A bit of an eye catching headline “Solar Panels Never Make Economic Sense, Says Fuzzy Math” that first points out the well know detail “that insulation, weatherization and other energy efficiency measures should come before solar”.
Or to put it another way, “Adding photovoltaics to a non energy-efficient house is like exercising to burn off cake – much more efficient to stop eating cake…”. Not that sure about this quote. Eat cake and then exercise a bit more makes perfect sense to me! OK, I do get it, the environmental hit of an inefficient house just doesn’t stack up. Step 1 make the building / property as environmentally efficient as you can, BEFORE you then sort out how you provide the energy sources.
Back to the linked article, it did end that if you include some assumptions on future electricity prices, feed in tariffs etc. the article ends with the estimated “current payback of power-generating PV panels was 13 years”. As the PV panels should last 20+ years, that means they should be a good economic investment too.