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This power system simulation and calculator helps you estimate the potential revenue and savings from installing solar panels in different locations. The demand for electric power is regarding a 4 people Household, as taken from average demand profiles around the world. For more choices between different demand profiles, battery usage and different buildings, an upcoming new edition of this calculator will be soon available, so more informed and analytical decisions can be made regarding the investment in solar power. Here's how the solar panel Calculator works:
1. Select Location: Choose the geographical location closest to where you plan to install the solar panels. Different locations have varying levels of solar irradiation, affecting the energy generation. The irradiation data have been gathered by various official weather databases. Please note that chosing a location is mandatory for the calculator to work.
2. Enter Solar Panel Details: Input the area of the solar panels in square meters and the cost per square meter of the panels. These details help calculate the total cost of the solar panel installation. Solar panel efficiency assumed in this simulation is 15%.
3. Set Electricity Prices: Specify the price of buying electricity from the grid and the price of selling excess electricity generated by the solar panels. These prices determine your revenue and savings.
4. Simulate: Click the "Simulate" button to run the simulation. The calculator will generate a chart showing the comparison between generated power and electricity demand throughout the day. It will also display various financial metrics, including total revenue, monthly revenue, annual revenue, payback period etc.
Equations used in the calculator to find power generated and turnover:
Power Generated: SolarPower = Irradiation * SolarPanelArea * Efficiency
Total Turnover: TotalRevenue = ExcessPowerSold - (TotalPowerBought * BuyingPrice)
Efficiency of solar panels used:
| Solar Panel Efficiency (%) | Location |
|---|---|
| 15 | EU - South (Greece, Italy, Spain) |
| 14 | EU - Central & North (Germany, Netherlands, Belgium) |
"Is it profitable to install solar panels?":
Based on the calculated financial metrics, it can be determined whether installing solar panels is profitable. Factors such as location, solar panel efficiency, electricity prices, and installation costs influence the profitability. You can determine the viability of your investment in solar panels by using this calculator. Note that some deviation is possible from the actual values, but the prices for this application range up to +- 10%.
"Should I install solar panels?":
Whether you should install solar panels depends on various factors including your location, available sunlight, electricity prices, upfront costs, government incentives, and your long-term energy goals. It's recommended to conduct a thorough analysis considering these factors before making a decision.
How much money will I save from solar?
The amount of money saved from solar depends on factors such as solar panel efficiency, sunlight availability, electricity prices, and the size of your solar installation. The calculator provides insights into potential savings based on your inputs.
Use this calculator to make informed decisions about investing in solar power systems and understand the potential financial benefits based on your location and electricity prices.