Dont bother saving!

1nvicta2

Having got fed up with decreasing savings interest rates I decided to spend some and splashed out on a solar heating system.After the first month in operation my fuel bills have dropped enough to equal the interest I would have earned before the recession:j

Fur156

Thats not a bad idea,
Does it still give alot of hot water during the winter months ?
I would not mind looking at the idea myself for my home.

Lokolo

Its been proven on many occasions on this forum that solar heating and power do not give a better return than the overall cost.

purch

Dont bother saving!

I thought your post indicated that you were saving ??

ricll

1nvicta2 wrote: »

Having got fed up with decreasing savings interest rates I decided to spend some and splashed out on a solar heating system.After the first month in operation my fuel bills have dropped enough to equal the interest I would have earned before the recession:j

yeah but you still have the money you invested in to account for, which probably cancels it all out. Nevertheless it is good for the environment.

uk_steve

Lokolo wrote: »

Its been proven on many occasions on this forum that solar heating and power do not give a better return than the overall cost.

yeah but its the same as savings with inflation at the mo;)
i like the sound of the enviroment bit


OP sounds like a good idea what you done

may i ask how much it cost to install?


mind you i am not a green person

the nearest i have turn green is when i have had far too much to drink

amistupid

My signature sums up the situation.

TighterThanTwoCoatsOfPain

uk_steve wrote: »

yeah but its the same as savings with inflation at the mo;)
i like the sound of the enviroment bit


OP sounds like a good idea what you done

may i ask how much it cost to install?


mind you i am not a green person

the nearest i have turn green is when i have had far too much to drink

my bet is that the OP is the installer :beer:

johncolescarr

uk_steve wrote: »

yeah but its the same as savings with inflation at the mo;)
i like the sound of the enviroment bit


OP sounds like a good idea what you done

may i ask how much it cost to install?


mind you i am not a green person

the nearest i have turn green is when i have had far too much to drink

It depends on your horizon as to whether this is a good investment. Personally I think this could turn out to be a very wise decision, not only is there the reduction in heating bills to consider, there is also the value added benefit of increasing the value of your home. Also, I can envisage a carbon tax to households much like there is to cars (through our car tax) as the government strives to meet its environmental obligations ( now law).

These financial assessment cannot only consider payback period and ultimately such exercises are only guesses since who knows how much oil and gas will be in x years time.

Sorry for the rant!

John

1nvicta2

Fur156 wrote: »

Thats not a bad idea,
Does it still give alot of hot water during the winter months ?
I would not mind looking at the idea myself for my home.

I can't yet say.its only been operating for a month,but it works on quite dull days,surprisingly, but obviously it's best on bright days.I suppose it depends on the location.I live in Norfolk,where we do get a lot of sunshine,even if it's cooler.
One of the other comments suggested I might be an installer.This not true!

1nvicta2

ricll wrote: »

yeah but you still have the money you invested in to account for, which probably cancels it all out. Nevertheless it is good for the environment.

I dont expect the system to pay for itself and never did but it does carry a 10 year guarantee so there is nothing else to pay for.