How long will it take to pay back my investment in the Sol Partners Cooperative Solar Farm?
It is anticipated that one 210 watt panel will produce about a 3% return on its investment or approximately $32 per year in electricity credits. Since the solar farm will be built to maximize electric production it is assumed that this panel would produce at least as much if not more than a similar panel located on a customer’s home.Considering a 5% escalation in future electric rates and the performance of the system, the payback could be realized within 20-25 years. Solar seems expensive and doesn’t appear to have a very good payback. I thought the energy from the sun was free. The energy from the sun is free, but the cost of equipment used to convert that free energy into usable electric energy is still very expensive. While the cost of solar equipment has come down over the last 10 years, it still represents one of the most expensive ways to produce electricity. If a quicker payback is important to you, we suggest looking into a number of energy efficiency measures that have a more
