We were finally able to do a full 12-month “look back” at our cost savings with solar energy, since upping our game to 29 solar panels. Our recent $5.77 electric bill only tells part of the story, because it is actually much better.
On top of that, when you factor in our sales of SREC’s (Solar Renewable Energy Credits) we came out of that 12-month period with $60 in our pockets, while we still have 479kWh “banked” for (free) future use with our net metering. That’s more than we used last month.
Of course everyone’s first question is how long will it take for the solar panels and Tesla Powerwall to pay for themselves. What’s commonly known as the R.O.I. or Return On Investment.
With all things being the same, that answer would be 11 years (but if we had only gotten solar panels without the backup battery, that answer would be 8 years). Meantime, we’ve had the security of a backup battery to cover our grid outages, which can be a major factor with the severe storms we’ve seen in recent months!
The National Solar Tour is coming up October 2nd and 3rd, so maybe it’s time to take a fresh look at solar energy for your home. We shared this video to be part of the virtual portion of the national tour.