1. What is a Solar Panel Savings Calculator?

Definition: This calculator estimates the annual financial savings from installing solar panels based on system size, sunlight hours, electricity rates, and maintenance costs.

Purpose: It helps homeowners and businesses evaluate the potential return on investment for solar panel installations.

2. How Does the Calculator Work?

The calculator uses the formula:

Where:

• \( \text{Size} \) — Solar panel system capacity (kW)
• \( \text{Sun Hours} \) — Average daily sunlight hours (hours/day)
• \( \text{Tariff} \) — Electricity rate ($/kWh)
• \( \text{Maintenance} \) — Annual maintenance costs ($)

Explanation: The formula calculates annual energy production, converts it to monetary savings, and subtracts maintenance costs.

3. Importance of Solar Savings Calculation

Details: Accurate savings estimation helps determine payback period, return on investment, and makes the case for solar adoption.

4. Using the Calculator

Tips: Enter system size in kW, average daily sun hours (default 4.5), electricity rate (default $0.12/kWh), and annual maintenance (default $150). All values must be ≥ 0.

5. Frequently Asked Questions (FAQ)

Q1: How do I find my average sun hours?
A: Use solar maps or local weather data. Most areas range from 3-6 peak sun hours daily.

Q2: What affects solar panel savings most?
A: Electricity rates and sunlight hours have the biggest impact on savings calculations.

Q3: Should I include incentives/rebates?
A: No, this calculates operational savings only. Add incentives separately to your ROI analysis.

Q4: What's included in maintenance costs?
A: Cleaning, inspections, inverter replacement, and minor repairs. Solar panels typically have low maintenance.

Q5: Does this account for system degradation?
A: No, most systems lose about 0.5% efficiency annually. Consider reducing output by 10% after 20 years.