Awe Sum Alternative Energy Solutions
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power inverters
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compare gas and electricity prices
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pv systems
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generators home
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Return on Investment
If one considers a solar system an investment, comparable to a publicly traded stock, a Guaranteed Investment Certificate (GIC) or Canada Savings Bond (CSB) then the solar system stands up quite well.
The 'return' is the savings on your utility bill and these are tax free so they must be compared to after-tax returns from other investments.
If you have the opportunity to invest in a larger solar system, a $15,000 system can reduce your utility costs by $750 which is over 9% after-tax return.
Even a small system that costs $8,000 and saves $250 per year provides over 3% after-tax return.
Most people are staying away from the stock market right now due to the significant negative returns last year. As for GIC's and CSB's, they are paying about 2% and you have to pay taxes on the return making them half as good as solar at about 1.5%.
Natural Gas in Alberta has increased at an average of 10% per year for the past decade which is three times the inflation rate so whatever your solar return is now, it will only improve as utility cost increase.
Solar Financing with new home mortgage
If you have the opportunity to finance a solar system in a 25-year mortgage you can actually save more each month than your increased mortgage payment.
5S Analysis
Simple Solar has developed custom software to provide a comprehensive analysis on solar thermal heating for your home. It assesses your current energy patterns and determines the energy savings from the proposed solar system. It utilizes solar insolation data provided by Natural Resources Canada, independent certified international laboratory tests and industry based knowledge to provide you with a comprehensive assessment of your proposal. This is science, not black magic or wishful thinking. Your Simple Solar representative can provide this analysis for qualified customers. Here is a sample report .
Payback
Many of our clients ask us about payback and believe an alternative energy system should meet some payback criteria. Note that 'Payback' was developed by large corporations to assist decision-making between different investment alternatives. By definition there is not a defined acceptable criteria - it is just to compare different options.
When considering an investment in solar, be sure to compare it to your other investment choices. If you are honest, you will realize that many investment choices for the homeowner have no payback: new flooring, new appliances, new countertops etc. If you are considering other renewable energy products you will find that solar thermal is the most cost-effective alternative.
Have you figured out the payback on your current utility bill? Obviously there is no payback on this monthly expense. If you don't install a renewable energy system, you will still pay for your utilities, at an ever-increasing cost, 10 years, 20 years, 30 years from now. If you proceed with a solar thermal system, you will recover your investment and be ahead financially.
If you go through the exercise and determine the payback of your solar thermal system you then need to factor in the increasing cost of fuel. Natural Gas in Alberta has increased at an average of 10% per year for the past decade which is three times the inflation rate. Although it bounces around a bit, there is no reason to think that it won't continue to increase over the long term. Whatever inflation factor you choose, it will dramatically reduce your payback. Your Simple Solar representative can provide a financial analysis based on solar data from Natural Resources Canada and your specific application.
There is a lot more to consider than the 'Payback'. See our reasons to go solar document that lists some more considerations.
If one considers a solar system an investment, comparable to a publicly traded stock, a Guaranteed Investment Certificate (GIC) or Canada Savings Bond (CSB) then the solar system stands up quite well.
The 'return' is the savings on your utility bill and these are tax free so they must be compared to after-tax returns from other investments.
If you have the opportunity to invest in a larger solar system, a $15,000 system can reduce your utility costs by $750 which is over 9% after-tax return.
Even a small system that costs $8,000 and saves $250 per year provides over 3% after-tax return.
Most people are staying away from the stock market right now due to the significant negative returns last year. As for GIC's and CSB's, they are paying about 2% and you have to pay taxes on the return making them half as good as solar at about 1.5%.
Natural Gas in Alberta has increased at an average of 10% per year for the past decade which is three times the inflation rate so whatever your solar return is now, it will only improve as utility cost increase.
Solar Financing with new home mortgage
If you have the opportunity to finance a solar system in a 25-year mortgage you can actually save more each month than your increased mortgage payment.
5S Analysis
Simple Solar has developed custom software to provide a comprehensive analysis on solar thermal heating for your home. It assesses your current energy patterns and determines the energy savings from the proposed solar system. It utilizes solar insolation data provided by Natural Resources Canada, independent certified international laboratory tests and industry based knowledge to provide you with a comprehensive assessment of your proposal. This is science, not black magic or wishful thinking. Your Simple Solar representative can provide this analysis for qualified customers. Here is a sample report .
Payback
Many of our clients ask us about payback and believe an alternative energy system should meet some payback criteria. Note that 'Payback' was developed by large corporations to assist decision-making between different investment alternatives. By definition there is not a defined acceptable criteria - it is just to compare different options.
When considering an investment in solar, be sure to compare it to your other investment choices. If you are honest, you will realize that many investment choices for the homeowner have no payback: new flooring, new appliances, new countertops etc. If you are considering other renewable energy products you will find that solar thermal is the most cost-effective alternative.
Have you figured out the payback on your current utility bill? Obviously there is no payback on this monthly expense. If you don't install a renewable energy system, you will still pay for your utilities, at an ever-increasing cost, 10 years, 20 years, 30 years from now. If you proceed with a solar thermal system, you will recover your investment and be ahead financially.
If you go through the exercise and determine the payback of your solar thermal system you then need to factor in the increasing cost of fuel. Natural Gas in Alberta has increased at an average of 10% per year for the past decade which is three times the inflation rate. Although it bounces around a bit, there is no reason to think that it won't continue to increase over the long term. Whatever inflation factor you choose, it will dramatically reduce your payback. Your Simple Solar representative can provide a financial analysis based on solar data from Natural Resources Canada and your specific application.
There is a lot more to consider than the 'Payback'. See our reasons to go solar document that lists some more considerations.
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