Like my 2022 results post I wanted to provide an update on how our solar did in 2023.
Overall we had a net contribution of $3107 and the results were a little better than 2022. We had higher production of 12,900 kwh in 2023; of which we sold 9100 kwh back to the grid. We used a little less in the house than last year, but bought a Tesla late in the year so that will change in 2024.
For all our financial calculations we use the real solar club rate for what we produce in the summer, but only price our internally used power at the “grid” rate which we use 8.3 cents per kwh. Like in 2022 we use 6 cents for our variable Distribution and Transmission cost, so internally consumed kwh are always 14.3 cents. This is important as our results are not inflated using a higher export solar club rate, although that is our opportunity cost.
Our payback period is about an additional 6 years, which is the most common financial metric I get asked. This is probably optimistic but would be great if true.