CoolTech
Member
ROI timeframes will vary a lot I suppose based on where you live (how much sun), energy rates, how much you pay for the solar (DIY will save you a LOT), and what kind of grid connections terms may be available in your area. We are just completing a new home & shop. In the planning phase I oriented the 85 x 41' shop so that it faces predominately South to accommodate the panels. I'm in SoCal - so we have a lot of sun and, unfortunately, high usage costs. My goal - which I believe we will achieve, is to have $0 energy costs on an annualized basis. (Yes, realistically, I will have a minimum admin bill of ~$40/mo.) We have just completed the installation - all DIY and thanks a lot for the help of my 31 year old son.
We have 63 365-watt panels connected via Enphase IQ8+ microinverters. The total out-of-pocket expense for the panels, microinverters, wiring, and mounting system was ~$36,000 and we will get a Federal refund of 30% so the true cost will be ~$26,000. Our new home is all electric (no gas) - so electric (Hybrid) hot water heater, clothes dryer, heating, oven and cooktop. We got our NEM 2.0 (grid connection) application in before the April 14th cut-off which is a HUGE benefit... and which is no longer available in California. We'll get a 20-year grandfather to stay in the program.
In short, during the mild temperature but mostly sunny days in Jan, Feb, Mar, April, and May we will be storing credits with the Utility company. Then, in the hotter months of June-Sept when we are running the AC, we will withdraw from the accumulated credits.... and most likely achieve a $0 balance on an annualized (NEM) plan.
As for the ROI, our energy costs on our older but much smaller home nearby was approximately $5,400. No doubt, energy costs will increase in the coming years so payback will come in less than 5-years. But - one should note that with the withdrawal of the NEM plan for new applicants, the payback scenario is going to worsen considerably. First, one would most likely need to consider the cost of battery storage and even with that the most common scenario is to capture (charge) batteries during the day and then use that energy during the evening hours. There's nothing equivalent to a NEM plan where you can capitalize on energy credits you built months prior.
We have 63 365-watt panels connected via Enphase IQ8+ microinverters. The total out-of-pocket expense for the panels, microinverters, wiring, and mounting system was ~$36,000 and we will get a Federal refund of 30% so the true cost will be ~$26,000. Our new home is all electric (no gas) - so electric (Hybrid) hot water heater, clothes dryer, heating, oven and cooktop. We got our NEM 2.0 (grid connection) application in before the April 14th cut-off which is a HUGE benefit... and which is no longer available in California. We'll get a 20-year grandfather to stay in the program.
In short, during the mild temperature but mostly sunny days in Jan, Feb, Mar, April, and May we will be storing credits with the Utility company. Then, in the hotter months of June-Sept when we are running the AC, we will withdraw from the accumulated credits.... and most likely achieve a $0 balance on an annualized (NEM) plan.
As for the ROI, our energy costs on our older but much smaller home nearby was approximately $5,400. No doubt, energy costs will increase in the coming years so payback will come in less than 5-years. But - one should note that with the withdrawal of the NEM plan for new applicants, the payback scenario is going to worsen considerably. First, one would most likely need to consider the cost of battery storage and even with that the most common scenario is to capture (charge) batteries during the day and then use that energy during the evening hours. There's nothing equivalent to a NEM plan where you can capitalize on energy credits you built months prior.
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