Two most important factors that determine your clean energy system payback
Every consumers that call in to inquire about a solar panel or wind power system ask, “when will the system break even?” Obviously this is a very important question in the decision making process for a clean energy system, but often the consumers are not prepared to calculate their return on investment because most consumers don’t understand their costs.
Your electric bill is the first place to start, most people just pay their electric bill every month without really understanding their rate or how they are being charged, since customers previously did not have a choice in producing their own energy, most people just pay the dollar amount on the bill without thinking about it.
When you decide to install a grid tied solar panel or wind power system a more in-depth analysis needs to be conducted to figure out the break even point of a proposed system. The two most important factors to determine the return on investment are the following:
- how many kilowatt hours (kWh) are you using per month? what is your daily usage?
- what is your electric company charging you per kilowatt hour (kWh)?
Every customer is different in terms of how much they use and the electric rate they are paying the utility company. So the moral of this story, before you even dream about what type of solar panels your going to buy or think how awesome it would be to have a wind turbine on your farm, get real and start by understanding your electric bill before you make the call to inquire about a clean energy system.
