Solar panels help achieve energy savings from reduced electricity bills. The energy produced from the system (directly from solar, or via a battery) can serve the loads in the home and reduce energy needed from the grid. However, in some states, the payback period can be as short as five years or as long as 15. In this guide, we'll help you calculate your solar panel payback. The time required to recover solar energy depends on several factors, including installation costs, energy production rates, and system efficiency. Energy Information Administration. Yet many homeowners still hesitate because of cost, myths and confusion about how the technology actually works. With electric utility rates climbing in. The all-in-one U. solar calculator — enter your ZIP code and electricity bill, and it returns your recommended system size in kW, the number of panels, the roof area you need, the gross install cost, the annual savings, the payback period, the 25-year lifetime profit, and the CO₂ offset.
