Taxi Service Calculator

Solar Panel Savings & Payback Calculator

Your Solar Estimation

Yearly Savings

$0.00

Payback Period

0 Years

Recommended System Size

0 kW

25-Year Savings

$0.00

function calculateSolar() { var bill = parseFloat(document.getElementById('monthlyBill').value); var rate = parseFloat(document.getElementById('elecRate').value); var sun = parseFloat(document.getElementById('sunHours').value); var cost = parseFloat(document.getElementById('systemCost').value); if (isNaN(bill) || isNaN(rate) || isNaN(sun) || isNaN(cost) || rate <= 0 || sun <= 0) { alert("Please enter valid positive numbers for all fields."); return; } var monthlyKwh = bill / rate; var yearlySavings = bill * 12; var payback = cost / yearlySavings; // System size formula: (Monthly kWh / (30 days * sun hours)) / efficiency (0.75) var sizeNeeded = (monthlyKwh / (30 * sun)) / 0.75; var longTerm = (yearlySavings * 25) – cost; document.getElementById('yearlySavings').innerHTML = '$' + yearlySavings.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('paybackPeriod').innerHTML = payback.toFixed(1) + ' Years'; document.getElementById('systemSize').innerHTML = sizeNeeded.toFixed(2) + ' kW'; document.getElementById('longTermSavings').innerHTML = '$' + longTerm.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('solar-results').style.display = 'block'; }

Understanding Your Solar Investment

Switching to solar power is more than just an environmental choice; it's a financial strategy. By generating your own electricity, you reduce your reliance on utility companies and protect yourself against rising energy costs. This calculator helps you determine the economic feasibility of installing solar panels on your property.

How Does the Calculation Work?

Our solar panel savings calculator uses four primary data points to estimate your return on investment:

• Monthly Electric Bill: This determines your current energy consumption and the baseline for potential savings.
• Cost of Electricity: Rates vary significantly by region. The higher your utility rate, the faster your solar panels will pay for themselves.
• Daily Peak Sun Hours: This is not the total daylight, but the equivalent hours when sunlight is strong enough to produce maximum power (usually between 3 to 6 hours depending on your location).
• Total System Cost: The upfront price of the installation before or after federal and local tax incentives.

What is the "Payback Period"?

The payback period is the amount of time it takes for the cumulative energy savings to equal the initial cost of the solar system. For most residential solar installations in the United States, the average payback period ranges between 6 to 10 years. Since solar panels typically last 25 to 30 years, you could enjoy 15+ years of virtually free electricity.

Example Scenario

Imagine a homeowner in Arizona with the following profile:

• Monthly Bill: $200
• Electric Rate: $0.13/kWh
• Peak Sun Hours: 5.5 hours
• System Cost: $18,000 (after incentives)

In this case, the homeowner saves $2,400 per year. The payback period would be 7.5 years, and the total savings over 25 years would exceed $42,000.

Factors That Influence Your Savings

While the calculator provides a strong estimate, several factors can shift the results:

1. Roof Orientation: South-facing roofs in the northern hemisphere produce the most energy.
2. Shading: Trees or nearby buildings can reduce panel efficiency.
3. Net Metering: Some states allow you to sell excess energy back to the grid at retail rates, while others offer lower wholesale rates.
4. Tax Credits: The Federal Investment Tax Credit (ITC) can reduce your system cost by up to 30%, significantly shortening the payback period.