How Long Before Solar Panels Pay For Themselves

Socal bob has a daily energy use of 30kwh.

How long before solar panels pay for themselves.

By comparing multiple quotes and evaluating their respective payback periods you can more easily understand the value of your solar investment and make the right choice for your home. For a typical home the cost of your system can range from 20 000 to 30 000 to purchase and install. How long do solar panels take to pay for themselves our customers see payback periods that are between 10 15 years on average. It depends on where you live how much energy you use and how much your utility bills were prior to installing you solar panel systems.

Some states like hawaii and massachusetts offer solar payback periods as short as five years while payback time in states like louisiana and north dakota can stretch to 16 years or more. The price of electricity is 0 13 kwh. So how long do solar panels take to pay for themselves. This means that owners can expected to spend roughly half the lifespan of the solar panel recouping the associated costs and the latter half of the panel s life saving money on it.

In this example let s say the price for solar panels is higher in his area 4 w or. In addition to cutting down on. He wants to meet 100 of his energy costs with solar panels. So installing solar panels in the north remains a good deal.

The solar panel lifespan is about 25 to 30 years long. 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. Recent analysis shows solar panels can pay for themselves within six to 10 years of installation. 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.

In addition to the federal tax credit of 30 his utility offers an incentive of 0 3 w for solar projects. Here you can see the numbers. Your payback period will depend on your electricity usage electricity rates and how compatible your roof is for solar. Most homeowners in the united states can expect their solar panels to pay for themselves in between 9 and 12 years depending on the state they live in.