A spreadsheet is kinda required to really know the payback time ie. When total money saved>total money spent. It's highly dependent on the size of system, output of system, energy use, and what you think will happen to the price of electricity. You're right in worrying about the future with more utility scale solar perhaps forcing removal of incentives, but a home battery would make that worry irrelevant.
Here's my numbers, but keep in mind I pay for electricity differently in BC so the calculation is simpler. I also anticipate getting a heat pump, another EV and hybrid hot water tank at some point in the future so I can use a bigger system. I also anticipate our electricity costs will increase in BC. Currently, with BC Hydro we pay on a two month billing cycle and it's 9.59¢/KWh for the first 1350 KWh, then 14.22¢ after that which makes the calculation a bit tough. However, we don't pay all the different fees you do as the cost per kwh is inclusive of all of it. BC Hydro offers full net metering so my bill is simply input minutes output.
Cost of 10.9 KW system including panel upgrade and tax minus grant- $26,738
Current power bill /yr - $1550
Yearly power bill after install - $240/year
That's a significantly long payback (over 20 years) at current electricity prices. However, as I'm always going into the second tier of pricing, any additional load with heat pump or EVs is actually very expensive as it'll be @ 14.22¢/KWh. It also doesn't include any electricity price increases which is highly unlikely as we electrify things. It also will increase the resale value of my home, so it's not really money lost. With a 10 year interest free loan my payments will be $220 a month and my bill will be a little more than $100 a month cheaper. So in the end I will pay $100-120 more a month for ten years at all current costs, with the hedge that it will save me much more in the future
Last edited by Street Pharmacist; 06-07-2023 at 09:52 AM.
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If I had $100K to spend frivolously, I think I'm more excited about Tesla solar roofs than a Tesla EV right now. I know it's ridiculously expensive, but I love how sleek it is vs traditional panels and I also like how it basically will have more solar coverage than a handful of panels at 35% of the tiles being the actual tiles.
5 years time. I hope the price drops to 1/2 or 1/3.
It looks like someone laid hardwood down with horrific looking alignment. Tesla's at least look like alternate pattern almost brick laying like. And this other company that did an alternate pattern, left gaps on the edge of the house. Bizarre how bad it looks and why they don't address and change it.
But either way, I'm excited for solar roof tiles that are implemented well. I am not a fan of the look of panels at all IMO. Obviously price for such tech is still super high.
A spreadsheet is kinda required to really know the payback time ie. When total money saved>total money spent. It's highly dependent on the size of system, output of system, energy use, and what you think will happen to the price of electricity. You're right in worrying about the future with more utility scale solar perhaps forcing removal of incentives, but a home battery would make that worry irrelevant.
Here's my numbers, but keep in mind I pay for electricity differently in BC so the calculation is simpler. I also anticipate getting a heat pump, another EV and hybrid hot water tank at some point in the future so I can use a bigger system. I also anticipate our electricity costs will increase in BC. Currently, with BC Hydro we pay on a two month billing cycle and it's 9.59¢/KWh for the first 1350 KWh, then 14.22¢ after that which makes the calculation a bit tough. However, we don't pay all the different fees you do as the cost per kwh is inclusive of all of it. BC Hydro offers full net metering so my bill is simply input minutes output.
Cost of 10.9 KW system including panel upgrade and tax minus grant- $26,738
Current power bill /yr - $1550
Yearly power bill after install - $240/year
That's a significantly long payback (over 20 years) at current electricity prices. However, as I'm always going into the second tier of pricing, any additional load with heat pump or EVs is actually very expensive as it'll be @ 14.22¢/KWh. It also doesn't include any electricity price increases which is highly unlikely as we electrify things. It also will increase the resale value of my home, so it's not really money lost. With a 10 year interest free loan my payments will be $220 a month and my bill will be a little more than $100 a month cheaper. So in the end I will pay $100-120 more a month for ten years at all current costs, with the hedge that it will save me much more in the future
I posted this a while back, but it's all updated now. I anticpate a little more than 8 years payback, not including the additional income from carbon credits which should take about a year off.
Is there any incremental insurance that needs to be added into this equation?
I am with TD, they told me as long as it is attached to roof, which they are, the system is considered part of the roof and fully insured. There was no extra premium when I installed mine.
YMMV
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Finally got my system inspected by the city so it's producing as of today. Cool to see there is production today even though its mostly cloudy/rainy
I'd like to hear an update on when you receive microgen status approval from Enmax for your installation.
I'm on week three since my city inspection and application submission by my installer (Zeno) and I still don't have approval. I don't know if it is my installer that screwed up or if it is Enmax but I'm starting to get really pissed off. I've talked to my installer twice in the last 5 days for an update and they say they are certain it will be done by the end of the week and that Enmax is just bogged down with applications right now but I feel that someone screwed up something in the process and I'm just not being told about it.
I'd like to hear an update on when you receive microgen status approval from Enmax for your installation.
I'm on week three since my city inspection and application submission by my installer (Zeno) and I still don't have approval. I don't know if it is my installer that screwed up or if it is Enmax but I'm starting to get really pissed off. I've talked to my installer twice in the last 5 days for an update and they say they are certain it will be done by the end of the week and that Enmax is just bogged down with applications right now but I feel that someone screwed up something in the process and I'm just not being told about it.
I will keep you updated on mine, but I wouldn't be surprised either if it's an Enmax problem. Everything from my installer has been quite efficient
I will keep you updated on mine, but I wouldn't be surprised either if it's an Enmax problem. Everything from my installer has been quite efficient
Finally received microgen status today so I can start making money from my power generation. It took 19 business days instead of the 10 business days which was originally stated.
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