What is the expected lifespan of a solar power system?
When you buy a solar panel system, unfortunately nowadays we have had systems that have the inverters fail within two to three years, water ingress in the panel four years, you get what you pay for. Under the LG banner with our dealers, they will recommend some of only the best solar inverter quality solutions, and I can say some names. There is SMA there's Fronius, there's Enphase, there's SolarEdge. Those are the solutions that we believe work well. There's an optimizer solution called Tigo, they will work well.
In a lot of cases, you will have a panel that is warranted for 25 years, but the inverter solution you often would have to replace at least once during the life of the system. So what we say by year 10, 11, 12, you get your installer in, he checks the system over, it's like a hundred thousand K service on your car, you get it all checked out, and then you're running again nicely. So maybe some regular checkups every four or five years, a major changeover of the inverter halfway through the life of the system, and then off you go. So in summary, with the right inverter maintenance replacement, an LG solar panel system should give you at least 25 years solid financial return.