How Does Solar Pay For Itself

How Does Solar Pay for Itself?

Net-Metering is a very effective way to reduce your electricity bills. When you install a solar system, you buy 25 to 30+ years of electricity in advance as you make the investment. Since electrical rates are not static, but increasing, the value of the electricity increases every year. Rates are forecasted to increase significantly in most provinces to cover aging infrastructure and the replacement of polluting electrical generation plants. For an installed cost of $30,000, 10kW of PV array will deliver over 400MWh over its 30 year life – a cost of 7.7¢ per kW/hr. The savings are even greater as you do not have to pay for the delivery for every kW/hr you produce yourself.

A well designed Net Metering system can basically eliminate your cost for electricity. Your monthly payment can be reduced to as little as the monthly account fee with your utility.

So at the end of a 30 year period you will have paid over $ 113,000 to the utility versus $ 30,000 at this time.

Makes sense?