Investing in a solar energy system for your home will require an initial investment. Sometimes the initial expenditure is more noticeable than others which is why it is suggested that you try to install solar roof tiles when you are re-roofing your home. However, if your home is not ready for a new roof and has at least 25 years of life left in it, you may want to consider solar PV (photovoltaic) panels which can be installed independently on top of your existing roof tiles.
Using a Solar Panel Calculator
Even so, there is a feed in tariff programme that will compensate for solar energy production. In order to figure out what size solar panels you will need to power your home and how much you will net from the feed in tariff, simply use a solar panel calculator or a feed in tariff calculator. A basic solar PV calculator is a software program that asks for a few bits of information in order to make calculations such as how many and what size solar PV panels you will need as well as determining how much energy you will be able to produce.
How Long Will It Take to Pay Off the System?
The next thing a solar calculator can do is help you determine how long it will take to totally pay off the system. On an average, it takes approximately 8 to 10 years of using the feed in tariff to make back your initial investment although each system is a bit different. Based on statistics, the average system provides about an 8 to 10% return on the investment which is why it takes that length of time to get a total payback. However, be advised that only MCS certified solar equipment installed by an MCS certified contractor will be eligible for the feed in tariff and the 20 year guarantee. This is why you should take a closer look at what your Solar PV calculator has just told you. After year 10, all that money is clear profit!
