How Long Would It Take To Pay Off Solar Panels

Furthermore since once the initial investment is covered electricity generated by the panels is free solar panels eventually pay for themselves in a couple of years.

How long would it take to pay off solar panels.

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 payback period will tell you how long your solar panels will take to pay for themselves but it doesn t consider the full lifetime value of the system. We ve garnered information from across the internet and compressed it into a bite sized formula. This tricky question of how long it takes for solar panels to pay off has kept homeowners up at night ever since solar panels met roofs.

Determining whether to install a pv solar system may seem like a daunting task but it is important to remember that such a system is a long term investment. In many locations solar power is a. Solar panels come with 25 year warranties but many systems will still produce well beyond the warranty period. After your investment is paid off your solar panels will continue to generate clean electricity for free and will continue to do so for as long as your equipment lasts.

Until now that is. Given that many solar panels and inverters come with 25 year product warranties you can expect more than two decades of trouble free operation from your solar array. Here s how the figures break down for cities in the. In plymouth it takes only 8 4 years for a domestic solar panel installation to pay for itself compared with the national average of 9 5 years.

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. The solar panel payback period is a calculation that estimates how long it will take for you to break even on your solar energy investment.