For example if you can divide 10 000 by 1 000 you already know how to use the simple payback method to calculate the payback for solar panels.
Solar payback calculator canada.
The simple payback method calculates the number of years it will take for your solar system to pay for itself.
Finally on the inputs tab you will see both a pre tax and after tax calculation of the internal rate of return irr on the investment of putting in solar.
Solar payback in alberta.
The simplest way to calculate solar payback is to use the simple payback method.
Solar power solar pv has solid economics in alberta and has enjoyed exponential growth largely without any government incentive.
To figure out payback period without the solar panel cost calculator we first calculate the true cost of installing solar after incentives have been claimed then we compare that against the cost of electricity from the utility company which tells us how long it takes to break even on the system.
This calculator helps project planners evaluate the cost implications of proposed grid connected solar pv projects by comparing them to purchasing electricity from alberta s grid.
How is the solar panel payback period calculated.
Our solar payback and roi calculator will help you make conscious decisions about your switch to a more environmentally friendly way to consume power.
In canada this timeline varies from 8 to 16 years and again depends on your current province.
Is just above 8 years.
The typical solar payback period in the u s.
Home solar tools photovoltaic payback photovoltaic payback economic analysis of a photovoltaic system with the determination of payback and chart.
Solar savings payback calculator.
Conclusion on solar payback calculator.
Cost of solar power in canada 2020.
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.
Alberta s combination of lots of sun low temperatures and expensive billing rates make it one of the best places in canada to install solar pv.
Before you begin you will need to collect.
See how long it will take for a solar system to pay for itself.
You can however calculate the timeline yourself and see how long it takes before you start turning a profit.
Enter data of the photovoltaic energy then the data estimated cost of the plant then data eletrica bill.
This tool estimates yearly cash flow with and without a solar pv system and compares the total net present value of different options over a chosen analysis period.
This period refers to the amount of time it will take for your solar panels to produce the initial investment cost.
However the cost of solar power changes depending on the size of the system required your eligibility for solar incentives the type of equipment used and even on the province that you live in.
