How Long Will It Take For A Solar System To Pay For Itself?

HOW LONG UNTIL I GET MY MONEY BACK?

It's a question we hear from plenty of solar shoppers!

While your neighbor might break even in 7 years, your payback could be faster or slower.

The average American home reaches the break-even point in 8-10 years, but yours could be as quick as 5 years.

Let's discover what affects YOUR solar payback period and how to speed it up!

YOUR BREAK-EVEN TIMELINE

Most solar systems pay for themselves in 5-10 years, depending on where you live.

Here specifically in Souther Nevada, you’re probably looking at 7-9 years.

After that break-even point, you'll enjoy 20+ more years of essentially free electricity!

Think of it this way: a 7-year payback on a system that lasts 25+ years means 18+ years of pure profit.

FACTORS THAT SPEED THINGS UP

Your payback period gets shorter when electricity rates are higher.

Let’s say rates take a 10% jump instead of a 3-5% jump, your payback time could shave off a couple years

Another factor is the efficiency of your system. For example a home with all the panels on a southern roof will produce more electricity than a home with panels on an eastern and northern roof.

More efficient system = faster payback!

CALCULATE YOUR PAYBACK

Divide your final system cost (after all tax credits and incentives) by your annual electric savings.

For example: $14,000 system ÷ $2,000 yearly savings = 7 year payback.

Ask installers for a payback calculation specific to your home, and make sure they include your local utility's annual rate increases in their math.

READY TO GET AN ESTIMATE?

Click the link below and we’ll connect you with a trusted local installer!