Solar Payback Calculator V2.0
I've created this calculator as an easier to use and better looking version of my original solar calculator. Let me know if you think it is better, or even if you still prefer the original! Also if you think I should add any features, or if anything does not make sense, please drop me a line here.
You can use this calculator to get a "No BS" calculation of the cash flows and financial payback that you can expect if you invest in a solar system. Simply input your state, system size, and the price you have been quoted on the left, and the chart will show you whether you will be be better or worse off with solar.
Unlike any other calculator I am aware of this tool includes all the things that you need to consider to get an accurate ROI calculation like the Opportunity Cost of not being able to invest your cash elsewhere, system degradation and inverter replacement after 20 years. Click on the "Advanced Options" to see all these settings.
If you are considering adding the system to your mortgage or getting a loan to cover the solar system cost, then simply click the relevant tab to see if either of those financing option make sense.
I hope you find it useful!
My lawyer said I need a disclaimer - so here it is!
These calculators are intended to provide illustrative examples based on stated assumptions and your inputs.
Be aware that the default settings will most likely not be applicable to your situation, and you should ensure that you change all the inputs (including the "Advanced Settings") to reflect your own circumstances. You should also check that the Feed In Tariff settings are correct for your State, as they change regularly.
Changing any of the inputs can have a large impact on the outputs. It is particularly difficult to estimate the % of energy you will export, so you should try the calculator with a range of scenarios, e.g. 10% export, 50% export, 90% export etc, to ensure you understand the consequences of exporting more or less as your usage patterns change.
Also no one knows what the Feed In Tariff rates will be after the current state legislated tariffs end. So you can only guess. This is in the Advanced options. You should always model the effect of a 0c FiT after the current one ends, as that is a possibility (especially with the current crop of politicians)!
Calculations are meant as estimates only and are not intended to be kept or used for any practical purpose. They are based on information from sources believed to be reliable and accurate and are not intended to be used as a substitute for professional advice.
The calculators are not intended to be relied on for the purposes of making a decision in relation to a solar product or finance deal.
Consumers should consider obtaining advice from an Australian Financial Services licensee before making any financial decision regarding mortgages, loans or solar financing.
Actual outcomes will depend on a range of factors outside the control of SolarQuotes.