The payback period for solar panels for an average household has increased to more than ten years. This is what energy comparison company Keuze.nl says based on its own research. That would be considerably longer than what installers lead customers to believe.
According to the site, a household with three people and an average electricity consumption is advised by an installer to install twelve solar panels, good for almost 4,200 kilowatt hours of solar power per year. He charges 5,750 euros for this and that would be recouped within 3 years and 11 months.
According to the independent comparator, the payback period is much longer, due to the extra costs for solar panels that energy suppliers have been charging since last summer. Costs such as return costs, higher rates and other price differences ensure that the payback period is more than 6.5 years longer. An additional factor is that electricity has become cheaper compared to last year, which means that the annual savings are smaller.
The Netherlands Authority for Consumers and Markets (ACM) does not receive many complaints about companies that outline unrealistic payback times to customers. Companies must provide correct information when making a claim, a spokesperson emphasizes.
The calculation of the payback period is based on all kinds of uncertain factors, such as the location and yield of the solar panels, the contract that someone has and energy consumption. Companies must make it clear to the customer how they calculated this and with what assumptions. “Companies have to be honest about this,” he concludes.
