Solar Roof Payback Calculator

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.

Solar roof payback calculator.

Our solar payback and roi calculator will help you make conscious decisions about your switch to a more environmentally friendly way to consume power. There are two leading independent solar energy calculators available to us consumers and solar installers who wish to do their own solar calculations. The first solar calculator is pv watts from nrel national renewable energy laboratories. It is calculated by taking the total cost to install the system then subtracting solar incentives and or rebates and monthly electric bill savings until the total cost has been paid off.

Solar savings payback calculator see how long it will take for a solar system to pay for itself. Finally on the inputs tab you will see both a pre tax and after tax calculation of the internal rate of return irr on the investment of putting in solar. The calculator also allows you to compare a high quality photovoltaic pv system with a lower priced solar system and see the difference in payback time. Residential solar system payback period 14 800 1 374 43 10 8 years.

Solar panel payback period is the amount of time it ll take you to completely pay off your solar power system through savings on your electric bill. To figure out payback period without the solar panel cost calculator we first calculate the true cost of installing solar after incentives have been claimed then we compare that against the cost of electricity from the utility company which tells us how long it takes to break even on the system. According to a report from the national renewable energy laboratory nrel the average payback period in the united states is between 6 and 8 years. A payback period of 10 8 years is actually above the average across the united states.

How comparison shopping can improve your solar panel payback period. How is the solar panel payback period calculated. The calculator lets you add a battery to your solar system and will show you the marginal payback of that energy storage. It s a fancy way of saying the calculator shows you the solar and battery savings and payback separately instead of blending the payback together.

Is just above 8 years. Data from the energysage solar marketplace shows that in 2020 solar shoppers who compare their options in the marketplace can achieve payback on their solar investment in about 8 years.