Solar Savings Calculator
Calculate Solar Savings
Estimate savings and payback period for solar panels
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Formula
Daily Output = System kW x Sun Hours x 0.80 | Annual Savings = Daily Output x 365 x $/kWh | Payback = Net Cost / Annual Savings
Frequently Asked Questions
How much can I save with solar panels?
Savings depend on system size, sun hours, and electricity rates. A typical 8 kW system in an area with 4.5 peak sun hours saves $1,200-$1,800 per year at average electricity rates.
What is the payback period for solar panels?
After the 30% federal tax credit, most residential solar systems pay for themselves in 6-10 years. With rising electricity costs, the payback period may be shorter. Solar panels typically last 25-30 years.
How many peak sun hours does my area get?
Peak sun hours vary by location. The US Southwest averages 5-6 hours, the Southeast 4-5 hours, the Midwest 3.5-4.5 hours, and the Northeast 3-4 hours. Check the NREL PVWatts calculator for your specific location.
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