In the long run yes, it is cheaper. Think about it in simple economic terms. You have your fixed cost (which would be installing the renewable energy unit) and you have your variable cost (which is nothing really for renewable energy since your utilizing the sun and wind mostly which are free) versus regular electricity, which has no fixed cost but has a monthly variable cost (energy bills). Over time, the fixed cost becomes less and less (marginally), but the variable cost remains the same because your making the same monthly payments.
It depends on how good your system is to determine your break-even / profit point, but yes in the long run all renewable energy units should theoretically pay for themselves.
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