How Long Before Solar Panels Pay For Themselves

The time it takes for solar panels to pay for themselves can range between 5 to 15 years.

How long before solar panels pay for themselves.

The first thing you should do when considering if solar panels are a good investment for you is look up. An average timeframe is fifteen years from the time owners begin using the solar panel system including installation cost recovery. The national average is roughly 7 years. It can take as little as four years in states like hawaii or as long as 18 years in states like arkansas.

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. The price of electricity is 0 13 kwh. 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. Average solar power payback period varies significantly based on where you live.

Your payback period will depend on your electricity usage electricity rates and how compatible your roof is for solar. Moreover the length it takes for a purchased solar system to pay for themselves is influenced by the roof s exposure to sunlight roof direction the price for electricity and local subsidies. In addition to the federal tax credit of 30 his utility offers an incentive of 0 3 w for solar projects. Socal bob has a daily energy use of 30kwh.

In this example let s say the price for solar panels is higher in his area 4 w or. So how long do solar panels take to pay for themselves. For a typical home the cost of your system can range from 20 000 to 30 000 to purchase and install. On average a typical solar system should wind up costing about 20 000 over its 25 year lifespan which includes the cost of inverters and a battery.

He wants to meet 100 of his energy costs with solar panels. How long do solar panels take to pay for themselves our customers see payback periods that are between 10 15 years on average. Timeframes for fully recovering the costs of solar panels vary but last at least several years.