Solar Panels And Their Impact On The Grid For Your Finances

Humans have a lot of questions. We are an inquisitive species. People frequently get caught up in the payback period of solar panels but they never seem to ask themselves:

“What is the payback timeline or ROI of using grid electricity?” 

Isn’t a payback period of 15 to 20 years better than a continuous payback period?

Another way of thinking about this investment is to relate it to a vehicle or a house.  You wouldn’t rent an apartment for 30 years, would you?  You wouldn’t rent a vehicle for 30 years, would you? Maybe 5 years, but then you might get bored, hard to say. The newer something is, the more likely its more reliable

Yes, it is a major up-front investment but it makes much more sense to purchase your home/vehicle to save money over the long-term and make equity in the asset.

With this in mind, it is essential to correlate the relative payback period of solar panels. This is done by observing how much money would be spent on continually renting grid electricity vs. owning your solar power.   Using the same model and assumptions, as shown above, the results are explained.

A Timeline Of Payback For Solar Panels

This timeline for the payback period for solar panels varies from place to place. It is moderately staggering to see how much money is wasted on continually renting electricity for 30 years.  This article shows that you might save $100,000 over a 30-year span.  Given that value is future dollars which have not factored inflation or discounting.

Many people get hung up on the ‘long’ payback period but don’t frequently consider that by not using solar power, you are still giving away thousands of dollars every year with no results or equity in a tangible asset.

The relevant payback period gives a more accurate portrayal of how much money you are saving/earning from an investment in solar panels. 

In Summation

I hope you reflect on the whole financial scenario when deciding whether or not to buy solar panels.  Yes, it is a major upfront cost but much like buying a home, the cost will pay back over time. 

As the efficiency increases and the price of solar panels decreases, the relative payback period for solar power systems will continually become even more favorable for consumers. 

Typically, every scenario will differ somewhat so these returns may not be the ones that you will see, but the overall outcome will be the same and in almost every case:

Investing in solar panels is a financially reasonable long-term decision. And, there are many companies you can choose from.  Wouldn't it be amazing to settle into a great deal with a company that can offer you some great deals while giving you the certainty of product integrity? 

The costs of solar are changing every day, but we are at an all-time low today.  Here at HahaSmart, we have the lead on the best deals available.  We specialize in connecting purchasers with local installers that compete with a price to gain you the savings. We then time is right, we will also get you a great deal on solar panels. We have the lead on gaining the best deal on the actual products. We have a direct link to the manufacturer, and this makes it possible for HahaSmart as we can offer the very lowest price on solar panels of any company on the market. We are the best and we can prove it.

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