At the end of year seven the meter reading was 99532, meaning we have produced about 468 KWh more than we consumed over the past 7 years. Year 7 was our lowest producing year so far, about 8.04 MWh. Our panel’s fiscal year begins/ends on March 26.
| Year | Total MWh This Year | Cumulative |
| 1 | 9.67 | 9.67 |
| 2 | 9.1 | 18.77 |
| 3 | 9.33 | 28.1 |
| 4 | 9.1 | 37.2 |
| 5 | 9.02 | 46.22 |
| 6 | 8.22 | 54.44 |
| 7 | 8.04 | 62.48 |
The first five years we produced more electricity than we consumed. Years 6 and 7 we consumed more than we produced. Its possible that by next year’s reading the meter will be in positive territory. Still, we have not had to pay utility rates for almost 62.5 MegaWatt Hours of electricity since we went live.
This brings us to the question, have we ‘broken even’ yet? Meaning, have we saved enough on our electric bill to pay for the system? The short answer is not quite.
When we went live electricity rates were much lower. This was the supply price at the time:

Delivery was about 4 cents/KWh so the total was 10.7 – 11 cents per KWh. Today that total number is 20-22 cents per KWh, depending on the time of year. Both supply and delivery prices have increased, doubling the cost of electricity we have to pay for out of pocket.
Our total system cost, after federal, state, and local tax credits was $16,500. At current rates, 62.5 MWh (62,500 KWh) would cost about $12,500. We have also received about $3200 for our Solar Renewable Certificates (SRECs), and about $500 for annual surplus reconciliation. Total avoided cost plus compensation equals about $16,200. At this rate we would break even a few months into year eight.
Accounting for the lower electric rates in the earlier years, we have saved about $9,300 through year seven. Add in the $3700 for the SRECs and the surplus payments brings our total savings to about $13,000. Assuming we continue getting 8 SRECs per year at $50/SREC, we will save about $2000 per year in the years ahead, bringing our break even point to about 8.75 years. (Even as rates continue to rise, the value of SRECs are dropping, so it is hard to determine this date with precision).

Delivery cost this past January (I only get charged delivery if I have a negative month) was a little over 6 cents per KWh:

Five cents went to BGE and 1.3 cents went to EmPower MD, a program to make some homes more energy efficient.
The longer term outlook is very good. We will generate close to 200 MWh in the first 25 years of the system. Before SRECs and the annual spring surplus payout that comes to 8.25 cents per KWh. Including the SRECS at $50 each (which going forward is iffy) and counting the net spring surplus check at $60 year, or $1500 total, produces the following calculation:
$16,500 – starting price
less $10,000 (200 SRECs at $50 each)
$6500
less $1500 ($60/year surplus refund)
= $5000 system cost, which is 2.5 cents per kilowatt for pre-buying our electricity. That is less than half of what BGE charges to deliver it (currently over 6 cents per KWh).
The SREC number will probably be a bit lower and the spring surplus may be a bit higher but even if the final number ends up around 4 cents per KWh, this was a great deal!
By the way, the panels continue producing in year 26, they are just no longer under warranty.
To be fair, our inverter is warrantied for less time (I think 12 years) and the panel warranty does not include labor, so there will be additional costs. I just got a new WIFI router for my house and I am having a devil of a time connecting it to my inverter, so another expense is in my near future. All in all though, it does seem to be a good deal.





















