What is the likely payback period on my solar system?
The payback on a solar system can vary from State to State, depends on the local price of electricity, the local amount of sunshine and also it depends on the size of the system and the electricity usage pattern at the location where the system is being installed. In general the more the electricity is used on site and not exported for a low feed in tariff - the lower the payback period.
Nowadays the payback for many solar system ranges from 5 to 8 years depending on the above variants. That's why it is important to get a reliable high quality systems installed as the solar system owner only starts to earn a real income from their system after they paid off the initial outplay.
Therefore if it takes you 6 years to pay off a system and their system fails after 4 years and the panel or inverter manufacturer have gone bankrupt, the solar home owner loses part of his investment. On the other hand if it takes you 7 years to pay off the system but the system lasts 25 years, the owner earns real cash for 18 years.
Therefore buying a cheap, quality compromised solar system, from a long term investment point of view, makes little sense. We suggest you look at the LG solar savings calculator for a rough estimate of the payback period applicable in your post code.