Solar panels - yes or no??

dreaming

Hi, I am hoping for some views so I can weigh up whether to have solar panels/photovoltaic panels fitted.
The gist of the story is that I am being made redundant this summer with a good pay-off. I am treating it as early retirement (I will be 58) and with the mortgage paid off I think my work pension will be enough for my monthly outgoings (if I am relatively careful). Knowing that fuel bills are likely to keep rising (do they ever come down?) I thought it might be a good idea to look into how I can ensure my monthly bills stay fairly stable over the next few years. So I thought I might have solar/pv panels fitted when I receive my severance pay. House is south west facing 2 bed bungalow with no big trees around so should get lots of sun, or light anyway. Not so worried about recouping cost (rough estimate is 5-8 thousand) - more about "future proofing" my bills. Currently pay £54per month gas and electric - live alone so light user.
Any thoughts, especially from anyone who may have had them fitted, would be welcomed. Thanks

ljonski

I would probably say Yes, but with a couple of provisos. Don'#t get the cheapest solar panels, but the best you can afford. It may take 20 years to get your money back, although if you sell this could be offset by the selling price.

use some of the severance money to do something that you want to ,- whilst you still have your health. HTH

Ectophile

There's more discussion of solar panels on the Green & Ethical Money Saving section of this forum.

I got panels installed when they were much more expensive, but the FIT payments were also higher. They are now earning me a nice little income.

If you are planning to stay in the same house for the next 10 years or so, they could definitely be worth it. You will be getting the FIT at whatever the rate is when you have the panels installed, as well as free electricity during the day.

If the panels are fairly priced, and the site is ideal, then I would hope that the panels would have paid for themselves after 10 years. The installer should be able to the calculation for you.

dampdaveski

A friend of mine has a 16kw system fitted recently, his main motive (he is an accountant) apart from the 'green feel good factor' was that the money he invested gave him a greater financial return than having the money sat in the bank earning a poor interest rate.
He doesn't intend to move house anytime soon

ljonski makes a good point though, spend some of it and ENJOY it

paulmapp8306

Id say yes as well. I cant afford panels myself, so went for the "free" ones.

There not exactly free of course as I dont get the FITS - however our house is pretty much south facing and we generate enough power to run all the stuff on standby, and the "always running" things like the fridge during daylight hours even in winter (you still get some power). On a half decent day we run the TV/Radio and computer too. In summer on a nice day we can even run the washing machine on top (just) for nothing.

its about managing when you turn things on - so even without the FITs is still making a decent impact on our bills. With the FITS, which should pay for the system over 8/12 years (cost and location dependant), by the time your into your 70s you "could" be electricity neutral (ie the FITSs could cover your "dark" hours use-age) as your single and a light user.

macman

dampdaveski wrote: »

A friend of mine has a 16kw system fitted recently, his main motive (he is an accountant) apart from the 'green feel good factor' was that the money he invested gave him a greater financial return than having the money sat in the bank earning a poor interest rate.
He doesn't intend to move house anytime soon

ljonski makes a good point though, spend some of it and ENJOY it

Are you sure about that? That is an enormous system, about 64 panels. based on 250W each. FITS are not paid on domestic installs above a rating of 4kW, so most systems stop at 16 panels, roof size permitting.

Jonesya

Before you start looking at ways to generate electricity, make sure you've done everything possible (within reason) to reduce your usage, as energy saving measures normally give far more bang for your buck:

- have you switched to low energy lighting?
- insulated the loft to 270mm?
- got cavity wall insulation? Or if you've got solid walls, looked at external/internal insulation?
- Have you got an efficient boiler with good controls?
- Double glazing?

dreaming

Thank you all for your comments so far - I have now looked at the Green & Ethical board as well.
Jonesya - yes I have cavity wall insulation/270mm loft insulation/double glazing/good modern boiler/all low energy lighting. I did all the "cheaper" things in the last couple of years since moving here. PV is the last thing - other than looking at how I use power.

Enjoying myself - hmm, well after working hard most of my life my enjoyment will come from not having to work (if I can manage it). Spending more time with my family and friends is the best thing I could possibly think of. I don't particularly enjoy travelling, and honestly can't think of anything that I could buy which would give me "enjoyment", so want to use my cash to ease the future and try to ensure I am comfortable without having to worry so much about rising costs.

Any negatives from anyone?

dampdaveski

macman wrote: »

Are you sure about that? That is an enormous system, about 64 panels. based on 250W each. FITS are not paid on domestic installs above a rating of 4kW, so most systems stop at 16 panels, roof size permitting.

Well done macman for spotting the deliberate mistake ahem!!

He has 16 panels on his roof, i think i'll stick to having an opinion on damp related matters!

k66

We've just had a 4kw system fitted and are very pleased with it. We see it as an investment. We did a lot of research and went for Panasonic/Sanyo.

dreaming

k66 wrote: »

We've just had a 4kw system fitted and are very pleased with it. We see it as an investment. We did a lot of research and went for Panasonic/Sanyo.

Thanks - have been reading my first quotation, and also the Green & Ethical Board discussions. I have been quoted for 2.5Kw (I guess being a smallish house) and some Ulica panels, although he did mention Samsung at a similar price, or Bosch which were a couple of thousand extra.

Finding that the more I read the more confused I am getting. Need to find a good independent source of information.