The quintessential question is how long will it take to break even on the investment in a PV solar system. This is one of the primary financial questions anyone interested in a PV system should be asking and evaluating. There is no set answer as many variables play into the equation, but in Colorado the range is between 3-7 years for a system on a commercial property (added tax benefits like deprecation of assets help) and 7-11 years for a residential system. Some of the variables affecting price and payback are: Installing a larger system usually will cost less per PV kilowatt due to economy of scale; multi-directional roofs add complexity and potentially some cost; specialty systems that deal with some shadowing issues could add cost or extend payback time; A ground mount, while typically more efficient will cost more than a roof mounted system due to the need to build a structure to mount to; Older homes or commercial properties with electrical systems that do not meet current safety standards may add cost to the installation of a solar system. The best way to determine what the ROI (return on investment) would be is to have a solar PV installer provide an accurate bid to build an appropriately sized system for your desired address.
How long does it take for PV solar to pay for itself? (or) How long to break even on a PV solar investment?
By ARE Solar|2020-10-28T16:18:29-06:00February 11th, 2015|Uncategorized|Comments Off on How long does it take for PV solar to pay for itself? (or) How long to break even on a PV solar investment?