How long does it take to save money with solar panels?

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Title	:	How long does it take to save money with solar panels?
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Best way to do it is pay cash, and reinvest your energy savings each month, each year Will gain 8 annually in an S&P fund, greatly bringing down your payback period
Comment from : @chrise3859

Technical add for you - methodology is a group of methods - in most cases the correct word is method - all about practicalities: surveys, experiments, observations - suggestion for you - love your work thanks
Comment from : @thevidco

Why did the hailstone get kicked out of the solar panel party? br brBecause it couldn't stop cracking jokes about how easily it shattered their expensive dreams of endless sunshine savings!
Comment from : @007MegaRoll

Cost of electricity is one of the biggest factors If it’s cheap (10 cents per kwhr) like it is here, it takes 25 times longer than it would in Australia with 25 cents per kwhr
Comment from : @bpo6955

We have a 21kWp rooftop PV system in sunny Israel, which produces 4 times the electricity we use We get repayed for every kWh we push to the grid The payback time is 6 years
Comment from : @danielmadar9938

What many miss is the capital to buy solar compounded say 5 for 15 years on 30k is actually $62,368 (u would have made this if u just bought tbills
Comment from : @tuscanyjc

Pay-off' is not relevant Did u ask your Utility provider "When will we be able to quit renting electricity from you??" In contrast, Owning PV system is an Investment in Your Own power plant! andwhen you do pay off hardware costs to build, you are now getting a paybackyou are EARNING (like Income) the increasing amount you Would be paying the utility!! 🎉A dollar saved is a dollar Earned🌞🤓🌻🗽
Comment from : @solartime8983

When are you going to 'pay-off' your utility bills?
Comment from : @solartime8983

before that ROI your inverted will be dead lol
Comment from : @MDF4072

Thank your Sam, in Alberta Canada home builder offers 10 solar pantels to buyers and promises 50 savings on Electricityprices
Comment from : @JamesBurkinshaw

No payback calculation is complete, without including the opportunity cost of investing the capital in stocks and shares or property
Comment from : @IverKnackerov

Great video!
Comment from : @cobrafinancialsolutions1039

Well, in my case a qualified for a 000 dollar payment for my solar panels, including installation, and I saw how my monthly payment went from an average of 47987 USD a month to just 5117 USD a month ON THE VERY FIRST MONTH after being installed!!!! So I am able to save more than 430 USD/month just right out the bat, so my payback is NOW and is actually my profit, no waiting time at all!!!! and my system is running all the electric systems in a 3500 SqFt or 330 Sq/M, two story home!!!!!!
Comment from : @jorgerobles628

Here in Thailand I installed 20 kW of solar and 36kWh of LFP batteries It powers my house; electric car and electric motorbike without grid power Payback is less than 6 years
Comment from : @EcoHouseThailand

Solar panels on your roofs cost double or more per produced watt than utility scale projects It would make much more sense to invest in a bigger project and get a portion of that energy The problem is that the grid owner, even if it is the state, will charge way too much to transit the power
Comment from : @runeaanderaa6840

My latest monthly bill here in Nz was $80, sounds reasonable I used 160kwh of electricity The price for 1unit of electricity is aprpx 25c, the rest is the bullshit extras, the power companys add, and one of the spokesmanfor these companys stated that electricity prices will need to double in the next 5 yrs This is in a country which is over 85 renewables our biggest comsumer is a Rio Tinto company who pays 45c a unit and complains that is too expensive brSo hopefully, solar panels and batterybanks will keep dropping in price so we can completely disconnect from the grid at a reasonable cost
Comment from : @desrender4893

Here in Thailand solar is still expensive Tesla Powerwalls are $20,500 each, that’s more than twice the price of the USA When prices fall here in Thailand, solar will take off
Comment from : @grahamcampbell8297

Poland: I have net metering and installed 11kwp of solar for 10k EUR after 1k rebate from government Heat pump and electric car saves me 2000 euro a year Solar payback 5 years
Comment from : @TomekEV

How long does it take for coal fired electrical plants to pay for themselves Never
Comment from : @johnpublic168

Heartfelt wishes to your parents Sam Producing such a honest guy like you 😊
Comment from : @petersimms4982

My 3 monthly cost was $2,000 for my power so I got a 27kw system that cos me $26,000 and for the last 3 years I get paid $300 to $800 every 3 months No regrets!
Comment from : @douglasgreen9175

My solar system 66 kWh with 5 Kw inverter here in Victoria Australiasystem cost $7500 with subsidies inc $1800 solar Vic loan and $2500 small system solar credits Federal$1000 up front Payback is going to be about 35 years as price of power goes up WFH offsets have increased but export is down to 54 c per KWHsummer bill is zero and spring and autumn about $100
Comment from : @JDMediaMusic_

You save money straight away, but the payback period is (in my estimations on our system) is about 10 years Just in time for the panels to drop to 70 of originals rating Some may experience less time and longer life on their panelsbrIt depends on feed in tariff too, if you are selling to your retail supplier any unused energy, and of course service charges Not all things are sweet in the solar game It also depends on how much your supplier charges for a kWh of energy because you have solar Obviously, the elephant in the room is the amount of sun you receive in your neck of the woods and duration
Comment from : @GolLeeMe

We don't expect any of our other applicances or building components to "pay for themselves", why do we lay this demand on solar panels, EVs and hybrids?
Comment from : @Hybridog

Hello friends 🇮🇳🇮🇳🇮🇳
Comment from : @karolbagh3793

In Québec City, I use around 20 000 kw/h per year, while beeing very, very cautious with usage This include winter heating and a little air conditionning in summer Also, very cloudy also in winter Very different situation indeed ! brBut, since tarif for electricity is only about 0,065 Euro each kw/h, the payback here for solar could be very, very long brWe rarely see solar panels installed here
Comment from : @nomadtom9678

A lot of solar energy companies aren't interested in installing solar on your house if your electricity usage is lower than average
Comment from : @elephantintheroom5678

Just before the pandemic I bought 2000w of new Jinko panels for $1000 with 9kw of LFP Even with my tiny system I have saved 4 grand in 3 years I am just waiting for some kind of affordable thin film solar to come on the market so I can fit more solar on my walls to make winter much easier
Comment from : @jedics1

I pay 011 KWh… not worth it…
Comment from : @skepticalmechanic

I'm in Melbourne Australia and I was paying AU$1800 per year for power, 5 years ago I installed 64kW of solar, which after rebates, cost me AU$3050 out of pocket A simple calculation will show you that $3050 divided by $1800 is 17 years, or, approximately 19 months In the last 5 years I have not paid a cent for power As they say, your mileage will vary
Comment from : @greghudson9717

We installed a 5kva solar system in in 2011 South Australia , they halved our bill by $1,500 a year, outlay was $5,999 In August 2019 we added a Tesla 135 Kva battery Figures from today's read out 13/5/2023 are, Home Usage 2040 MWh, Solar 42, Powerwall 39, Grid use 19
Comment from : @ralph04ification

In Arizona it’s 4 days
Comment from : @beerman1957

IfI invested what I would spend on a solar installation in the stock market instead, I would probably more than double my money in 10 years So, it's not really a no-brainer to go for a 10-year payback
Comment from : @mnhsty

I think many people who invest in PV, in countries that produce power from renewables, basically struggle with mathsbrbr(As you said correctly Sam, countries that produce the majority of their power from renewables have the cheapest electricity)brbrSome buyers just want to be “self sufficient “ they are “smug”brbrBut what is the joy in being smug if it’s costing you money? 🤦‍♂️
Comment from : @maxflight777

I couldn’t disagree more SambrThe price of the panels has reduced but the Inverter only lasts between 5 and 10 years
Comment from : @maxflight777

In Southern California, I save about $1K/yr on a small grid tied 4kw system that cost $12K 12 years ago So it’s all gravy now But, I’m thinking of upgrading to a 6 to 8 kw system using the existing roof solar footprint and adding a backup battery A 20 kw backup battery should meet my needs, but, possibly, I would also consider Vehicle To Home capability I expect a 6kw system and one 10kw battery, to cost about $35k, and I will save about $2k/yr Incentives, about 30, hopefully So $25k net cost, 12 yr payback A second 10kw battery and/or V2H, will no doubt cost more I’m not sure the payback period would make sense for the additional storage I might be waiting a few more years for better prices
Comment from : @lucidf8

Calculating the payback in years until paid for grossly misrepresents the financial returns of solar How can you compare say 10 years with 4 capital costs??? It should also be stated in after tax returns that 10 year payback is what 11 after tax return?
Comment from : @michaelberger6699

California electric utilities is are raising prices insanely fast 20 percent this year alone This can make solar pay back period happen a lot faster
Comment from : @bradwright491

As long as the crazy Maga Republicans don't destroy the industry
Comment from : @mikebocchinfuso9437

Excellent summary that does not try to blindly say solar is right for all
Comment from : @MrEd2291

We are retired on Social Security in the US We don't pay any taxes so if there is say a $10,000 tax credit, does that mean we can't take advantage of the tax credit and have to pay full price?
Comment from : @josephregallis3394

76 kw system paid for itself in 5 years here in NSW That would be typical for Australian payback The system has generated 102000 kwh with zero issues The key is not to go cheap on components, esp inverters brbr8 years now with about 5 degradation Long term grid consumption 12kwh per day family of 5 and 1 EV only charged during the day This has our Model 3 averaging 38g/km CO2
Comment from : @Rabs73

If the US pays double that of Australia we need to get this price down The US uses double the amount of oil compared to any other country We also use 60 more Natural Gas compared to any other country My point is the opportunity is there to make a huge difference to cutdown the US usage of fossil fuels If the panels cost twice as much as Australia why? Do we need to build more of these in the US to take advantage of the federal tax credits now for manufacturing solar panels? Perhaps this makes a big difference? I wish I was allowed to provide a link but just look up manufacturing federal tax breaks for solar panels I don’t know if this makes it cheaper than China What do you think? ❤❤❤
Comment from : @Beatles4Sale

I really don't want to put solar on my roof Community solar could be a better solution That way they the project could be crowd sourced for solar and batteries
Comment from : @gamesndrinks

Acording to current electricity price rise , my PV instalatnion will pay off after 7 Years ( as it started at 2018 in late 2025 it will be paid off )
Comment from : @lesnypatrol7292

I’m very envious that Australia is half price! The cheapest I could find was Tesla They were double what we pay for electricity for 15 years So it is $190 (monthly electricity bill) vs $390 per month for 15 years This is after the incentives This is with one Powerwall Obviously we have a long way to go! Don’t forget the higher interest rates for a loan today If I was much younger I might consider it brbrIt only adds value to your home if you own the panels Usually a new homebuyer doesn’t want to takeover the loan for solar panelsbrbrPerhaps our electricity is much cheaper because we are part of a cooperative Also we can’t cut trees or branches down Not allowed with homeowners agreement
Comment from : @Beatles4Sale

The panels aren't the only cost You also need the power electronics, the wiring, conduits, junctions and circuit panels, as well as the labor to install it all
Comment from : @GregHassler

Also factor in:brDegradation of Panels and BatterybrTime at house during daylight hours (especially if no battery)
Comment from : @SickocrowAU

It's wrong to focus upon payback Do you calculate the payback period of a holiday, an expensive meal or even a new car? Instead you should focus upon the "enjoyment" you derive from the solar panels such as energy independence (partly), the satisfaction of helping to aleviate climate change Money isn't everything
Comment from : @grahamcastle8189

The solar panels shading the car parks is win/win
Comment from : @3DThrills

Hello mate its 7 pm here
Comment from : @MrGMawson2438

The state of Arizona gets more sun hour's than any other state
Comment from : @Istandby666

Policy support should shift away from residential rooftop solar According to Lazard, from a Levelized Cost of Energy (LCOE) per kWh perspective, residential solar averages roughly 5x the price of utility-scale solar To put it another way, for the cost of just the Federal tax credit, the government could cover the entire price to install more utility-scale solar generating capacity and have money left over Utility-scale storage is also much cheaper, and it is easier to manage the grid at the utility scale It may make sense politically to give another tax break to homeowners, but it is not an efficient use of funds and not the most effective way to decarbonize the grid
Comment from : @larryevans6739

Ok, I gotta say the stock video of the "young couple" looking serious while being lectured on solar panels, while they were holding little mini-solar panel samples, was hilarious For some reason I couldn't stop laughing
Comment from : @junkerzn7312

Like most Americans my life's carbon footprint has been huge when compared to people in underdeveloped countries carbon footprints My solar system is my attempt at a small payback I am an "old fart" I may or may not live long enough to break even on it, however it will continue to produce power after I am dead and gone
Comment from : @EverhardVideos

We've got a 16kw grid tied ground mounted solar system which cost after all incentives $30,840 USD We live in the Hudson Valley in upstate NY USA The electric rate is 281/kWh and the monthly payment was $446 which translates to over $5000 a year We have a pool, geothermal heating and cooling, and an electric car in fact everything is electric There is a $21 per month basic charge from the electric company that will always have to be paid We have net metering which makes the grid our battery The system is producing enough power to run everything and we are saving $5000 grand plus a year so the payback will be about 6 years
Comment from : @chrismaxny4066

As always please leave the graphs on the screen while you talk
Comment from : @whowhy9023

Speaking of UK weather I think there should be heavy fines for anyone making an automotive or motorcycle channel on youtube based in the UK triple the fines if they take it to a track for testing and the place is soaked (because it will be)
Comment from : @AlistairBalister