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 payback calculator uk.
See how long it will take for a solar system to pay for itself.
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.
If you haven t yet received solar panel quotes you can start the process by using our solar panel calculator and learning about offers from solar providers in your area.
Comparing quotes from multiple solar installers can actually help you go solar with a shorter payback period than the national average.
This is to help you decide whether a pv system is for you.
Installing solar panels can be a great decision for your home for the environment and for your savings.
Remember the method above just results in a simple payback estimate without accounting for increases in electricity costs over time solar panel degradation or any other.
Cables inverter of 15.
To help give you an idea of how long solar panel payback time could be we ve used our solar payback calculator a tool that works out your specific solar payback time using certain criteria.
In fact with an average return of 4 8 over 25 years solar panels offer a return comparable to most isa and investment accounts.
Calculations include solar radiation and system losses in a central uk location due to temperature 6 6 and angular reflectance 3 1 as well as other losses e g.
Solar panel payback time in the uk.
Solar panel payback time in the south of the uk.
Use the solar energy calculator for an idea as to the benefits you may see from installing a solar pv system.
How comparison shopping can improve your solar panel payback period.
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.
The typical solar payback period in the u s.
You can change the inverter cable loss and other assumptions in the calculator box above if you wish.
How is the solar panel payback period calculated.
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.
Hopefully you can use our free calculator to determine if solar is a good fit for you.
