How do your 12 month generation figures from PV compare to estimated?

NacNac

Hello everyone

the post below was from 2012 and is now closed

https://forums.moneysavingexpert.com/discussion/3830487

3 years later, I am wondering what people think of their PV investments. Some of the guys out there surely have at least 5 years experience.

Maybe some of you have also sold their house. Were the PV seen as positive or create issues when negotiating the price of the house ?

Experience from the ground is very valuable for newbie like me
So thanks in advanced for sharing your experience.

Merry christmas

jimjames

Our generation is about 30% higher than the predicted amount. We've had the panels for 4 years and will be paid back within the next 12 months.

Full generation info here
http://solar-panels-review.321web.co.uk/index.php/yearly-comparison-of-solar-pv

Bazofts_Revenge

Great results Jim, I've had mine 2.6 years and although I can't find my estimated generation figures I am more than happy with the return. With the FIT Payment and the Energy saved I estimate I have had 41% return so far so they should be paid for in another 4 years.

Jackthedog

I did the sums on mine this week.

11.89% p.a. return on initial investment cost (and that would be over 16.7%+ If I took into account the savings we have made on our electricity bill).

It has also made a big hit on our summer gas bill as we now longer use any gas March to September to heat water. (Unused electricity is routed to heat the immersion. )

Over 650 KWH MORE than was initially predicted was generated in last full year. This is over 20% in excess of the predicted figure.

Pretty pleased so far

Gurberly

I’ve only had the panels for the past 18 months, but the first 12 months figures looked very promising and similar to previous postings. Actual generation is 21% up on estimated with a corresponding increase in FIT and export revenue.

Based purely on that I’m hoping to get the payback of the initial installation costs (£5.8k) approximately 10 months early.

I’ve not included electricity and gas savings in that (like a previous poster we have an immersion switch to divert surplus energy to the immersion and turned the gas boiler off for the best part of 5 months).

In terms of payback and whether it is a good investment or not is not easy. Just comparing it to £6k @4% [5% less tax] compounded interest at TSB, it is not until year 9 that actual/predicted solar revenue reaches the value of a similar amount when left in the TSB….. and you take all the risk


Dave

NacNac

Hello everyone and happy new year.

After learning so much from this forum I would now like to share my own personal experience and hope this can be helpful to someone.

I placed the order for my solar installation in December 2015. There was a big rush as the government decided to prepone the drop of the FIT from March to the 14th of January 2016. It went from something around 12p/kWh to around 4.
I was lucky enough to find a company who accepted to take the order. Some refused as they could not guarantee to have the installation completed before the 14th of January. The company kept me informed of their progress (they worked all over Christmas and also during Sundays). My installation took place on Sunday 10th and I was able to apply and have my installation registered on the deadline. I therefore now benefit of the 12p/kWh FIT.

In a week, I will have had my system for exactly 12 months.

I have 16 panels 250W connected into two string on the inverter. I have opted for the device to warm the water when there is an excess of electricity.
My roof is facing 10° South with a pitch of 28° and is located between Chester and Manchester. There is no shade at any point in time.
To date, the panels generated 3825kWh. The company estimated (or guaranteed) for the first year at least 3400kWh and this is what was used for my Return On Investment calculation)

I do not know by heart the exact rate for the FIT and export tariff but let’s take respectively 12p and 4p

3825*0.12= 459pounds
3825/2*0,04=76.5pounds

I do not know yet how much imported electricity I have saved but it will not only be due to the electricity generated as I have replaced many bulbs by LED (be it the spot lights in the kitchen, lounge, dining room and floodlights in the garden). Prior the panels and the LED I had an average consumption of 2900kWh.

Finally, I have also made some savings on gas for heating the water. Generally, from mid April to mid October I have not used the gas boiler to heat the water. Surely they had been some odd days when cloud cover was too think but I am pretty sure that during that period there has been less than 10 to 15 days when I need to switch the boiler on.
The rest of the year, the solar panels still heat the water, more often than not, it still needs some help from the boiler but for instance on the 2nd of January, it has been sunny all day and 7,91kWh were generated. As we were not at home in the day, we had hot water in the evening. Note that I do not know how much kWh is required to heat the water entirely. Something worth knowing though.

I paid 6000 pounds exactly for my installation including the device for the hot water.

On the technical aspect, I have no regret, it works exactly as the company predicted (actually much better but they told me they would be conservative). Financially, It is nice to receive the tariffs and knowing that the bills on gas and electricity are less but I have 6000 pounds cash less in the bank. Nonetheless, if I take 459+76,5 = 535.5
(6000+535,5)/6000=> this is 8.9% interest rate equivalent for the first year. This is without taking into account the saving made by importing less electricity during the day and using less gas to heat the water.

Should I recommend solar panels. Yes.

I have a very positive experience so far and I am very proud of the installation.

If anyone wants more details please do not hesitate to ask.

Best regards

Jackthedog

Those figures seem in line for the fit rates you receive. A year on from my last post on this returns are still at 12% (and even more if you include savings on power consumption).

Best decision was having a system to divert excess production to the heat water. Mind you for most of summer the water tank is 'fully cooked' by about 1 pm so unless we do our washing/showering mid day we really are incentivised to do housework in the afternoons.

Then again the tumble drier uses a good bit...but seems odd on a sunny day. OTOH I roast coffee with the excess power most weeks which uses a bit and is a good money saver as my fresh home roast beans cost from 4 to 7 quid a kilo!