Depends on the region and supplier, but generally speaking the price per kW of solar install has been dropping like 20-50% per year.
Let’s say you spend $5,000 on 5 kW of panels and your monthly energy bill is ~$200. It’ll take 25 months or just over 2 years for the panels to break even.
However, panel substrate materials tend to die after 25 years of service life, so for the remaining 23 years that they exist, they will be making you ~$4,600/year (since you no longer pay for electricity).
The main positive of solar is that the sun will literally outlast human civilization and is about the closest thing to free energy that we have in our fucked up world. No one rushes over with an umbrella in public parks and charges tariffs.
Depends on the region and supplier, but generally speaking the price per kW of solar install has been dropping like 20-50% per year.
Let’s say you spend $5,000 on 5 kW of panels and your monthly energy bill is ~$200. It’ll take 25 months or just over 2 years for the panels to break even.
However, panel substrate materials tend to die after 25 years of service life, so for the remaining 23 years that they exist, they will be making you ~$4,600/year (since you no longer pay for electricity).
The main positive of solar is that the sun will literally outlast human civilization and is about the closest thing to free energy that we have in our fucked up world. No one rushes over with an umbrella in public parks and charges tariffs.
Just food for thought.
Even half of that is insane. I can’t think of anything in history that has come close to that rate of price fall.