Calculate the upfront costs of installing solar panels, including equipment, labor, permits and any additional expenses. Factor in available incentives and rebates to determine your net investment.
Estimate your annual electricity savings by multiplying your system’s kWh production by your current cost per kWh. Don’t forget to account for rising utility rates over time.
Divide your net investment by your annual savings to calculate the number of years it will take to break even. After this point, your savings will exceed your initial costs, generating a positive return on investment.
Consider the long-term …