So now I have a solar PV system how do I make the most of it???

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  • Cardew
    Cardew Posts: 29,036 Forumite
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    teachergirl wrote: »
    Brilliant Jon. thank you SO much . I did not realise that the OWl would also give a reading when it was outputting. At this current moment in time I have just found my sons PE kit hidden in his room. Full of stinking wet kit(at least 3 days old) so the washing machine had to go on regardless but I can wait for the dishwasher. I do have a spare monitor. My inverter is in the garage. Any tips as to how you find the correct wire????. If it is very complicated I might just stick to keeping the OWl at zero.

    I think in winter that you are not going to materially affect how much you use in the house.

    Bear in mind that in the whole of January you might only generate electricty worth £4 or so(used in the house - obviously not the FIT)

    Even with the most careful monitoring you are unlikely to increase your savings by a few pence in the whole month.

    Also just one example of putting on a dryer, dishwasher, washing machine without a full load(to take advantage of 'peak' generation) will wipe out any savings.

    Mid-summer, will give more scope to maximise savings as the peak period around noon on a sunny day will generate enough electricity to cope with a washing machine consumption.
  • Cardew
    Cardew Posts: 29,036 Forumite
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    smartn wrote: »
    Sorry, but imo you are very wrong. I have investments in shares, cash etc etc and still consider solar PV to be among the best investments available. Firstly, in my case I have calculated the payback to be less than 10 years (probably 8-9 years) even taking account interest that could have been earned in a cash isa..

    With respect you haven't 'calculated' the pay back period, you have estimated. That estimation is based on several factors which are not known.

    If I 'invest' say, £15k in a bank account or even shares I have access to that money. Not so if I 'invest £15k in Solar PV - I have panels on my roof.

    Buying a solar system is best treated as an annuity; albeit you are not sure of the return.
  • Jon_Tiffany
    Jon_Tiffany Posts: 393 Forumite
    edited 16 January 2011 at 5:24PM
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    Cardew wrote: »

    If I 'invest' say, £15k in a bank account or even shares I have access to that money. Not so if I 'invest £15k in Solar PV - I have panels on my roof.

    Buying a solar system is best treated as an annuity; albeit you are not sure of the return.

    Very important point and something to keep in mind if you are using all of your savings to invest in solar pv. Its sometimes handy to be able to access savings in case of a rainy day, once the money has been used to buy panels its gone and you have to wait somewhere around 10 years before you get back to where you started.

    Without a doubt it should certainly be viewed as an annuity.
  • jackieblack
    jackieblack Posts: 10,316 Forumite
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    teachergirl wrote: »
    O.K. Sorry folks but going back to the purpose of this thread which is to discuss how to make the best use of the panels if you have already got them!
    I am still new to this. I have been putting my large applianaces on during the day whilst I am at work. They have to go on and even though so far we are making very little I might as well try and get them on when I might be making some electricity. Today is my day off and I am trying to be more accurate. I have an owl monitor which as I understand it is measuring what I am taking in off the grid. So if it went down to zero I would then be then importing nothing and may be exporting?? Have I got this right? So on a dull day like today I would need to watch for it going near to zero and this would be a good time to start my appliances????(it is showing Kw per hour BTW)
    I do have another energy meter...could I do anything with this???? If anyone knows the answer to these questions please could you try and make them simple enough for me to understand. Some of the solar panal threads have got so technical I am having a bit of difficulty keeping up. :o
    Thank you in advance:)

    Thanks for this new thread teachergirl, like you I am finding some of the others too technical for me.

    My panels are barely generating enough to run a lightbulb at the moment........ I'm sure that we're using everything we're generating and more just with the fridge/freezer etc plugged in and no-one at home!
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shading
    Everything will be alright in the end so, if it’s not yet alright, it means it’s not yet the end
    MFW #4 OPs (offset): 2018 £866.89, 2019 £1322.33, 2020 £1337.07,
    2021 £1250.00, 2022 £1500.00, 2023 £1500
    Target for 2024 (offset) = £1200, YTD £345
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  • teachergirl
    teachergirl Posts: 767 Forumite
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    Thanks Jon. Will stick to trying to get my monitor to zero. Cardew don't worry I know I am using all the electricity, as you are quite right on this exceedingly grey day I am producing very little. At the moment though I am trying to understand how it works and what to look for so that hopefully on future sunny days I will know how to make the most of my solar panels.
    Enough money to live on so retired early...planning to see where life takes me:D
  • Jon_Tiffany
    Jon_Tiffany Posts: 393 Forumite
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    Cardew wrote: »

    Also just one example of putting on a dryer, dishwasher, washing machine without a full load(to take advantage of 'peak' generation) will wipe out any savings.

    Cardews point is very correct and worth stressing again, dont be tempted to run part loads.
  • teachergirl
    teachergirl Posts: 767 Forumite
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    Hi there Jackieblack we must have cross posted. Welcome:)
    Enough money to live on so retired early...planning to see where life takes me:D
  • Jon_Tiffany
    Jon_Tiffany Posts: 393 Forumite
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    What we found very useful was that we had been using an energy monitor for some time before we had the panels. This gave us a really good feel for our electricity usage, how much each appliance used and when. This makes life a little easier when trying to judge the best time to put things on.

    I know this might not be much help for those who already have panels, but posted it as it may help those who are planning to in the future.
  • keith_r59
    keith_r59 Posts: 255 Forumite
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    Mankysteve wrote: »
    Well 10-15 years just to break even is a poor investment if your bank went give us that money and in 10-15year we'll start to make you some money you know where you'd tell them to go.

    You will gain your money back not got any argument with that, but if you just going for PV for financial gain Its very poor indeed.
    What a panel life 40-50yearsish? plus a new inverter every 15ish years.

    Don't get me wrong I'm not anti Pv far from it but we do have to be realistic about things.

    Solar PV, when compared to a pension annuity for example, is a very good investment and makes perfect financial sense. But as with any decision it is all down to the individual's own personal circumstances, so what may be beneficial to one person isn't necessarily going to be of benefit to another.

    For me personally, my Solar PV system is just one of a number of different investments that I use to provide me with a pension income and to date I am more than satisfied with the financial returns I am getting.
  • smartn
    smartn Posts: 296 Forumite
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    keith_r59 wrote: »
    Solar PV, when compared to a pension annuity for example, is a very good investment and makes perfect financial sense. But as with any decision it is all down to the individual's own personal circumstances, so what may be beneficial to one person isn't necessarily going to be of benefit to another.

    For me personally, my Solar PV system is just one of a number of different investments that I use to provide me with a pension income and to date I am more than satisfied with the financial returns I am getting.

    Sorry to go Off Topic again Teachergirl . Mine is actually used to fund pension savings, so any payment I get back from the fits will then go into my pension and reclaim tax on the pension payment. It's money I'm happy to tie up as a very (ie 25 yr) long term investment.

    Cardew - I think you are being a little negative regarding the fit payments. It's an investment thats not for everyone but when you have money sitting in the bank not earning a lot with the likelihood rates staying low for the medium future its worth investigating other options. Do you mind me asking if you have Solar PV and if not why not?
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