Invest in green energy rather than keep money in the bank?

andreauk2009

Well, apologies if this is the wrong category. As I was thinking to sell the property, today I get a gentlemen to make the EPC.

While chatting it has emerged he installs also solar panel (a german model I can't remember the name) and he at the end of the conversation he show me the potential income I could get by installing 16 solar module to generate 4KW.

The cost, roughly £7500, can be recovered in about 7 years which is given from the following S.A.P. at value of 3928.
- 13.9 cents per unit of energy produced, £546
- energy selling, £85

I've been explained the values are for 3 hours a day of light, but of course we have more than that, especially during the summer time.

On top of this, there is a potential gain in energy cost reduction, say %50?

TBH I'm quite tempted to go for it... but as usual it may seem too good to be true. What do you think?
Do you have any advice?

EricMears

andreauk2009 wrote: »

Well, apologies if this is the wrong category. As I was thinking to sell the property, today I get a gentlemen to make the EPC.

While chatting it has emerged he installs also solar panel (a german model I can't remember the name) and he at the end of the conversation he show me the potential income I could get by installing 16 solar module to generate 4KW.

The cost, roughly £7500, can be recovered in about 7 years which is given from the following S.A.P. at value of 3928.
- 13.9 cents per unit of energy produced, £546
- energy selling, £85

I've been explained the values are for 3 hours a day of light, but of course we have more than that, especially during the summer time.

On top of this, there is a potential gain in energy cost reduction, say %50?

TBH I'm quite tempted to go for it... but as usual it may seem too good to be true. What do you think?
Do you have any advice?

One major bit of advice ! get some more quotes.
Your chap seems somewhat overpriced by current standards - assuming your £ means UK pounds (although the reference to cents is a tad confusing).


Look through this group's FAQ pages for a better idea of what you might generate - and the figure of 3 hours per day sounds rather strange !

andreauk2009

EricMears wrote: »

One major bit of advice ! get some more quotes.
Your chap seems somewhat overpriced by current standards - assuming your £ means UK pounds

Copied. Yes price are UK sterling.

EricMears wrote: »

Look through this group's FAQ pages for a better idea of what you might generate -

Well, I'm confident that I can generate a bit more, but the chap said that they are allowed to always communicate the minimum it can generate, hence the 3 hours a day of light.
He shown me a map of UK, divided in zones: at the south the value was 1200, the area where Hertfordshire is was 1100.
I don't remember the name of this figure though.

Also, it must be considered that given my roof position, I won't operate at 100% but at roughly 93% of the efficiency hence the lower number?

rogerblack

Don't forget to factor in the chance of you moving.
If there is a 10% chance you may move - then that's a 10% chance that at some point your investment is totally lost.
It is unlikely you can continue to recieve any money after you move, and you can't recover the panels. (well, you can, but you can't reinstall them and get FIT)

andreauk2009

rogerblack wrote: »

Don't forget to factor in the chance of you moving.
If there is a 10% chance you may move - then that's a 10% chance that at some point your investment is totally lost.
It is unlikely you can continue to recieve any money after you move, and you can't recover the panels. (well, you can, but you can't reinstall them and get FIT)

Well, while selling wouldn't I be able to add an extra on the value of the property?

jimjames

andreauk2009 wrote: »

Well, while selling wouldn't I be able to add an extra on the value of the property?

Only if you can find someone willing to pay that extra.

andreauk2009

Can somebody point me to the link of the FAQ? I can't find it for some reasons.

EricMears

andreauk2009 wrote: »

Can somebody point me to the link of the FAQ? I can't find it for some reasons.

It's here : https://forums.moneysavingexpert.com/discussion/3872445

andreauk2009

Just reading few bits of the FAQ, but not sure I get them right. Try to summarize.

a) It is better to use 4 appliances for an hour each rathen than all the same time. Why is that?
b) Switcing from Gas to Electricity could cost more. There is an example with a water tank that can boil water with electricity, and some figures where Gas is cheaper than Electricity.
I don't think it is correct, because normally Gas cost about 0.10p more than Electricity? However, I have to admit the one I had a look at is the unit price, whereas the FAQ refers to the KWh which it may be different in this case?

EricMears

andreauk2009 wrote: »

Just reading few bits of the FAQ, but not sure I get them right. Try to summarize.

a) It is better to use 4 appliances for an hour each rathen than all the same time. Why is that?
b) Switcing from Gas to Electricity could cost more. There is an example with a water tank that can boil water with electricity, and some figures where Gas is cheaper than Electricity.
I don't think it is correct, because normally Gas cost about 0.10p more than Electricity? However, I have to admit the one I had a look at is the unit price, whereas the FAQ refers to the KWh which it may be different in this case?

(a) The point being made is that you need to avoid the situation where you might say "Yippee ! I'm generating 3KW and only using 1 kW" but then go and switch on 4kW of extra load. I don't think it specifically means never switch on more than 1 extra appliance - just commenting that it might be better to spread the extra load.


(b) Suggest you look at a recent gas bill which should show (somewhere !) what you're paying per kWh of energy. Suspect you're looking at the price of (say) 1000 cu feet and not at the amount of energy that supplies.

andreauk2009

EricMears wrote: »

(b) Suggest you look at a recent gas bill which should show (somewhere !) what you're paying per kWh of energy. Suspect you're looking at the price of (say) 1000 cu feet and not at the amount of energy that supplies.

Well my most recent bill says:
gas used, 120 units = 1330KWh x 3.47p = £46.20
electricity used, 287 KWh x 10.79p = £30.97

Working out on those numbers I get
gas, cost per KWh = 28.78p
electricity cost per KWh = 10.79p

So, ultimately gas costs more than electricity. Still not understand.