I have a 31.45kw system here in VA. 70 panels on a ground mount about 500 ft from my house. I was paying 500-600 a month for electric by the time I did it that was only going up every year. I paid 80k for my system, got a 22k fed tax credit (it’s a credit not a deduction) that prevented me from having to pay 30k to the feds last year. I also get an 80k deduction on my real estate taxes for 5 yrs.
In 11 months I generated 42mw which paid me about 2.2k from SRECs that covers my yearly propane bill (main floor heat, cook top, tankless water heater, outdoor grill and 22kw generator). I haven’t had an electric bill at all since Jan 2022. Think we are expecting full return after all the tax breaks, SRECs, no bills around 9.5 years. Note it also increases the value of your home should you decide to sell prior to getting the return.
All and all, I’ve been very happy with the investment and luckily I paid for it with stocks that are now currently in the toilet so I actually timed it well.