Did renewables make power Cheaper, page-70

How many years to pay off the solar ?

As it happens I am in the process of getting quotes for solar panels.
The initial cost of the system has a bearing on pay back time.
So you can get cheap equipment, medium quality and premium quality.
Meaning that the initial outlay can vary by thousands.

Secondly you might need to spend money on upgrades in the meter box and upgrades to the line in.
Not everyone will need to do that. Some might decide to outlay money to go all electric and replace gas components.
When my gas hot water service dies I might consider a heat pump.

Thirdly with low feed in tariff rates that retailers offer these days the idea is to use as much of your own electricity in the daytime rather than selling it.
So people might change their pattern of usage. Do the washing in the daytime. Run pool pumps during the day and so on.
Others might turn on the heating and aircon in the daytime when previously they left it off.
To reflect that usage I would install 3 sets of panels one to pick up morning sun facing East, another for afternoon sun facing West and the third facing North.
With feed in tariffs being so low a system over 6.6kW would be a waste of money.

Anyway i have quotes for installation of a 6.6kW system using varying components.
Outlay could be $5k, $6k, $7k or if I want premium components with local warranty support from the manufacturer $9k
The dearer ones have better degradation graphs for the panels and longer lasting inverters with associated long warranty guarantees.

To your question I have an estimated saving on electricity bills of $1200 to $1300 using an electricity inflation rate of 3% and falling feed in tariffs.
So you can do the math on payback time.
Will I go for value for money or peace of mind?