Understanding Your Payback Period

Solar is an investment. Just like the stocks and bonds of your portfolio, solar generates a return on your original investment.

The return you receive will largely depend on the incentives available in your state. One Block Off the Grid recently published a report on states with some of the lowest payback periods of going solar.

“The shortest solar payback periods were seen in Massachusetts (4.0 years) and Hawaii (5.4 years). The report also found average payback periods of ten years or less in New Jersey (6.5 years), Louisiana (6.6 years), Maryland (6.9 years), New York (8.2 years), Ohio (8.7 years), California (9.0 years), Delaware (9.4 years), Arizona (10.4 years) and District of Columbia (10.6 years).” (http://www.prweb.com/releases/2012/3/prweb9282391.htm)

Shopping around for the best deal on can help you save on your installation, which increases your overall return on investment. We recommend reading our guide to saving on solar before talking with a solar contractor.