We switched to solar in 2021 expecting a 3.5-year payback. Electricity prices rose so fast that we recovered the investment in under two years.
Also the national grid is notorious for it's frequent blackouts (load-shedding) since the early ’90s. Solar allowed us to have uninterrupted supply in the mornings and longer backups during night.
We got roof top solar 1.5 years ago in Canada. Payoff will be 6-7 years, but we got an interest free loan to cover it.
So we’ll just pay what we would have for power for those years ~$1000 a year, then we’ll have free power for 20 more, saving something like $20,000 for $0 investment.
Payback - I never factored that in or even thought about that.
I was more concerned about having reliable power and reducing my electricity bill.
The daily 2-hour power cuts were getting out of hand, and I was running my business from my home office, so the tax incentives helped slightly.
The grid is more stable now as new power units became available but a big chunk of middle-class consumers using solar are using way less power now, so the local town councils are having problems balancing their books (town councils re-sells electricity from the national operator).
Also the national grid is notorious for it's frequent blackouts (load-shedding) since the early ’90s. Solar allowed us to have uninterrupted supply in the mornings and longer backups during night.