payback period
nounUK /ˈpeɪbæk ˌpɪəriəd/
US /ˈpeɪbæk ˌpɪriəd/
The payback period is the time it takes to get back the money you spent.
The payback period for the new solar panels is about five years.
OTHER MEANINGS
2. The length of time needed for an investment to earn back its original cost.
Investors compared the payback periods of the two projects before choosing one.
3. A period during which someone repays borrowed money.
The loan has a payback period of ten years.
4. The time it takes for a company to recover money spent on a purchase.
The payback period for the new machine was shorter than expected.