Like my 2022 results post and my 2023 results I wanted to provide an update on how our solar did in 2024.
Overall we had a net contribution of $2720 and the results were a little worse than 2023 but slightly better than 2023. We had production of 12,000 kwh in 2024; of which we sold 7600 kwh back to the grid. This was about 1500 kwh less than 2023, I assume due to the Tesla being set to charge during the day so we don’t have to pay distribution and transmission charges.
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 2023 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 remains at 9 years with an additional 5 years to go. This is the most common financial metric I get asked. I thought this was optimistic, but we have remained at 9 years payback throughout which is great.