On hot sunny days like this when we are running the air conditioner pretty much all day my thoughts turn to solar power. I was wondering what the break even time was for solar, using numbers (below) for Austin, TX electricity and raw panels, retail price. I realize there are (possibly large) installation costs and other support hardware, but just as a stake in the ground for a number. I was surprised that at the top tier the payback was less than two years.
Panel Cost | Panel Watts | Sun Hours / Day | Electricity $/KWH | Panel kWH/Year | Panel $/year | Break Even (Years) | Notes |
$177.12 | 320 | 8 | 0.02801 | 934.40 | 26.17 | 6.77 | Austin Tier 1 |
$177.12 | 320 | 8 | 0.05832 | 934.40 | 54.49 | 3.25 | Austin Tier 2 |
$177.12 | 320 | 8 | 0.07814 | 934.40 | 73.01 | 2.43 | Austin Tier 3 |
$177.12 | 320 | 8 | 0.09314 | 934.40 | 87.03 | 2.04 | Austin Tier 4 |
$177.12 | 320 | 8 | 0.10184 | 934.40 | 95.16 | 1.86 | Austin Tier 5 |