Solar Payback Calculator Canada

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. 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 period refers to the amount of time it will take for your solar panels to produce the initial investment cost.

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Enter data of the photovoltaic energy then the data estimated cost of the plant then data eletrica bill.

Solar payback calculator canada.

See how long it will take for a solar system to pay for itself. 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. Is just above 8 years. Conclusion on solar payback calculator.

Before you begin you will need to collect. The simplest way to calculate solar payback is to use the simple payback method. Cost of solar power in canada 2020. 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.

The typical solar payback period in the u s. Solar payback in alberta. 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. Home solar tools photovoltaic payback photovoltaic payback economic analysis of a photovoltaic system with the determination of payback and chart.

You can however calculate the timeline yourself and see how long it takes before you start turning a profit. The simple payback method calculates the number of years it will take for your solar system to pay for itself. 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. Solar power solar pv has solid economics in alberta and has enjoyed exponential growth largely without any government incentive.

Our solar payback and roi calculator will help you make conscious decisions about your switch to a more environmentally friendly way to consume power. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. In canada this timeline varies from 8 to 16 years and again depends on your current province. How is the solar panel payback period calculated.

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. 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 savings payback calculator. Verifying the results of operations in the graph and table.

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.