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PhysicsQ&A LibraryYou install solar power in your home, and the solar panel costs $500 and is capable of producing 3 Million joules of energy each day. If electrical costs are $0.15/kilowatt hour, a kilowatt is equal to 1000 watts, and there are 3600 joules in 1 watt hour, how long will it take for the solar panel to pay for itself in electrical savings?Question

You install solar power in your home, and the solar panel costs $500 and is capable of producing 3 Million joules of energy each day. If electrical costs are $0.15/kilowatt hour, a kilowatt is equal to 1000 watts, and there are 3600 joules in 1 watt hour, how long will it take for the solar panel to pay for itself in electrical savings?

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