Re:Solar Panels Reduced My Electric Bill by $2,677 in 2022
by brianbreslin on Tuesday January 03, 2023 @01:29PM
(#34235617)
What's the math if we see annual electricity price increases? we've seen 2 hikes of 10-20% in the last 18 months here in Florida. Making me consider solar sooner rather than later.
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Re:Solar Panels Reduced My Electric Bill by $2,677 in 2022
by chongli on Tuesday January 03, 2023 @01:49PM
(#34236004)
If the savings is $2677 on year 8 (first year of profits after paying off the initial investment) and then increases 10% every year after that, the net return is $33675. This works out to an annual return of 7%, a considerable improvement! The same calculation with annual rate increases of 20% yields a net return of $53002 and an annual return of 9%.