I'll run the numbers again and let you know. I think with a decent SREC rate, it should be around 5-7 years, worst case about 10 years.
My original question wasn't really so much about the payback as it was the technology. I wanted to know if anyone here knew of any breakthrough technology that would make the old panels obsolete and very much more expensive. If the world was on the cusp of a breakthrough that would drive solar array prices way down or solar efficiency so good that fewer panels could do the same job. If the cost comes too far down, the market will become flooded and SREC prices will drop. Then payback would become an issue. Payback from electricity savings +rebate and tax credit, but with no SRECs is about 20 years.
My honest answer is "no." I wish I had done it sooner (when rebates were higher).
I attended an energy symposium where I had to answer questions about residential solar. there were several others there who had solar arrays as well and, from what they have said, all of them are very pleased with their investments. I'll post more about this later, some issues to be aware of came up out of that day.