Certain types of solar applications such as solar photovoltaic (PV) systems can be expensive, but in most cases the application is a worthwhile investment.  To help you understand the costs involved, below you will find the resources that explain the different types of applications and technologies that can help you discover the cost effectiveness of solar.

A simplified cost benefit analysis formula can be used to find the break-even point for a renewable energy investment. The formula will contain variables such as current energy use, energy costs for your area, the percentage your solar products will offset your current energy usage, and the initial cost of the system. If the investment for solar energy products is $40,000 and provides $200 worth of energy savings every month, the formula for finding your rate of return (in very simplified terms):

$40,000 / $200 = 200 months of savings ; 200 months is about 16 years.

16 years? You might be thinking: "But that's only 9 years left to realize a return on my investment!"
If a 35% minimum waranteed return on investment while reducing your carbon footprint is not enough for you, consider the 30% federal tax incentive to reduce your solar pv cost, as well as the state and local incentives, rebates, and buyback programs that equate to roughly 10% to 30% off your solar energy costs and tax liabilities over the lifetime of your solar products. With a 30% federal tax incentive on $40,000, that means you will receive $12,000 back in the first year from the U.S. government, changing the equation to reflect the new rate of return:

$40,000 - $12,000 = $28,000
$28,000 / $200 = 140 months, less than 12 years?
(25 years - 11.7 years) / 25 years = 53% ROI (return on investment) while "going green".

Cost Benefit Analysis for Solar Power Products and Installation

The costs of a PV system varies based on the size of the system, what state and or county the system will be installed along with various solar incentive programs such as rebates, tax credits and production-based incentives.

How much does a Solar PV system cost?

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