The return on investment (ROI) is calculated by working out how much energy a solar power system size produces per year in kilowatt hours multiplied by the electricity rate in your area. Then factor in the initial price for the solar power system to get the ROI percentage. Generally, as you consume at least 50 of your solar power output in your home before it gets exported to the grid, our systems still offer returns on investment of around 7 to 10 (depending on your location) at current market rates.
International data shows that homes with reduced running costs appreciate faster and have a higher overall value on the real estate market. In fact, a recent study** in California estimates that purchasing solar can increase the resale value of your house by more than $5,000 per kilowatt added. That alone may cover your system’s entire cost! A Newnergy solar power system will reduce or eliminate your homes electricity bill, meaning your home will demand a higher value on the market.
** Source: "Exploring California PV Home Premiums", Lawrence Berkeley National Laboratory, December 2013. This research builds on work published in 2011 entitled “An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California,” Study analyzed 72,000 homes, 2,000 of which had solar. Ave system size: 3.1kW