The payback period for your solar PV system stands for the amount of time it takes for your initial investment in the solar system to be recovered from the savings it yields. The Return on Investment (ROI) refers to the effective returns that your investment would generate throughout the life of the solar system. The higher your monthly savings on power bills from solar is, the quicker your initial investment would be repaid and the higher your ROI would be. Typically, commercial & industrial consumers should expect payback in 3 – 5 years and residential consumers should expect payback in 5- 7 years. Once the initial cost of your system is paid back, the energy generated by it for the next 18 – 22 years is almost free of cost.
The point to note when it comes to ROI of your solar investment is that the returns are assured. Unlike other market investments which are subject to risks, investment in solar gives assured returns as solar systems will always generate electricity till the sun is around.
Run the MYSUN Calculator to determine your ROI today.