Yeah technically the inverter and batteries should not be part of the payback equation. They are there for backup power. The panels however can pay themselves back because they Ave you from using eskom. Having enough battery storage allow the panels to pay themselves off quicker.
At least that is how I see it for myself.
I agree and disagree with you. The way I see it is that yes, we would still want a backup solution so the inverter and 1st battery are a R60k sunk cost. However, for purely backup, I could have got a system that's R30k cheaper.
I then opted to spend another R60k on more battery capacity and solar panels. This now allows me to recover the cost of the entire installation over time. So I count my payback period in terms of the full R120k outlay.
At current usage and prices, it looks like a 7 year payback model for me. But that figure comes down with all the electricity tariff increases. I guess my best guess of a time period is 4-5years. Which is great, since the batteries and panels will still have some sort of value at that point in time.
From here, I'll always just look at the marginal cost of more battery storage, panels and the marginal benefit (in terms of lower bills) to decide whether it's worth upgrading anything.
Or another way to look at it is that if you pull R120k from your bond now, do the electricity savings outweigh the increased repayment today? In my case it does, so financially speaking it's a good investment, and I have zero impact from loadshedding. Especially important when I work from home as well.