I've just passed the 1-year mark for my solar panels being online and wanted to share where things are at.
Numbers:
Grid electrical cost: $0.24/kWh
Generation payment: $0.1276/kWh
My average cost for electricity accounts for all fees, delivery, etc.
The generation payment is based on Massachusetts SMART program which is in effect for 10 years and only based on production, not consumption.
Over the past 12 months, my solar panels generated 11.04MW/h (11040/kWh) of electricity. Based on the numbers above, that nets me the equivalent of (0.24 + 0.1276) * 11040 = $4058. My electrical meter is measured as as net-metering. This assumes that any electricity that hasn't been consumed is retained in the form of a credit from my electrical supplier at the same rate and applied to other months where I use more than I generate.
My break even estimate right now is about 5.1 years for the system which is lower than I originally estimated of 6.1 years.
$21,000.00/$4058 = 5.1 years to break even.
Usage numbers...note that I only have a partial year in 2019 since I had just moved in on 3/5/2019. So from 3/5/2019 > 9/17/2019 there was basically no solar power for reference.
Read Date | Usage
(kWh) | Number of Days | Usage Per Day | Cost Per Day | Total Charge | Average Temp(°F) |
08/18/2020 | 617 | 32 | 19.28 | $4.32 | $138.11 | 76 |
07/17/2020 | 346 | 29 | 11.93 | $2.89 | $83.85 | 72 |
06/18/2020 | 0 | 30 | 0 | $0.23 | $7.00 | 65 |
05/19/2020 | 0 | 32 | 0 | $0.22 | $7.00 | 49 |
04/17/2020 | 0 | 29 | 0 | $0.24 | $7.00 | 43 |
03/19/2020 | 93 | 29 | 3.21 | $0.99 | $28.77 | 40 |
02/19/2020 | 485 | 29 | 16.72 | $4.16 | $120.55 | 33 |
01/21/2020 | 708 | 35 | 20.23 | $4.80 | $167.86 | 33 |
12/17/2019 | 608 | 27 | 22.52 | $5.14 | $138.82 | 35 |
11/20/2019 | 383 | 29 | 13.21 | $3.10 | $90.04 | 42 |
10/22/2019 | 50 | 35 | 1.43 | $0.51 | $17.83 | 56 |
09/17/2019 | 681 | 17 | 40.06 | $9.08 | $154.39 | 62 |
08/19/2019 | 1598 | 32 | 49.94 | $11.04 | $353.38 | 73 |
07/18/2019 | 1520 | 30 | 50.67 | $11.75 | $352.56 | 73 |
06/18/2019 | 932 | 32 | 29.13 | $7.30 | $233.70 | 63 |
05/17/2019 | 683 | 28 | 24.39 | $6.18 | $173.12 | 52 |
04/19/2019 | 773 | 30 | 25.77 | $6.50 | $195.02 | 45 |
03/20/2019 | 338 | 16 | 21.13 | $5.37 | $85.95 | 32 |
Generation numbers reported from my inverter: