FEED IN TARIFFS Vs PENSIONS/ ISAs

reeac

darrenogden wrote: »

The quote was for 16 panels, they didn't mention the size.
The returns are index linked and as electricity costs increase, as they have to do over the next 10-20 years, i think the investment is sound.The fact the cash isn't there any more is a downside against an ISA, but then again its the same with pensions as i understand it.
I think the more self sufficient you can be, the better in the coming years!

If that's 16 panels of 185 watts each then it's a 2.96 kWp system for which my supplier quotes £12,575. That's for Mitsubishi panels and a Frontius inverter [i.e. good quality stuff]. If your quote includes comparable hardware then it's a very competitive one.
Regarding reliability of PV panels my experience is limited to one 21 W panel on a stable roof which charges a 12 volt battery - been there about 7 years now - and a set of solar powered instruments on a sailing boat which are 5 years old now and work well.

Cardew

macman wrote: »

I was prompted to recheck my own warranty which is:
20 years (not 10) on the panels.
5 years on the inverter.
2 years on the installation (cabling, grid connections etc).
That's enough to give me peace of mind.
NB: a 16 panel system is probably going to output around 3.36 kWp, On mine (6 hybrid panels), the rated output is 0.210kWp per panel.
But do remember that that is a theoretical figure, in reality around 90% of that is what you will get in optimum conditions.

Macman,

There have been countless products sold with a lifetime warranty that have turned out to be worthless as the firm ceases to operate after a couple of years.

Many firms in the solar thermal 'industry' - especially based in the Christchurch/Bournemouth area - have ceased trading only to open up with a different name, but same people, equipment and sales tactics. Their previous guarantees are worthless.

The present frenzied selling of solar PV systems with loads of firms cashing in will not last - and the Government have declared that FITs will not last forever for new systems. (By that I mean a cut-off date for new systems to qualify, not a reduction for currently qualified systems).

When that happens there will be no work for PV installers and they will move on to other ventures and long warranties will be useless.

Given that the systems are inherently reliable there will be few firms operating in the repair field; and that means high prices.

That said IMO solar PV is for most people a good, but very long term investment.

As stated above it is best treated as an annuity rather than an investment.

macman

Luckily my installer was a very long established electrical contractor who is not dependent solely upon PV, and is still very much in business. My system was installed in 2006, long before FITs came into existence.
I believe the guarantee is supplied by the manufacturer of the panels (Sanyo in my case). They will probably be around longer than I will...
You are absolutely correct that it will be a long term investment, if mine breaks even in another 7 years I would be delighted.

Cardew

macman wrote: »

Luckily my installer was a very long established electrical contractor who is not dependent solely upon PV, and is still very much in business. My system was installed in 2006, long before FITs came into existence.
I believe the guarantee is supplied by the manufacturer of the panels (Sanyo in my case). They will probably be around longer than I will...
You are absolutely correct that it will be a long term investment, if mine breaks even in another 7 years I would be delighted.

If you installed a system in 2006 and thus get no FITs(I appreciate you probably got the £2,500 grant in England??) how will your 1.26kWp system ever pay for itself?

macman

It may never do so, but I didn't install it purely with a view to eventual profit.
I also think that the system adds value to the property, as I can demonstrate a benefit of around £350pa in FITs and reduced grid consumption.
Having said that, I would not have considered it without the original EST grant aid of £3,150.

Equaliser123

antirobin wrote: »

Applied in Oct, after panels installed. They STILL have not accepted my application and are now refusing to answer my emails. WHat a load of rubbish.:money:

They have 10 working days to process it if I recall correctly.