#3 -
Renewable Energy > RE General Discussion > Re: How fast is your solar investment returns?
It's hard to quantify payback or ROI for solar panels. If you are just going by pure dollars it can take many many years, even with the incentives you get on your system. But, if you factor in peace of mind then it can pay off quickly.
A few years ago Hurricane Francis made its way through my part of town. Our power was out for 5 days. Not me!! I had solar and a wind generator that kept my lights on the entire time. Strictly speaking ok I made maybe $1.27 worth of electricity with the panels. But, the $400 dollars worth of meat in the freezer that didn't spoil, the food in the refrigerator that wasn't thrown away, and keeping the beer cold.... priceless.
I also need to mention I have battery back up as well to keep the power going during the night time when the sun wasn't shining. My point being though, one has to look at investing in Alt Energy from more than just purely a dollar point of view.
Currently, it's nicer out and I don't have to use the A/C. During about 6 hours of the day, i am entirely off grid, I am supplying all the power requirements for my house. When a storm rolls through and the power goes out (happens a lot), im still running strong.\
If dollars is your main driving force then it is very hard to justify a solar system, but if reliability and emergency power feed into your requirements, then it pays off very quickly.
Aaron