What is the cost & payback time of a solar system?
This is a tricky question because there are a lot of variables involved. System pricing can vary in different areas, and with changes to the cost of materials involved. Generally, with rebates and tax credits, the payback time of a solar system can run from 3-10 years. But the payback really begins on day 1. By not having to replace another heating, hot water, or electric power system, the idea of payback really becomes meaningless. Nobody ever asks what payback time on their furnace or hot water heater is. It is the same with renewable energy systems. Except that, in this case you are creating your own energy from the day you install the system. In some area, the power company will even buy back the excess energy you create from a PV system during the day. This is called net metering. The price they buy it at depends on your local energy provider.
