“How long till my solar system pays for itself?” – I often get asked. The implication of the question is that if the answer “feels too long”, the solar system will seem not a worthwhile investment.
Looking at costs vs benefits vs payback periods, I would argue that – absolutely! – a solar system is always a worthwhile investment. Because, “how long till it pays for itself” is only one view, and there are several others to consider.
There is the direct cost view: What is the price tag? Can I afford it? (Or if I take a loan from the bank can I afford the monthly repayments?)
There is the pure financial view: Will it make me money in the long run? How long before it does? And how much money would I have saved over the lifetime of the system?
There is the benefit-for-me view: The benefit of being buffered against load-shedding – great! I need it and/or I want the convenience of uninterrupted power, and am willing to pay (something) for it. A bit like buying a car: I need it, I want it, I’m willing to pay (quite a bit) for the multiple benefits of having it. I don’t expect it to pay for itself over time…
The benefit of electricity cost saving. Yes, that goes back to the financial view above, and if my system was correctly sized for my needs, it will give me a BIG cost saving over the life of the system (in particular as electricity price inflation continues to outstrip consumer price inflation).
Have we considered the benefit-to-society view? In South Africa in particular, every bit of electricity that you produce for yourself helps to reduce load-shedding not only for yourself, but for everyone else, too. And similarly, with Eskom’s electricity being some of the worst polluting in the world, every bit of solar electricity helps to reduce the burden of disease in those large parts of our country affected by our coal-fired power stations. In South Africa the vast majority of people will never be able to afford a solar system of their own.
Have we considered the benefit-for-the-planet view? Or put differently, the benefit for our children, and their children? Ensuring that they still have a planet to live on which feels like home, and not like a wasteland, is surely the best possible investment we can make! Even it if costs us. Climate science is long past the stage of if’s and maybe’s. We (collectively) know that we have to do everything we can to keep the remaining oil, gas and coal in the ground, and not burn it to power an unsustainable world economy. We (collectively) absolutely must shift to renewable energy in every way possible – with great urgency.
And so the question becomes not, “Can I afford a solar system?” but rather, “Can I afford not to have one??” Can we as humans afford not to transition to renewable energies at maximum speed?
Yes, the handful of solar panels on my roof are not going to save the planet. But collectively we can save the planet – via solar energy and a myriad of other ways. #everysolarpanelhelps. And the feel-good factor of knowing I’m doing my bit is priceless.
