Calculations : How much did we save
Solar Savings Breakdown
(These were our specific calculations and they may be different for your case)
Initial Situation:
-
Electricity Bill: €550/month
-
Gas Bill (for hot water): €200/month
-
Total Monthly Expense: €750
Solar Installation Costs:
-
Solar Panels and Batteries: €20,000
-
300 liter Electric Water Heater: €450
-
Total Investment: €20,450
Post-Installation Bills:
-
Electricity Bill: €80/month
-
Gas Bill: €30/month
-
Total Monthly Expense: €110
Monthly Savings:
Old Monthly Expense (€750) - New Monthly Expense (€110) = €640 savings per month
Annual Savings:
Monthly Savings (€640) x 12 months = €7,680 savings per year
Break-Even Point (Return on Investment):
Total Investment (€20,450) ÷ Annual Savings (€7,680) = 2.66 years
In approximately 2.66 years (or 2 years and 8 months), we completely recovered the cost of your solar installation through savings.
Life of Panels:
Assuming the solar panels will last 25 years (a conservative estimate)...
Total Lifetime Savings:
Annual Savings (€7,680) x 25 years = €192,000 over 25 years
Net Profit Over Panel Lifetime:
Total Lifetime Savings (€192,000) - Total Investment (€20,450) = €171,550 profit over 25 years
Conclusion:
By switching to solar, not only have we significantly reduced our monthly utility bills, but we're also on track to save over €171,550 over the course of 25 years. This calculation underscores the financial benefits of solar energy, demonstrating it as both an eco-friendly and economically sound choice.