you dont get 14% return on your money as you have lost your initial investment. say you spend 11k on solar panels. After 9 years you will have 13.5k back, If you put your 11k in a 2% savings account you will have 13.146k back, so if you can wait 9 years you have the same saving. But if the govt changes rebates etc you wont. If you move before then you lose out or need maintenance.
I live in the UK so I have no idea what the USA or other countries kW/cash return is.
But Im spending about £11,000 on 4kw Solar Panels currently, income per year from the panels will be around £1500-1600 along with about 20-30% reduced electricity bills. Yeah I have a south facing roof :).
All I can say is a 14-15% return on your money is amazing. You don't get that return from a bank and you don't get that security from the stock market.
14 to 18 years is only marginally cost effective considering the service and maintenance cost of the panels, but there is some value added to the real estate too. The real bonus is when there is not reliable power going to the property in the first place and you are not having to pay for power lines being routed into the property. This allows construction on very low cost land compared to land where utilities are regularly available.
The "break even point" when you are getting the property cheap, or being able to build on a corner of the property you already own but was previously inaccessible to power lines or would cost more to put lines in and in getting the associated permits is where paybacks get cut way short, and can actually be brought back in construction savings alone.
OMG So much has changed. With utility pay back & the goverment pay back at this point is about 4 years where I live. The problem is the upfront cost of 18,000 of a 4 kw system.
@MandLVideo If the payback is only 4 years taking a loan would easily allow you to generate income off your system. Where do you live if you don't mind me asking? In Ontario which has the best incentive in North America, rooftop systems typically pay off in 8-10 years on a 20 year contract. Other places have beat our incentives?
14 to 18 years, no offense but that seems long? Is that for the panels that are commercially available? What about panels that are DIY soldered and assembled at home? What if they are installed by the home-owner instead of a contractor?
It will take 15 years to recover from this investment
There is a website that explain it all
Just search in Google - Top DIY Solar Panels Review
Click the first result and skip the advertisements above
TopMagneticGenerator 1 hour ago
This has been flagged as spam show
This is an awesome video. Do you know?
Solar panels are expensive!
It takes 15 years to pay you back
You can short this time to 1-2 years...
Build your own Solar Panels...
there's an Engineer from Chicago his name is John Sommer
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Go to Google and search for...
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Nature898989 2 weeks ago
you dont get 14% return on your money as you have lost your initial investment. say you spend 11k on solar panels. After 9 years you will have 13.5k back, If you put your 11k in a 2% savings account you will have 13.146k back, so if you can wait 9 years you have the same saving. But if the govt changes rebates etc you wont. If you move before then you lose out or need maintenance.
1safare 6 months ago
I live in the UK so I have no idea what the USA or other countries kW/cash return is.
But Im spending about £11,000 on 4kw Solar Panels currently, income per year from the panels will be around £1500-1600 along with about 20-30% reduced electricity bills. Yeah I have a south facing roof :).
All I can say is a 14-15% return on your money is amazing. You don't get that return from a bank and you don't get that security from the stock market.
If I could dump more money into it I would.
PaulusIsHere 8 months ago
Not a cost effective model at this point yet...sorry, but I need a better break even point than 18 yrs.
FORMETOKNOWONLY 1 year ago 5
@FORMETOKNOWONLY 8 years. Not 18.
BromleyGaffer 9 months ago
@BromleyGaffer Even if you are correct...8 years is TOO long.
FORMETOKNOWONLY 9 months ago
14 to 18 years is only marginally cost effective considering the service and maintenance cost of the panels, but there is some value added to the real estate too. The real bonus is when there is not reliable power going to the property in the first place and you are not having to pay for power lines being routed into the property. This allows construction on very low cost land compared to land where utilities are regularly available.
PDXBikes 1 year ago
@PDXBikes
The "break even point" when you are getting the property cheap, or being able to build on a corner of the property you already own but was previously inaccessible to power lines or would cost more to put lines in and in getting the associated permits is where paybacks get cut way short, and can actually be brought back in construction savings alone.
PDXBikes 1 year ago
OMG So much has changed. With utility pay back & the goverment pay back at this point is about 4 years where I live. The problem is the upfront cost of 18,000 of a 4 kw system.
MandLVideo 1 year ago
@MandLVideo If the payback is only 4 years taking a loan would easily allow you to generate income off your system. Where do you live if you don't mind me asking? In Ontario which has the best incentive in North America, rooftop systems typically pay off in 8-10 years on a 20 year contract. Other places have beat our incentives?
SOLARTRADERdotCA 1 year ago
It is more likely that one will never come to a break even point.
twa600 2 years ago
14 to 18 years, no offense but that seems long? Is that for the panels that are commercially available? What about panels that are DIY soldered and assembled at home? What if they are installed by the home-owner instead of a contractor?
jeevespreston 2 years ago
14 to 18 years! Is that with or with out inflation? Any numbers for wind etc..
enyawix 3 years ago