Solar panels four years later

Solar panel array

Four years ago on April 25, 2014, we powered up our solar panels and began feeding electricity back to the provincial grid.

Every spring, I like to look at our numbers and compare how we’ve done with past years. Here are our previous annual summaries:

We don’t track how many kilowatts we generate, so all of my calculations are financial.

Over four years, we’ve made a total of $17,469.28.

Our initial investment in the panels was $40,727.16, so I guess you could say we still have awhile before we’re truly ahead (based on this year’s numbers, our total payback period will be just under 8 1/2 years).

However, we already feel like we’re ahead every year because we consistently generate more power than we consume.

Last year, we paid $2,594.40 for electricity, and we earned $4,855.15–$2,260.75 in “profit.”

The amount of power we produce is very much determined by the weather, so we see a lot of fluctuation month-by-month and year-by-year. Last year we made more than $300 more than the year before. Here is the comparison over the last four years.

Solar panel income over the last four years

Obviously solar panels are a big investment. Knowing that we’re going to be at the farm for a long time, it’s a choice that made financial sense for us.

And now that we have Ellie, I feel even more strongly about the environmental reasons that we chose to install our solar panels. I want to do my part of create a healthy world for her and set an example of taking personal responsibility for the planet.

For all of the details on our solar panels, you can see previous posts about Going Solar here.

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4 thoughts on “Solar panels four years later

  1. That’s great that you’re making money every year. So many things can be frugal if you have the money upfront and can predict that savings in the future. And that’s not even looking at the environmental impact! I wish more people could go solar so we could reduce the need for the more harmful methods of energy generation. The governments pay so much for big hydro projects and so on – what if they instead helped fund people to go solar and paid themselves back from the profits?

    • I feel like individuals and companies are taking the lead with alternate energies moreso than governments. Although the government has offered some subsidies (like the microfit program that we’re part of) that are good incentives.

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