Solar Panel Payback Period Australia

This payback calculator will help you understand the factors involved in purchasing a solar panels pv power system.

Solar panel payback period australia.

After the initial solar feed in tariff period the calculator will use the subsequent feed in tariff you specified. 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. Solar homes as are charged for solar homes when the. There are a few variables that determine this like system size monthly usage and amount of sunlight you get.

Solar pv panel system payback calculator. Dean lombard says estimating the payback period of a solar system with time variant fits requires a more complex calculation based on the electricity deal and the tariffs specific information about a household s energy usage patterns and the design and. Data from the energysage solar marketplace shows that in 2020 solar shoppers who compare their options in the marketplace can achieve payback on their solar investment in about 8 years. In this case we ve worked out the solar payback time of a property in london installing a 3kw solar system as well as the following over a 20 year period.

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. See how long it will take for a solar system to pay for itself. Comparing quotes from multiple solar installers can actually help you go solar with a shorter payback period than the national average. Darwin has the fastest payback time thanks to australia s highest solar feed in tariff.

Understanding how long it will take for that solar panel to pay itself back before you make the installation. The calculator also allows you to compare a high quality photovoltaic pv system with a lower priced solar system and see the difference in payback time. Solar panel payback times. The average payback period of solar in australia is 4 years.

This is indicated by the light blue section and assumes the victorian solar homes package lowers the cost of solar power by 2 225. All fits in australia are net feed in tariffs. A shorter payback period of 3 to 5 years is more common in parts of the country where utility electricity is higher like the north east and south west. If this isn t included the simple payback time in melbourne is 5 years.

Is just above 8 years. Daytime electricity rate of 0 1437 per kwh. How is the solar panel payback period calculated. If your cost of installing solar is 20 000 and your system is going to save you 2 500 a year on foregone energy bills your solar panel payback or break even point will be 8 years 20 000 2 500 8.

How comparison shopping can improve your solar panel payback period. The true range is 3 5 years with 4 years being the average. Solar savings payback calculator. The typical solar payback period in the u s.