We often talk about payback period in the solar PV industry when explaining how quickly a new installation “pays” for itself.

So for example, if a PV installation costs $100 total and saves you $25 a month in electricity bills, the payback period is 4 months.

But you never hear about the payback period of solar PV education.  After completing a standard course and joining the workforce, how long does it take before your income covers the cost of your training?

Well, the numbers vary considerably depending on:

  • Where you live (and work)
  • Where you study
  • Your experience and qualifications

But let’s break some of these numbers down to see if we can get a better sense of the situation.

In fact, we’ll even explore some worst-case scenarios so that we have a minimal threshold.  Using a fictional solar PV school in Fort Lauderdale, we’ll assume that you:

  • must travel for your training (as many students do)
  • take the bare minimum in training (i.e. a 40-hour class)
  • don’t qualify for any tuition discounts

And then I’ll explain how you can dramatically shorten the payback period of your training and reap optimal dividends from your solar PV education.

Cost # 1: Tuition & Course Materials ($2,000)

The average cost of most solar programs in the Fort Lauderdale area ranges from $1,500 to $2,000.  We’ll use the upper end.

Cost #2: Travel, Accommodations, and Food ($3,000)

If you live in the Miami/Ft. Lauderdale area, you don’t have to worry about this.  But we’re looking at worst-case scenarios here.  Let’s assume that you live in San Francisco and must travel to study here.

Well according to Kayak.com, you can get round-trip tickets from SFO to MIA for $300 to $500.  Let’s use the higher end.

And depending on your hotel tastes, you can expect to spend anywhere from $65 a night to $250 and up.  Let’s put our figure at the higher end.  So for a 7-day visit, you can expect to pay $1,750.

And because of your finely tuned palate, you don’t want to spend any less than $100 a day on food, so factor in another $700 for a 1-week trip.

This brings the total for flights, hotels, and food up to $2,950.  Let’s throw in a few taxis and make it an even $3,000.

Grand Total for Out of Town Education = $5,000.

Now let’s look at your earning potential….

Average Salaries for Solar PV Installers

According to PayScale.com, salaries range from $24,700 to $58,900, with the median being $34,500.  Let’s use the lowest figure ($24,700).

And let’s assume that government taxes (state and federal) remove 33% of your paycheck, leaving you with $1,358 in the bank each month.

So what is the payback period?

Paying for a $5,000 education with a net monthly income of $1,358 will take you roughly 3.7 months – which is pretty phenomenal when you compare payback periods for other professions in which students graduate deep in debt.

But remember, we used worst-case scenarios in the above exercise, making expensive assumptions along the way.

Admittedly, there are some things you can’t control.  If you live far from a reputable training school, then you’ll have to travel (although you can always go with the most affordable flights and hotels possible).

However, there are things that are well within your control – whether you travel or not.

Paying for Quality Can Boost Your Income (and Lower Your Costs)

As the only Department of Education-licensed solar PV college in the country, USSolar Institute routinely places its graduates in the highest paying jobs on the market.

In addition to providing you with the best installation tools and education possible, our goal is to ensure that you exceed the median salary and move up the pay-scale to earn $40k, $45k, and even $50k a year.  To better understand how we live up to that commitment, click here.

When you’re making that kind of money, the payback period shrinks to less than 2 months.  And if you don’t have to travel (or you travel on a tight budget), you can cover all costs in less than 1 month – even after taxes.

But as an added bonus, USSolar Institute is actually more affordable than many unlicensed solar PV schools ($1,495 for 40-hours of intensive training).  You save more than $500 off of tuition.  And if you’re a military veteran, you can even attend our courses for free (see here to learn more).

Whether we’re talking about a 2nd tier program that puts you in the lower income bracket or 1st-class real-world training that catapults you to the top, the payback period for solar PV training is unbelievably short.  And this career field offers unparalleled job security at a time when most occupations continue to face cutbacks and downsizing.

If you’re ready to take the next step and join the growing solar movement, contact us today.