Cost Calculator For Residential Solar PV

Instructions:
1. Enter parameters in blue shaded cells [A38-A43] (parameters there now are for a 2 kW (DC) system)
2. Adjust price in green shaded cell [A47] until two figures in pink cells [A45-A46] are equal (or nearly so)
3. Price in green cell [A47] is the levelized real cost per kWh to consumer of solar PV power

YEAR KwH Cost Real Interest $11,951.86 Inverter Price

0 0 $11,950 0.05 $10,500.00 $0.3220 $1,600.00 0.02
1 2840.184 $892.50 $1,568.00
2 2811.782 $841.50 $1,536.64
3 2783.38 $793.33 $1,505.91
4 2754.978 $747.84 $1,475.79
5 2726.577 $704.89 $1,446.27
6 2698.175 $664.33 $1,417.35
7 2669.773 $626.04 $1,389.00
8 2641.371 $589.88 $921.33 $1,361.22 $1,361.22
9 2612.969 $555.75 $1,334.00
10 2584.567 $523.53 $1,307.32
11 2556.166 $493.13 $1,281.17
12 2527.764 $464.42 $1,255.55
13 2499.362 $437.34 $1,230.44
14 2470.96 $411.78 $1,205.83
15 2442.558 $387.66 $1,181.71
16 2414.156 $364.91 $530.53 $1,158.08 $1,158.08
17 2385.755 $343.45 $1,134.91
18 2357.353 $323.20 $1,112.22
19 2328.951 $304.10 $1,089.97
20 2300.549 $286.09 $1,068.17
21 2272.147 $269.10 $1,046.81
22 2243.745 $253.08 $1,025.87
23 2215.344 $237.98 $1,005.36
24 2186.942 $223.74 $985.25
25 2158.54 $210.32 $965.54

62484.05 = total lifetime kWh produced

0.324 =average AC hourly power production of PV installation when new (averaged over ALL hours of the year)
1% =annual decline in PV panel production (as percentage of production when new)
5% = real interest rate
$10,500 = cost to consumer of original PV installation after rebates and tax credits
$1,600 = cost of inverter replacement today
2% = real annual decline in inverter cost

$11,952 = net present total cost of PV installation

$11,950 = net present total cost of PV power
0.322 = leveling real cost per kWh of PV power to consumer
ALL hours of the year)