Estimate your system size, total costs, and years to break even.
Recommended System Size:0 kW
Estimated Total Cost:$0
Federal Tax Credit (30%):$0
Net Cost (After Credit):$0
Annual Savings:$0
Estimated Payback Period:0 Years
How Solar ROI is Calculated
Transitioning to solar energy is a significant financial decision. To accurately estimate your return on investment (ROI), our calculator evaluates several critical metrics:
Energy Consumption: We determine your monthly kilowatt-hour (kWh) usage by dividing your bill by your local utility rate.
Solar Potential: Based on the peak sunlight hours in your region, we calculate the capacity required to offset 100% of your usage.
Installation Incentives: The calculator automatically applies the Federal Investment Tax Credit (ITC), which currently stands at 30% of total installation costs.
Factors Influencing Your Solar Savings
While this calculator provides a robust estimate, real-world results depend on specific variables:
Roof Orientation: South-facing roofs in the northern hemisphere typically generate the most energy.
Shading: Nearby trees or buildings can reduce efficiency by up to 40%.
Local Incentives: Many states offer additional rebates or Performance-Based Incentives (PBIs) like SRECs that can shorten your payback period significantly.
Net Metering: This policy allows you to send excess energy back to the grid for credits, effectively using the grid as a battery.
Is Solar Worth It in 2024?
With the cost of solar panels dropping by over 60% in the last decade and utility rates rising annually, the "break-even" point for most homeowners now falls between 6 and 10 years. Considering most systems are warrantied for 25 years, you can expect 15+ years of virtually free electricity.
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