So what is the payback timeframe for a residential solar system?
The payback timeframe of each system varies based on the size of the system and rebates available through each utility company. However most residential systems produce an annual return on investment between 11-14% initially. Return on investment increases over time, based on the rising cost of electricity. All considered, this puts the typical payback timeframe for the average residential system between 7 and 9 years. Additionally, this means that a solar system will pay for itself three or more times over the life of the system.
Want to learn more? Visit us at www.altewindandsolar.com or call 970-482-7652