Is a 5.4% internal rate of return good for a 25 year solar system with 10 year break even payback?

aluminumwelderaluminumwelder Registered Users Posts: 10 ✭✭
Please click on link below to see my calculations. (Scroll past the red box or click on X to close it ) I will DIY install the system for around $1/watt or $0.74 after federal tax rebate. Is this a good investment?  It's with a electric coop that has $27/month fees and paltry 4.79cents for excess generation. York, SC location. Info below link is the Utilities net metering rules. 

http://pvcalc.org/PVcalc?scale=1&t_useful=25&nominal_power=6&annual_yield=1390&r_degradation=0.5&t_guarantee=25&p_guarantee=0.0479&p_guar_own=0&cons_own=0&p_income_now=0.086&r_inflation_energy=2&p_setup=740&p_lease=0&r_insure=0.5&r_maintenance=0.5&t_finance=0&r_finance=4.15&own_funds=100&disagio=3&reserve_yield=3.5&r_inflation=2&loan_type=redeemable&redeem_type=uniform&tax_rate=0&lang=en&ccy=USD&index_linked=0&


Service availability charge @ $.89 per day  (works out to $27/month)
First 200 kWh per month @ 7.78¢ per kWh
Next 800 kWh per month @ 7.60¢ per kWh
Over 1,000 kWh per month @ 8.68¢ per kWh
As of the Effective Date of this Rate, the Cooperative’s Value of Renewable Generation is:
Value of Renewable Generation @ 4.79¢ per kWh

[PDF] Residential Net Metering – Rate Schedule 75 – Rate 5 — York Electric Cooperative, Inc.

This rate is available on a first come, first serve basis, except that the total capacity of all retail member generating systems under rate schedules 72, 73, 75, 76 and 77 shall not exceed 1% of the Cooperative’s hourly integrated peak load, as measured at its distribution substations, for the prior calendar year. If the member’s proposed installation results in exceeding this limit, the member will be notified that service under this rider is not allowed

The Nameplate Rating of the member’s installed generation system and equipment must not exceed the lesser of the Member’s actual or estimated maximum annual non-coincidental demand (kW) for the last twelve (12) months or 20 kW

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