Just for "shits and giggles," and while waiting for my two sleepy princesses to get themselves out of bed, I ran the numbers on our solar PV system.
(Yes, this is what passes as fun for me. Sad, I know.)
This was installed in spring 2019, but, thanks to the reluctance of our local power company, was not actually up and running until over a year later.
(I had to take them to the Public Utilities Commission. Now there's a campaign to replace them with a public entity.)
It has now had two full years under its belt.
The system cost just under $3,500, cheap because I installed it myself with the help of two students who wanted the experience, as well as some expert help from our local solar power company. This is not counting the gas to Augusta to watch the PUC deliberations.
It was repaired this spring after a lightning strike for just under $400.
Total lifetime cost = $3900, give or take.
Total lifetime power production = 8.56 mWh.
At the time it was first commissioned, Central Maine Power's "Standard Offer" rate was around 17¢ per kWh. Now it's just under 20¢.
Call it an average of 18¢.
That makes the value of our PV system's lifetime power production to be $1540. That gives an annual rate of return of $1540 ÷ 2 years = $770, or 19%/year.
Which certainly beats the market.
No comments:
Post a Comment