Nowadays, the payback for many solar systems ranges from 5 to 8 years depending on the above variables. That's why it is important to get reliable, high quality equipment installed as the solar system owner only starts to earn a real income from their system after they paid off the initial outlay.
The payback on a solar system can vary across the country, depending on the local price of electricity, the local amount of sunshine and the electricity usage pattern in the home or business where the system is installed. In general, the more the electricity that is used on site and not exported to the grid for a low feed in tariff - the quicker the payback period.
If for instance it takes you 5 years to pay off a "budget" system and the system fails after 4 years and the panel or inverter manufacturer has gone bankrupt, the solar homeowner loses part of his investment. On the other hand if it takes you 6 years to pay off a "quality" system but the system lasts 25 years, the owner earns real cash for 19 years.
Therefore buying a cheap, quality compromised solar system, from a long term investment point of view, makes little sense. While the payback period should be considered, the more important factor is how much power the system produces and for how many years power is produced after the system has "paid itself back"
Interested in getting Solar Now? Feel free to talk with one of our Energy Experts by calling us now at 1300 732 679 or get a quote Here