How long is the estimated payback for installing solar panels on your - ProProfs Discuss
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How long is the estimated payback for installing solar panels on your home?



A. 3-5 years
B. 8-10 years
C. 15-20 years
D. More than 30 years

This question is part of

Earth Day 2009
Asked by Mayhew, Last updated: Jun 10, 2020

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1 Answer

John Smith

John Smith

Answered Sep 08, 2016

8-10 years-with the tax credits for installing solar panels, and buy-back of generated electricity at preferred rates, generally an individual can reach a break-even point of their roughly $20,000 investment in about 8-10 years. solar panels are generally rated to last at least 30 years. madisons city council is considering a program similar to that instituted in berkeley, ca, where the initial costs are paid by the city, with repayment charged through a special tax assessment on the house, similar to how home-owners pay for new sewers and sidewalks. done properly, the annual tax assessment matches the cost of savings on your electrical bill, so your cash flow is break-even.
 

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