Editors JOE JET Posted February 28, 2023 Editors Share Posted February 28, 2023 Quote Attempt any DIY project at your own risk. Follow local code. Working with electricity can be dangerous. Here are my numbers. I have an 8.06kw solar system. It cost me $13,300 (before incentives) With the federal incentive for 2020 (26% tax credit) and my state tax credit ($1600) it brings the cost of my system down to $8,243. Remember these are 2020 prices. Tesla would have charged me $17,000 to install a 7.56kw system in 2020. Another company bid $21,200 for an 8kw system. and a fourth company was $21,700 for fully installed 8.68kw (all those bids are before government incentives) My energy costs around $0.11 per kWh on average. Using a solar calculator like the one here: https://pvwatts.nrel.gov/ I can see that my system will generate about 12,000 kWh per year. Which is about $1,319 worth of energy. So my system will 'pay itself off' in about 6.2 years with incentives, and 10 years without the incentives. The best part though, is that over 30 years my panels will generate around $35,000 dollars worth of energy. Far more than what I paid. And they'll keep on making energy longer than that. Totally worth it. Quote Link to comment Share on other sites More sharing options...
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