Solar Panels
- Thread starter JamesEB
- Start date
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Look on the microgeneration website for an mcs registered company in your area.
Do these things ever pay off the cost of installation?
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That's not a good question. If, however you have a large amount of cash, and nothing to do with it, so it is sitting in the bank earning fractions of a percent interest, that doesn't keep pace with inflation, and if you expect to live for more than 20 years and to stay in the same house, and have plenty of other savings so you will never need the capital you have spent, then it may be worth a punt. You also need to know that your roof is not going to need significant work in the next 20 years that would bring the extra cost of removal and reinstallation (and perhaps damage).
I have some, the return on cost (lower bills and subsidy payments) is about 10%. However this is not like earning 10% interest or 10% dividends, because in either of those cases you would still have your original capital that you could draw on.
It means that after (about) ten years you are more or less back where you started from.
However, since I bought mine, the subsidy has dropped so you would receive less, and the price of energy has fallen so the savings on your bills will be lower.
It is not a good investment, but maybe, if you fit the profile, it is worth a punt.
If you have the cash lying around, make sure that before you think about solar, you have done all the other things, such as funding your pension, improving your home insulation, and doing any necessary repairs and improvements, and buying some NG shares in an ISA.
If you are hoping it will give you electricity during a power cut, no it won't. The system is synchronised to the grid and cannot be used if the supply fails.
I'm consistently doing better than 10% of the installation cost, so I expect it to be paid off in another 4 years. That will give me 17 years of income. In the meantime, I'd be happy to hear from anyone who can get half that on a sure thing investment!
Late 2012.
After 5 years the panel could drop output 25% and after 15 years 70%
Then theres a maintenance contract to protect your investment or run the risk of invertor or panel failure.
If you continue * as you are well done.
* i suspect you won't.
Have you factored in a service plan, extend warranty or maintenance set up? Or do you really believe in 99.999% qc with no loss of output and no invertor wobbles?
Why do you post about solar panels when you are utterly clueless about them
Op, JD has given you good advice take it.
I can't find the tariff for that, but I suppose you're receiving a subsidy of about 16p per kWh generated, is that right? And assume 50% exported at about 5p? The tariff went down and down as time went by (although people on an older tariff stayed on it). Some say that the early subsidies were excessively generous.
I found a document for New installations which is not laid out the way I expect, but it seems to say 4.25p, and 50% @ 4.91p exported
https://www.ofgem.gov.uk/system/files/docs/2016/07/tariff_tables_july_2016.pdf
If you had an average annual generation of 4370kWh, I estimate that would bring you about £700, plus an export tariff of maybe £110 but (if my figures are right) OP would only get about £185 plus an export tariff of £107
As he's in Surrey his generation figure might also be 10% less than yours
http://re.jrc.ec.europa.eu/pvgis/apps4/pvest.php#
Does that look right to you?
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Alternatively, after 30 years, the panels could be operating at 90% efficiency, or 89% or 75%! They are warrantied at 80% after 25 years; my inverter is warrantied for 10 years. I am wise to whether warranties are enforcable etc, but they ARE under a good warranty. All the research supports degradation at less than 1% per year; and testing of the longest serving UK systems supports that. I read that research before I bought. I'm a grown up and am happy with my choice.
From August 2012 it was 16pKWh provided you had an epc of d or above.
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There is no doubt about it as it was financed by a surcharge on other people's bills.
Paying 41p for something to be sold for ~16p makes no sense anywhere.
Yes, 16p/4.5p per click/deemed export. I claim about £620- 650 per year in all, on an investment of £5750. That cost included a 'spare' panel which I use to 'play' with on my shed!
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