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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Asked Aug 24, 2019
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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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Expert Answer

Step 1

Given,

i Wh-3600J
1kW 1000 W
Energy produce by solarpanel 3x10 J/day
Solarpanel costs, C =$500
Cost of electricity, G
S0.15/kilowatt hour
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i Wh-3600J 1kW 1000 W Energy produce by solarpanel 3x10 J/day Solarpanel costs, C =$500 Cost of electricity, G S0.15/kilowatt hour

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Step 2

Electricity produced by solar panel per day

Electricity producedper day
1 Wh
1kW
J
E3x106
day
3600J 1000 Ww
5 kWh
E =
6 day
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Electricity producedper day 1 Wh 1kW J E3x106 day 3600J 1000 Ww 5 kWh E = 6 day

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Step 3

Money-saving by the sola...

Saving each day, S = E.G
5 kWhS0.15
6 day
kWh
S0.125/day
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Saving each day, S = E.G 5 kWhS0.15 6 day kWh S0.125/day

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