If you’re thinking about solar panels for your home, you may be wondering how long it will take for your system to pay for itself. This is known as the solar payback period, and it’s an essential factor to keep in mind when deciding whether or not to go solar.
On average, we have found that solar payback periods take around 10-16 years. However, several variables can affect your specific payback period, including:
- System Type – The type of solar system you choose can impact the payback period. A ground-mount system will cost more upfront but can provide more flexibility in direction and sunlight exposure. Roof-mount systems, on the other hand, are limited by the direction of your roof and may receive less sunlight.
- Array Orientation and Angle – The direction and angle of your solar array can greatly impact the amount of sunlight it receives. For example, an array that faces south may receive more sunlight than one facing north.
- Shading – The more shading in the area where you’re installing solar, the less power they will produce. If trees or other things are blocking the sun from hitting the panels, it will decrease the amount of power created.
- Energy Usage – The amount of energy you use over time can also affect your payback period. Say you were using more energy than you were producing, this means that it will take longer than expected for the solar system to pay for itself.
- System Size – More often than not, a larger array will produce more energy, and that allows for a faster payback period. During the design process, make sure to review your energy usage to ensure that you choose the correct array size.
In conclusion, the payback period can be important to consider when deciding whether or not solar is right for you. While the payback period may seem long, the long-term benefits of solar make the investment worthwhile.