Seven years ago, Matt and I decided to put solar panels on the barn. We felt like it would be a good investment (mostly Matt) and a way to do our part for the environment (mostly me). I feel like we’re fulfilling both of these goals.
Every spring (or summer when I forget), I run the numbers for our panels. Here is this year’s solar report.
If you need to get caught up, here are all of the previous updates and other details:
- The Ontario microFIT solar program and our application process
- Installing the solar panels and connecting to the grid
- Our solar panels by the numbers
- Year 1 update
- Year 2 update
- Year 3 update
- Year 4 update
- Year 5 update
- Year 6 update
This year the panels generated the second largest amount of power ever. We made $5,036.38. (We’re hooked into the grid, and the province pays us $0.396 per kWh). We haven’t been over $5,000 since 2016-17. I wonder if this is perhaps an ominous sign that there are more sunny days due to global warming. I am happy that we have the solar panels to counteract our carbon footprint just a little.
Every year, we come out ahead in terms of what we spent on electricity versus what we made. This year, the total was $2,485.63 spent. With $5,036.38 earned, we had a $2,550.75 profit.
I always like to see how close we are to finally earning as much as we spent to install the panels ($40,727.46). This year, we’re three-quarters of the way there. $32,164.07 or 79% over the last seven years. I had originally estimated it would take 8.5 years to pay off the panels, and we seem to be on track for that.
Living at the farm, we’re close to nature and I feel strongly our environmental impact. I am grateful for the money the solar panels generate, and I’m grateful that we were able to make this choice for the planet.