MyPlanet Quote

[Deleted User]

4KWp roof is spot on east-west. Heres the info they gave me:-

Estimated yield = 3040 Kwh

Generation tariff = 13.39 x 3040 = £407.06
Export tariff = 3040 x 4.85 x 50% = £73.72
Energy Savings = 3040 x 16 x 50% = £243.20
(think this is what they say you save by not using your own elec at 16p unit)

Total one year = £723.98

LED Lighting (yes really they're going to give me 20 bulbs).
Savings £210.24 ?????

MyEnergy - basically an immersion rod in your water tank. Savings £97.98. But its based on price of an immersion heater - which we dont use anyway!

MyEnergy+ - they give you a smart meter etc - £137.

TOTAL SAVED per year = £1168.50

TOTAL cost £9295. £121 a month.

Cant see how this is worth my while???? Somehow he worked it out as saving me £10 per month to start with and then getting better and making loads of money.

How? Even with they're dodgy figures its less than £100 a month yet the loan is £121 a month! I dont get it.

tunnel

[quote=[Deleted User];discussion/5246056]4KWp roof is spot on east-west. Heres the info they gave me:-

Estimated yield = 3040 Kwh

Generation tariff = 13.39 x 3040 = £407.06
Export tariff = 3040 x 4.85 x 50% = £73.72
Energy Savings = 3040 x 16 = £243.20
(think this is what they say you save by not using your own elec at 16p unit)

Total one year = £723.98

LED Lighting (yes really they're going to give me 20 bulbs).
Savings £210.24 ?????

MyEnergy - basically an immersion rod in your water tank. Savings £97.98. But its based on price of an immersion heater - which we dont use anyway!

MyEnergy+ - they give you a smart meter etc - £137.

TOTAL SAVED per year = £1168.50

TOTAL cost £9295. £121 a month.

Cant see how this is worth my while???? Somehow he worked it out as saving me £10 per month to start with and then getting better and making loads of money.

How? Even with they're dodgy figures its less than £100 a month yet the loan is £121 a month! I dont get it.[/QUOTE]
Run......fast.....far away, just do a search of the forum and see for yourself. The only figures that are correct are the generation and FiT rates, everything else is pants.

nigelpm

As I said to another poster this very day on another MyPlanet question the first response back to these folks should be "What planet are you on"?

Martyn1981

Copy of my post from the Energy board.

Martyn1981 wrote: »

Ouch!

I appreciate that the Green and Ethical board have given you the best advice on your quote breakdown ...... run away. But for this board, here's a quick breakdown.

Generation, FiT income and export income - all look reasonable, which seems typical from these dodgy guys, get that bit right or get shutdown by trading standards.

Leccy savings - typical assumption that you'll use 50% of generation to off-set import. They probably threw in an 'upto' as well. But halve that £243 figure to be more sensible. By all means hope for more, but own consumption of about 30% is more sensible.

LED savings - OMG here we go again! These are irrelevant, you could do this yourself, but is £210 a year possible from 20 bulbs? Well, theoretically you could save about £20 by replacing a high use 100W bulb with a 10W LED (as long as it's bright enough), at 4hrs per day, 365 days a year. But after that you'll be replacing lower use bulbs, and possibly lower power ones too. Replace a 60W bathroom bulb with a 10W LED, use it 20mins per day, and savings will be about £1pa.

So the savings will drop off as an average. A good idea to replace bulbs with lower energy ones, but £210!!!!

Gas savings from a diverter - lots of people with hot water tanks are doing this and reporting savings of about £70pa, so the figure you've been given of £98 isn't impossible, but it's certainly at the very high end.

System cost - £9.3k is a complete joke. For a split system (E/W) you can expect a small increase for extra scaffolding, and perhaps slightly more labour as 2 half jobs on the roof will be a little bit more than 1 whole job. The inverter will be the same, at the very most they would use a dual MPPT inverter rather than a single MPPT, but that probably only adds £50 IF they weren't using one anyway. So still means an install of £6k or less is highly possible.

Finance - for an E/W install you'll get about 20% less generation/return than a south facing system. For that reason you probably don't have enough wiggle room to consider finance.

Note: All of these numbers and tactics seem identical to the MyPlanet stories.

Mart.

Don't give up, it should all get better from here.

Mart.

[Deleted User]

tunnel wrote: »

Run......fast.....far away, just do a search of the forum and see for yourself. The only figures that are correct are the generation and FiT rates, everything else is pants.

Yes beginning to think that. Too many 'intangible' extras like savings for a few lightbulbs, savings by having smart meters etc.

[Deleted User]

nigelpm wrote: »

As I said to another poster this very day on another MyPlanet question the first response back to these folks should be "What planet are you on"?

Not recommend then myplanet?

[Deleted User]

Cheers Mart. Thanks for all the help.

Yes as you say the FIt figures are probably right like you say. The bulbs thing is a complete joke. Obviously chucked that in as an excuse to make the figures look better.

Leccy savings. I assume this if you use an elec during the day whilst its generating then you're saving because your using this not off the grid? But isnt this only valid if you're there in the day and its sunny lol. Not much good if you get home and its dark in the winter.

Diverter. OK so even though I use gas boiler now for hot water it would be £70 saved on gas? I had a feeling he was comparing it to using the elec immersion.

Smart meters. Agains something else chucked in with with a vague saving. Could buy one of these if I wanted to.

Also he kept harping on about how prices were going to rise and I'd save £70K in 20 years. Too many assumptions.

As soon as questioned some of these figures and told him I wanted a breakdown, he was out of the door in about 5 mins. Seems as soon as you start asking questions they'd rather move on to the easy pickings and gullible people.

[Deleted User]

So let me work that out. Ignoring bulbs. Smart controls fair enough - was thinking of getting anyway.

Generation/Export = £480
Savings = £120
Diverter = £70
MyEnergy+ = £135

So total saved = £800/year.
Loan payments = £121x12 = £1450

So £650 a year (£50+ a month) shortfall. Not good.
Reckon I need to get it installed for about £4500 to make it worthwhile even (£65 a month).

Perhaps I'll email myplanet and ask them ;-)

oldskoo1

Hi Paul

I don't know if you can get this to work but i had a few thoughts when i read your post.

I recently was offered a quote for £4,500 but i chose to upgrade the inverter so it was slightly more. So £4,500 - £5,000 quotes do exist,

Secondly a friend bought most of his install on a interest free credit card. I don't think he put the entire balance on it as you may not have the potential to have such a high balance. But he put a big chunk on it.

I would recommend you research properly what taking out an interest free credit card does to your credit score first. Also be prepared for a surcharge of 2% or so.

[Deleted User]

oldskoo1 wrote: »

Hi Paul

I don't know if you can get this to work but i had a few thoughts when i read your post.

I recently was offered a quote for £4,500 but i chose to upgrade the inverter so it was slightly more. So £4,500 - £5,000 quotes do exist,

Secondly a friend bought most of his install on a interest free credit card. I don't think he put the entire balance on it as you may not have the potential to have such a high balance. But he put a big chunk on it.

I would recommend you research properly what taking out an interest free credit card does to your credit score first. Also be prepared for a surcharge of 2% or so.

Thanks. So what does an upgraded inverter give you?

One option for me is to use savings. As long as its not more than £4500 or so. 9.9% apr seems a bit steep to me.

Only willing to do this if I can get a decent return/saving.

oldskoo1

[quote=[Deleted User];68449704]Thanks. So what does an upgraded inverter give you?

One option for me is to use savings. As long as its not more than £4500 or so. 9.9% apr seems a bit steep to me.

Only willing to do this if I can get a decent return/saving.[/QUOTE]

I would recommend only doing this with savings once you are

- realistically informed of expected returns and baseline returns

- using that information you think you can afford it

- you do not need the savings for at least 6 years.


I treated my install solely as an investment. It is predicted to give much better returns than an ISA. I can feel the tangible benefit of it, i.e. physically having it on my roof (even though electricity savings are factored into your ROI).

As it turns out i am now very interested in the data and operation of the things. With traditional investments its a bit of paper or a button press.

My reason for upgrading the inverter was i was hedging my bets. To up my ROI i wanted to install cheaper more value for money kit. In order to protect that investment i wanted to minimise the risk of having to pay another £700 out on replacing the inverter. So i paid an extra £250 out for a more respected "higher grade" chinese inverter.

Time will tell if this was a good or bad move but i expect to get a tiny bit back in running from improved efficiency, a longer warranty period and if it does go pop, hopefully the prices will have fallen after 10+ years so its a small dent in my yearly earnings.

This all sounds a bit clinical, i probably started out like that, but in the end if i did it again i probably wouldn't scrutinise so much over the detail, just do my homework, work out my baseline, get a good installer and a price that works for me.