On April 1st and May 1st, 2012, I read the electric meters on our street at OMV. (The meters were first hooked up to the grid in early March.) Here are the readings, and calculated costs based on current ICE residential rates.
I also have solar data for the month of April, collected from the panel we have installed on the community center roof. Total amount produced for the month from this 220 watt panel was 21.7 KWH. March was a bit better, at 28.7 KWH. (You can see live data for this panel here.)
The number of panels required is calculated by dividing the total monthly usage above 300 KWH (the point at which ICE net metering kicks in) divided by the measured output for the month.
The installed cost is based on $4/watt * 220 Watt/panel * number of panels.
The payback period is calculated by dividing Cost by Savings/Month * 12 months/year. Using the default values, it looks like a payback of about 10 years. Note, this is simple payback only. It does not include interest, inflation, ICE rate changes, etc. Nor does it include ROI – the fact that it will continue to produce electricity long after it has been paid off. Nor does it include consideration of anything other than economics — things like global climate change, added security & reliability, emergency backup during grid power outages, etc.
The images above are screenshots taken from a live calculator you can use to calculate your own costs. To use, change the values in the yellow highlighted cells and see the results…












