Energy expert shares financial formula for homeowners interested in solar as an investment strategy: ‘It’s more complicated’
If you’ve contemplated installing solar panels at your home but hesitated because the finances felt overcomplicated and unclear, you’re not alone.
Fortunately, there’s a fairly simple formula you can use to crunch the numbers and decide if solar makes sense for you.
CNET recently explained how you can calculate your solar payback period, which is the length of time it will take for your solar system to pay for itself.
The outlet spoke with Jamie Haenggi, president of ADT Solar, who explained that the average payback period in the US is anywhere from six to 12 years. Nevertheless, she said, each system and household’s needs mean a slightly different calculation.
“It seems like an easy answer, but it’s more complicated,”…
