Solar Roof Payback Calculator

The latter is sometimes referred to as a solar payback calculator.

Solar roof payback calculator.

Solar savings payback calculator see how long it will take for a solar system to pay for itself. 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. There are two leading independent solar energy calculators available to us consumers and solar installers who wish to do their own solar calculations. Comparing quotes from multiple solar installers can actually help you go solar with a shorter payback period than the national average.

The calculator lets you add a battery to your solar system and will show you the marginal payback of that energy storage. How is the solar panel payback period calculated. 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. 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.

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. Residential solar system payback period 14 800 1 374 43 10 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. How comparison shopping can improve your solar panel payback period.

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. The first solar calculator is pv watts from nrel national renewable energy laboratories. 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. 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.

The typical solar payback period in the u s. A payback period of 10 8 years is actually above the average across the united states.