Conclusions from the solar PV payback calculations
I hope this illustrates how using the energy at home makes more sense than selling it back to the grid – and remember too – if you don’t have an export meter you will be paid as if you are exporting 50% of the electricity, even if in fact you end up exporting zero!
The calculations also show the sort of payback you should be expecting once you install a solar PV system, potentially paying back in as little as 7 years.
This calculation above also doesn’t take into account electricity price increases going forward, and I am fairly confident these will be going up rather than down, so obviously the potentially savings are only going to increase.
Also as soon as you have paid back the initial installation costs of the solar, you then are getting free electricity and being paid for using it for a further 12 years or more and these payments are guaranteed.
It is also worth mentioning that once you have installed all the infrastructure required to run your solar PV system (i.e. inverters, meters) the actual panels themselves are relatively inexpensive, so it is worth trying to get as big a system as your roof will allow (based on size and its strength), since the more kWh you can squeeze out of your system the more money you will make the larger your return will be.
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