What is your ROI?

[dspence73]

Just a curious thread on your ROI (Return on Investment) from installing your DIY solar setup?

My setup is:

EG4 18Kpv x 2 @ $10794.94
24 x 530 Adani Panels @ $3120.00
Solar Rack: $1000~
Solar Wire (500Ft): $499.10
Aluminum 2-2-2-4 (125ft): $209.99
Aluminum 2/0-2/0-2/0 (125ft): $373.75
200amp Double Throw Switch $989.23
125amp Grid Combiner Panel: $55.52
100amp Breaker: $80.61
50amp Breakers x 2: $33.96
Generator Combiner Panel: $55.52
60amp breakers x 2: $37.74
200amp Grid Out Combiner Panel: $187.85
60amp breakers x 2: $37.74
3/0-3/0-3/0 copper meter to double throw and back to main panel wire: $396.98
AOLithium Batteries x 4: $4194.00
EG4 6 Slot Rack: $549.00
2/0-2/0-2/0 Copper Welding Cable: $103.88
EG4 600amp Busbars x 2: 79.98
Misc Lugs, Crimper, Shrink tube, Ferrules: $175.00
Cat5 300ft: $75.00
IMO Switches x 2: $198.22
DC Breakers and 4 slot box: $98.22
Misc Conduit: $395.55
Warning Stickers: $25.66
Permits and Inspections: $175.00


Net-metering agreement and NCUC (Utilities Commission) permits: $250.00

Total Investment: $24,192.44~

Here is my energy usage 2022-2023 (3 women in the house):



Toying with install and low power panels mounted on wood:



After everything is installed and net-metering agreement finally completed (as of 4/8/2025):



Average energy bill: $300.00 monthly.

Last month's bill dropped to $166.00 but I was not back feeding, we will see next month what happens.

So, $24,192.44 / $300 = 80.5 months (at net zero.) but realistically I would assume about 100 months for rain, clouds, etc.

Duke Energy will credit me 0.03 per KWH on my bill only. There will always be a minimum of $14.00 for connection fee even if I produce more power than I use (according to Duke rep). I am hoping to generate enough credit to float through the winter and still have a negative bill. They also said if I produce more than I use and the credits pay for the bill then the remainder just rolls to the next months bill.

I am adding 10 x 530w panels to the roof of my detached garage and it faces due east but at least I'll get a few more KW during the morning and mid-day.

 

[Kornbread]

Don't have to maintain liability insurance for the poco?

 

[OffGridInTheCity]

My ROI was 20yrs for a long time (kept purchasing more stuff) based on 11c/kwh. 11c/kwh was steady for the last decade but due to questionable (Oregon) state policies it's now up to 17c/kwh in the just the last 2 years and more increases are the way for 2025.

Adjusted for last month's data - I'm current saving $2,600/year which puts my ROI at 13.4yrs.

 

[Johneb]

Once up and running possibly 10- 12 years at present rates. We all know that rates increase, they don’t decrease. Personally my ROI is the moment I flip the switch and am no longer dependent on Idaho Power.

 

[teal95]

ROI? Still having power when my neighbors are dark.

I'm probably $50k into my systems so far. I've went from $500 bills year round to no bill for 8 months of the year. It's really hard to make any impression on the other 4 months, winter sucks for both production and consumption.

 

[Aloysius]

I did a owner builder grid tied 6K system all craigs list second hand equipment for under $6K already paid off under 2.5 years

 

[NC_hydro]

ROI is....I have power for two homes. Without the system I have no power. (No grid on property)

 

[dreancestere]

The average for the 2-1/2 years we've had solar:

• Income from selling back: basically break-even to slightly negative (pennies a day). If we didn't have winter, things would be different.
• Savings from PV generation: we save about 26kWh/day. Currently charged about $0.15/kWh. So, 26 * 0.15 = $3.90/day saved.
• Cost of solar system (not including generator): $33,625
• ROI: 33,625/3.90 = 8,621 days or 23.6 years. IOW, we'll never make the money back.
• EDIT: I forgot the tax credit and the cost of my batteries. But, those turn into a wash ($12k for batteries and about the same for the tax credit). So, no change to ROI.

But, as @teal95 said, it's not about the ROI. It's about having power when the zombies are roaming the countryside.

 

[Tulex]

My ROI is a very happy wife because we now have whole house backup.
Bonus is that once I get my last set of panels up, I will be grid use free for 9 or so months a year.

 

[drps10]

I wanted a backup system of some sort. Generator was 16k, my battery/inverter was 10k cash. I added 5.5kw solar from the tax return. I have calculated for every $1000 I spend going forward, it is 1 year break even with pv generation and net metering. I don't include my battery/inverter as initial investment, because I was going to install a backup of some sort. Added cost is wanting more PV, so if I want to add more (planning a 11kw addition) It will take me about 9-10 yrs.

 

[Mattb4]

None. Unless something bad happens that grid price rises upward of 75 cents per kWh (presently 12 cents). Though is is nice to be able to be fully Off grid after investing ~$25K over the last decade. But many things have no ROI. I paid out almost $10K in the same time span for a few ATV quads. Strictly for fun they are and not necessary.

 

[David in nh]

ROI is more like LOL for me
but let me check
lets what have in vs power produced by panels , ya i leaving out losses like inverter power usage (6000xp)

so watts made divided by cost as of right now is $6.22 a kwh but that cost drops slowly each new kwh i make brings my cost down .004

so this months cost from power company was about .39 a kwh it the deliver charges that get when you do not use much .

i am currently heating the the house with minisplit

 

[SunSurge]

Our home and shop are all electric. We have approx. 16K in the components (Inverter, MID, Batteries, Panels etc.) not counting wiring and mounting materials. Not as concerned about ROI as the system will also serve as backup when we encounter both winter and summer storms. We first looked at Generators for a backup but those cost about the same or more than solar, and have several negatives such as high fuel cost, maintenance. Utility rates around here are not as high as some places but like everywhere else will only increase.

 

[fatjay]

Growatt 18k - 24kpv - $3000
45x240w panels - $1200
6x15kwh batteries 90kwh total - $7000
A bit of metal to mount it on - $2500
Lots of wire - $1300

I have everything but not hooked it all up yet, I should be off grid from mid feb through october, and partly pulling from the grid.

My ROI is 27 months. I'd add around 5 months to be safe.

 

[dspence73]

Don't have to maintain liability insurance for the poco?

Good question, Yes, I do. A minimum of $100,000 of home owners insurance.

 

[ITSolutions]

So far I have approx. $9-10K into everything and utility averages .19c/KWH. I am not net metering, really try to leave the POCO out of my business.
Simple math would show a 60 month ROI, but with 3-4 months of winter a year that would be closer to 75 months. This does not take into account the tax rebates we get of approx. 30%. That moves it closer to ~48 months

I have found over the 2 years of using the system as I pieced it together it is not that simple. A few extra factors to consider Are things like:

• I have lost power 3 times in those 2 years and we were not aware of it for several hours and only then when we went to use something that was not yet on solar.
  • Even my work is happy as I could continue working (less threat of having to go into the office)
• During Spring/Fall I use less NG as I supplement with electric heat. This is hard to track true cost savings there
• Summer the family is more comfortable as I am more willing to run AC since it is essentially free now.
• No worry on when I use power as I don't worry about peak pricing
• I have a whole house/auto transfer generator that was with the house when purchased, but it is non-invertor so no running electronics on it. Now I can use it to charge the batteries instead and have clean power, even in winter power outages.

I almost forgot the happy wife and kids when they don't have to worry about no power basically ever.

Oh and during one of the outages my neighbor ran an extension cord between our garages so they could run their garage fridge to avoid firing up their genny. So Happy neighbors that owe you.

Hard to price out all the extra perks when factoring ROI

 

[wpns]

Hard to price out all the extra perks when factoring ROI

Exactly. Plus I’m using more power than I would have, as up to a point it’s free, so do I count the extra power or just what I would have used without the solar?

 

[OhYou_]

my ROI is 0 days.
it would cost $35k to pull in power lines, I've spend like $6-7k just going solar.

 

[dspence73]

Exactly. Plus I’m using more power than I would have, as up to a point it’s free, so do I count the extra power or just what I would have used without the solar?

Good question and point! I guess if the extra was somehow contributing directly to the cost of it, perhaps, otherwise I don't know how one would calculate that.

 

[Offthewall]

My after tax credit incentive cost puts my ROI at 80 months.

 

[fnnwizard]

Here is my energy usage 2022-2023 (3 women in the house):

Hahaha, have you look closely at what the energy requirements are during non PV producing hrs?
Just looking at your charts, it seems 20kWh of ESS may not be enough especially with 3 ladies in the home .

ROI may not be realized as calc, but may improve significantly with additional ESS and not panels if your sellback is so little. vs ~ $0.11 / kWh costs.

 

[J.H.]

I admit I don't usually consider the ROI on much in life if I just like or want somthing…
( less than an ideal trait) …

…but it is mentioned so often by so many in this forum ,I decided to do a rough estimate on my system and the total expense I incurred building it…

I did NOT include any $ amount for the hundreds of hours of study, labor or testing and confirming information one gathers at first getting to know how to tweak things…I didn’t include future maintence…

As it turns out , if present electric rates never increase,
I should break even somewhere near the age of 105 -110 yrs old…

Aw what the hell,…I just like having this thing…………

J.

 

[Mattb4]

...

I did NOT include any $ amount for the hundreds of hours of study, labor or testing and confirming information one gathers at first getting to know how to tweak things…I didn’t include future maintence…

...

Also not to forget tools. There was that hydraulic crimpper with assorted dies. The hydraulic hole punch for making knockout holes in electrical panels. Cable cutters, bolt cutters and torque wrenches and the million and one screwdrivers. The dozens of drill bits, hole drills, and a few hand drills not counting the floor standing drill press (that was a bit pricey), grinders, shears, saws, various hand tools, heat guns, test equipment (and more test equipment) and a lot of things I forget I bought when the need arrived.

Bit different for those folks that have a grid tie setup installed with a POCO sell back agreement where they also could write 30% off the cost on their taxes (many of us do not get that benefit). Some of them that had a company put it in for them may not even have a DMM and simply rely on whatever reporting doodad the grid tie and electric company provides.

 

[shazam]

If my wife and I did ROI on ANY of our hobbies, we'd need to drink more!

Jim

 

[empowered]

hard to say as my system has only been online for about 6 months (solar, battery only came online in the last month) but:
inverter: SEI 12kw ~2500 shipped from china
26 440w panels ~2600 shipped from china
mounting hardware/pv wiring ~1000 shipped from china
renting ditch machine 300
conduit and 500ft of 12ga wire ~400
BMS's ~800
batteries - free from work
and i spent like 1500 building the shed for my batteries.
so i'm in around 9k for components, i did the install myself.
my average power bill was 300/mo. we'll see how much solar i can generate on average over a year, but i THINK it should pay for itself in under 5 years.