Final answer:
The Garcias may qualify for federal and state incentives such as the Investment Tax Credit (ITC), offering reimbursement for some of the solar panel installation costs. Payback time can be calculated considering the system's cost, local solar yield, and electricity rates. Solar panels have a favorable EROEI, ensuring the energy produced exceeds the energy needed for manufacture.
Step-by-step explanation:
When the Garcias installed a solar panel system for their home, they may be eligible for certain types of reimbursement which include federal and state incentives such as tax credits or rebates. Specifically, the federal government offers a tax credit for solar energy systems, known as the Investment Tax Credit (ITC), which can cover a significant percentage of the installation costs. Moreover, some states also provide additional incentives like rebates, or performance-based incentives which pay solar energy system owners for the electricity their system generates.
The size and cost of a solar power system, and the potential payback time can be calculated based on factors such as the cost per watt, the electricity cost, and the solar yield in a particular location. For instance, if the cost is $3 per watt, the yield is 6 hours per day of full-sun-equivalent, and the electricity costs $0.15 per kWh, the payback time can be computed to see when the system will start generating net savings.
Moreover, grid-tied PV systems allow excess energy to be exported to the grid, with the advantage of using electricity from the utility when production is less than consumption. A solar investment makes sense energetically as well, ensuring that over its lifetime, a solar panel system will produce many times the energy that was used to manufacture it, referred to as the energy return on energy invested (EROEI).