When will it pay off?
A reasonable estimation of payback period requires taking several basic considerations into account.
- Installation of solar systems is a long-term investment project. The payback period is just one of the choice factors – and not the most important one. Qualitative and reliable systems cost more in the beginning, but will bring more benefits and less trouble on the long run.
- Final installation costs are formed by equipment and installation work prices. Equipment is not limited to panels only, but also includes other elements like batteries for PV panels or heat storage tanks for solar collectors.
- Lifetime of solar systems installed by ALTENERGO lasts at least for 30 years, so there is a manifold difference between solar systems and other energy supply systems. For example, an electric boiler in a private house operates for 6 years, in a hotel – no longer than 3 years, in a production facility – no longer that 1 year. A gas boiler would last for around 10 years on average.
- Exploitation costs. By choosing solar systems ALTENERGO, you are protected from regular expenditures and trouble in the future. The solar systems are simple, reliable and safe, their details are almost invulnerable to damage and require almost no service. In turn, gas boilers require constant attention – one must inspect burners and regularly call the gas service. Besides, total security cannot be guaranteed. In electrical boilers, in turn, heating elements are simply disposed after their lifetime is over.
- A depreciable value of solar system equipment remains high. Even if you decide to dispose your solar system after several decades, you will regain an essential amount of money, because there is a lot of valuable materials which are not damaged even after 30 years.
In any case, it should be kept in mind that there is more sense to equip your house with solar thermal collectors than with PV panels. Thermal systems have proved their efficiency in the Baltics and are widely used. A rough estimation of payback period is 3 years, but, as we have mentioned, it depends on many factors. The payout time is longer for PV panels, but this technology is also viable.