Our Electric Bill
We pay a monthly connection charge of $14.70. We don’t have batteries and don’t live off-grid. Instead, we use our local utility (PSEG) as a giant battery! So, in the bright summer months we give the excess electricity we generate to the local utility and in winter months, we take it back from the utility, “drawing down” our account. Our “net” annual consumption of electricity from our utility is usually Zero or very close to Zero.
Calculating your solar payback period
Unless you decide to lease your solar panels (which is a great way to get started if you don’t have or want to pay all the installation cost upfront), it can be helpful to determine your investment’s payback period.
Here is a good article that shows you just how to do that with some simple Math.