Solar Panel Savings Calculator
Solar Panel Savings Calculator estimates annual energy production, savings, payback period, and lifetime savings for a solar PV system based on your electricity usage and system details, with detailed steps and visualization.
Result:
Formulas Used
- Annual Energy Production (kWh):
System Size (kW) * Sunlight Hours * 365 * 0.85 - Annual Savings (USD):
Annual Energy Production * Electricity Rate - Payback Period (Years):
Installation Cost / Annual Savings - Lifetime Savings (USD, 25 years):
Annual Savings * 25 - Installation Cost
Examples and Solutions
- Example 1: Bill:
$150, System Size:6 kW, Cost:$18000, Sun Hours:5, Rate:$0.17/kWh
Solution: Energy:5584.5 kWh, Savings:$949.37/yr, Payback:18.95 yrs, Lifetime:$5723.13 - Example 2: Bill:
$200, System Size:7.2 kW, Cost:$20000, Sun Hours:4.5, Rate:$0.20/kWh
Solution: Energy:6026.4 kWh, Savings:$1205.28/yr, Payback:16.59 yrs, Lifetime:$10132.00 - Example 3: Bill:
$100, System Size:5 kW, Cost:$15000, Sun Hours:5.5, Rate:$0.15/kWh
Solution: Energy:5118.75 kWh, Savings:$767.81/yr, Payback:19.53 yrs, Lifetime:$4195.31 - Example 4: Bill:
$125, System Size:6.6 kW, Cost:$17000, Sun Hours:5, Rate:$0.18/kWh
Solution: Energy:6142.95 kWh, Savings:$1105.73/yr, Payback:15.37 yrs, Lifetime:$10643.25 - Example 5: Bill:
$175, System Size:8 kW, Cost:$22000, Sun Hours:4, Rate:$0.22/kWh
Solution: Energy:4964 kWh, Savings:$1092.08/yr, Payback:20.15 yrs, Lifetime:$5302.00