I am interested… but first tell me more about the PAYBACK PERIOD.
Here you go, solar payback period is the time it takes to make back or ‘break even’ on your initial investment in solar and when exactly this expenditure of yours can start to earn you money.
To help improve the returns of the solar investment, the Ministry has introduced the concept of Net Energy Metering (NEM), giving room to a shorter payback period of 4-7 years for residential projects as compared to the previous Feed-In Tariff (FiT) system which has a longer window of 6-8 years.
Knowing full well that solar solution yield a robust business and residential advantage, the exact payback period depends on a number of different factors, including:
Your Average Monthly Electricity Use/Average Electricity Bill
In markets with expensive utility rates, the payback period from installing solar is comparatively short. Therefore, the first step in beginning your solar PV project is evaluating your current energy bill. The amount of electricity consumption determines the size of the solar system needed and the amount of electricity you can offset with the solar panels. Hence the higher the electricity bills are, the shorter payback period it will be!
Don’t forget the Gross Cost of the Solar PV Installation
Increased utility electricity rates and lower equipment pricing are making it easier and less expensive for homeowners to own solar panels today. The gross cost of installing solar on your home is dependent on the size of the system you select and the equipment that makes up that system.
Estimated Electricity Generation
While solar installers try to provide you with a system that matches your electricity consumption, practical constraints like the size of your roof and unpredictable weather variation may impact the amount of electricity produced.
Taking all these into consideration, you don’t have to wonder or even worry about how long your installation of solar panels can yield solid financial returns while generating power for your household. Solar, after all, is a low-risk investment offering lower monthly bills, a smaller carbon footprint, and decades of renewable electricity make solar a smart option for many of you.
How to enjoy this deal? Just click on this link seek free professional assistance from Verdant Solar right away: https://verdantsolarold-temp.malaysiaweb.my/solar-ventilator-for-home/. Voila!
