken Posted - 08/05/2016 : 4:28:36 PM
Personally solar for me is a long term investment and ROI is near the bottom of the list for me. Having the ability to see immediate electrical reduction in my monthly bill is what drives me. As others stated before (IF) people really believe solar, wind, micro hydro is green.

They are simply dreaming, as Oberkc clearly indicated the massive amounts of rare & raw materials for all of these technologies are taken from the Earth.

Ideally a PV system should be designed and deployed where it can bring the home owner to NET Zero. Keeping in mind this is highly dependent upon the monthly loads and energy consumption. For guys like me who consume 6 - 20 KWH per day (depending upon season) its much cheaper for me to install a smaller PV system. When compared to those who consume upwards of 40 - 100 KWH per day.

In my travels I've seen lots of people with PV systems completely lose sight as to why they invested all of that money in the first place. Because those same people who have them don't change one thing in their lives and actually consume more energy after the PV install?!?!

Meaning if John Doe consumed 20 KWH per day prior - knowing he has enough PV generation to cover that 20 KWH. John Doe now consumes 30 - 40 KWH per day! In their mind the NET consumption is only 10 - 15 KWH at the end of the day which is true - but in the big picture they consumed way more.

That in my mind isn't being green that's just moving the goal post.
oberkc Posted - 08/05/2016 : 07:21:59 AM
I find most of these arguments not fully thought out. Energy is used in the manufacture of solar panels. Precious metals (rare) are used in solar panels. Mining of these materials causes some harm to the environment. Chemicals used in the production cause some harm to the environment. In some cases, clearing forests to install solar panels cause some harm to the environment. Batteries to store energy use energy and chemicals and materials in production. Disposal of panels and batteries at EOL can cause environmental damage.

While the net benefit to the environment in the use of solar panels MAY be positive, until one considers the entire production, installation, and disposal costs it is premature to declare solar panels the savior of humanity and the world. This whole argument is generally made by those who claim electric cars are "zero-emission". Both are purposely misleading, in my estimation, and may ultimately make worse the things many well-intentioned folks are trying to improve.

Regarding monetary savings, the numbers thrown about do not appear to account for initial installation costs. Until I see the calculations and assumptions, I would treat them as dubious at best. But, yes, last I checked there is some cost savings over 20 years but probably not the kinds of dollars being thrown around in posts like these. And all this would assume that there is no maintenance costs associated with owning solar panels and that they actually last 20 years and that performance does not appreciably degrade over that time period.
jakinidtek Posted - 08/04/2016 : 03:34:32 AM
Here are some of the benefits of solar panel :

Solar power helps to slow/stop global warming. Global warming threatens the survival of human society, as well as the survival of countless species. Luckily, decades (or even centuries) of research have led to efficient solar panel systems that create electricity without producing global warming pollution. Solar power is now very clearly one of the most important solutions to the global warming crisis.

Solar power saves society billions or trillions of dollars. Even long before societys very existence is threatened by global warming, within the coming decades, global warming is projected to cost society trillions of dollars if left unabated. So, even ignoring the very long-term threat of societal suicide, fighting global warming with solar power will likely save society billions or even trillions of dollars.

Solar power saves you money. Putting solar PV panels on your roof is likely to save you tens of thousands of dollars. The average 20-year savings for Americans who went solar in 2011 were projected to be a little over $20,000. In the populous states of New York, California, and Florida, the projected savings were over $30,000. In the sunny but expensive paradise known as Hawaii, the projected savings were nearly $65,000!

Beyond solar PV panels, its worth noting that solar energy can actually save you money in about a dozen other ways as well with proper planning and household design choices.

Solar power provides energy reliability. The rising and setting of the sun is extremely consistent. All across the world, we know exactly when it will rise and set every day of the year. While clouds may be a bit less predictable, we do also have fairly good seasonal and daily projections for the amount of sunlight that will be received in different locations. All in all, this makes solar power an extremely reliable source of energy.

Solar power provides energy security. On top of the above reliability benefit, no one can go and buy the sun or turn sunlight into a monopoly. Combined with the simplicity of solar panels, this also provides the notable solar power advantage of energy security, something the US military has pointed out for years, and a major reason why it is also putting a lot of its money into the development and installation of solar power systems.

Solar power provides energy independence. Similar to the energy security boost, solar power provides the great benefit of energy independence. Again, the fuel for solar panels cannot be bought or monopolized. It is free for all to use. Once you have solar panels on your roof, you have an essentially independent source of electricity that is all yours. This is important for individuals, but also for cities, counties, states, countries, and even companies. I was recently in Ukraine touring various cleantech initiatives and projects. While there, I discovered that Ukraine in recent years has saved approximately $3 billion in reduced oil and gas imports from Russia thanks to the solar power plants developed by a single developer. Impressive.
DTRiemer Posted - 06/16/2016 : 8:54:10 PM
There's more to solar panels than just saving on your electricity bills. You can also help environmentally, which is very significant these days with how the weather has been acting up globally. Solar power is the way to go if we want and our future generations to survive.
Kyile Rey Posted - 06/10/2016 : 04:19:00 AM
Probably the biggest advantage of solar energy is immediate electricity bill savings. No matter how small your installation, you begin receiving smaller monthly bills from your local utility company from Day 1.

But how large are these electricity bill savings?

Answering this depends on 2 important factors:

Solar energy is a modular technology, meaning you can install as many or as few panels as you like whenever you like. Each new kilowatt of installed solar capacity brings you bigger electricity bill savings. With a large enough installation, its possible to reduce your energy bill completely. Thanks to solar energy, countless Americans already pay $0 a month to their local utility.

However large your installation, you can expect your electricity bill savings to grow with time. As utility rates increase, clean energy from the sun remains consistently free. Solar is an investment that pays increasingly large dividends with each passing year.
KennethMan Posted - 04/12/2016 : 01:24:48 AM
If you live in a multi-storeyed dwelling, it is impossible to install your own solar panel and be energy independent. It is not accurate to say that solar is pollution free. Manufacturing and shipping the panels consumes energy and create pollution too although a lot less than fossil fuels. You forgot about the baseload solar thermal which uses molten salts to store energy and they can generate electricity 24 hours a day. These are now in operation for a $300M test case project. It is projected to be more reliable than nuclear.
Fluffy Skittles Posted - 12/21/2015 : 07:28:40 AM
It depends really on how you see it. It sure cost a lot making it a hefty investment but eventually you will realize how much you have saved.
katherinewatsonus Posted - 11/05/2015 : 12:12:01 AM
Not only save the electricity, but also save the pocket money, only one time installation... Great I have with solar technology
Darrian.Stokes01 Posted - 10/22/2015 : 11:42:37 AM
Everyone I have talk to that has solar panels installed have saved money. But they have only done that over time. It's not a change that you can see over night it is like more of an investment.
CarlosLambert Posted - 10/14/2014 : 12:50:51 AM
Originally posted by SolarLEDideas

Has anyone been able to produce a simple program for calculating the investment rate of return for installing domestic solar kits?
I have a 2 KW unit currently with a healthy government subsidy and I want to install a second unit of 2.5 KW for future cost reduction. This will not be subsidized so I need to know what payback period I am to expect. I have time of use charging so the main benefit is the reduction in grid use during the peak period
2-00 pm to 8-00 pm @$0.49.

Hello friend I am bit weak in making calculations but I do know solar power as brought my energy bills down to an extent..
justin Posted - 03/03/2014 : 9:59:53 PM
Make small lifestyle changes which can drastically reduce your electricity consumption. Use of Solar power can helps to slow/stop global warming.
ceb Posted - 02/26/2014 : 06:15:10 AM
I've recently done lots of research and - quite frankly - much of the economic payback is determined by where you live. In Maryland, for example, given the Federal and the state subsidies and the cost of electricity, the break even point is about 8 years.

In Virginia, OTOH, without State incentives and cheaper electricity prices, the break even point is about 25 years and the expected life of the panels is about 25 years. Since my new house is in Virginia, it won't have solar - but it will have all LED lighting and GeoThermal.

A quick way to check is if there are the places like SolarCity operating in your state. They pay all the costs connected with the install and then sell you the energy produced by "your" panels at a fixed lower rate. If they don't operate in your state then it probably isn't economical. They don't operate in Virginia but operate in Maryland. When I asked them about it they said "There are no incentives and electricity is too cheap.

In Hawaii this would be a no brainer.
justin Posted - 02/05/2014 : 06:12:53 AM
There are many benefits of installing solar panels for your homes energy consumption and significant savings. You can reduce your electricity bills.
stusviews Posted - 02/03/2014 : 8:09:25 PM
The rate of return depends highly on use which can vary considerably among users. But, you have solar panels installed, so using your own savings as a cost basis is probably most accurate for you.

The ratio of electric generated installed now to total installed after the addition is 1 to 2.25 which suggests that the new cost should be about 125% of the original unsubsidized cost, factoring and any current dollar adjustment since the original installation.

Will you generate more than you use during the peak periods. What's your utility's position on returning power to the grid?

IMO, if you have an opportunity to save earth's resources and our air, then do it. The payback is kids and their kids and their...

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