Solar saves money AND the environment

We make saving with solar easy.

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A Step-By-Step Roadmap To calculating your payback period

This page shows how to calculate savings for a solar system in Nova Scotia

Calculating ROI

how long does it take for a system to pay for itself?

degradation and power value

The amount of power that your system produces will decrease over time, generally at a rate of 0.5% annually (the panels are warrantied against degrading faster than this). The value of the power that your system produces will increase over time. Historically the electricity rates have increased by 2.9% annually in Nova Scotia and we predict they will continue at this rate.

the calculation

To get the exact payback period you would need to multiply the kWh production for each year in the system’s lifespan (25 – 35 years) factoring in the 0.5% degradation rate by the corresponding year’s utility rate factoring in a linear increase in the value of power (we use 2.9%). Once you have a value for each year for the next 25 years take the sum and divide it by the number of years. This will give you the average value of power produced for the system’s lifespan. Divide the net cost of the system by that figure to get your payback period in years.

payback period

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

what will my energy offset be?

how much power will I have left to buy from my utility company?

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%.

the value of power won't stay the same

If power rates continue to escalate by 2.9% annually this system could produce

$ 0
in 2027
$ 0
in 2032
$ 0
in 2037
$ 0
in 2042

peace of mind

The system is warrantied for 25 years.

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!

going solar saves more than money

This (10 kW) system does the following each year.


Tree seedlings grown for ten years


Vehicle off the road for one year


Gallons of gas not consumed

peace of mind

Tangible savings you can count on.

The lengthy warranty guarantees your return on investment. Once the warranty is over, that doesn’t mean your system will suddenly stop working. You can expect a good 35+ years of good production.

Want To See What Real Systems In Nova Scotia Are Producing?

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