We calculated the total savings over 25 years for this system and got $69,487.80, averaging $2,779.51 per year.
Net Cost With Rebate (Including HST): $23,220 | Payback period = 8.35 years.
Net Cost Without Rebate (Including HST): $26,220.00 | Payback Period = 9.43 years
To figure this out we take the estimated yearly kWh production of your solar system and divide it by your total yearly kWh usage. The result is an offset percentage, i.e. how much of your total electricity consumption that will be met by your solar system. This graph shows an offset of 97.7% because the system is estimated to produce 12,673 kWh each year and the home owner spends an average of $175 per month on electricity. $175 per month is 12,963 kWh per year.
12673 / 12963 = 97.7%.
With a payback period averaging less than 10 years, you can expect your solar system to have paid for itself more than 2 times over within its warrantied lifespan. Much less with the Efficiency Nova Scotia SolarHomes rebate!
Tree seedlings grown for ten years
Vehicle off the road for one year
Gallons of gas not consumed