Would you do it again?

rugbyleague

I really appreciate you looking after me here! They have sent me an image file of my house with the panels attached and I have asked them to confirm their measurement's.

Ian

rugbyleague

Hi Martyn yes all estimates the details of 5.89kwp system below

Suppliers estimates

Electricity produced 4912

Feed in tariff £216
Electricity saved £385
Electricity sold £119

Annual total £720

System cost £5855

So apart from system cost the rest is estimated.

Ian

Martyn1981

rugbyleague wrote: »

Electricity saved £385

Ian

The bells, the bells! I thought I heard something ringing.

Ok, obviously all the advice that any of us can give is only a rational estimate. We could all be wrong.

However, £385 .................. no!

That looks in the region of 50% consumption of generation, and at a leccy rate of 15.68p/kWh.

Unless your leccy consumption is huge, that's not going to happen.

I generate 4,400 (on average) and consume about 30%, saving me somewhere in the region of £180. I'm possibly in the upper leccy savings bracket, but I do have a big system, and the E/W split helps (though winter generation is poor).

If you have a 5kWp+ system, and take sensible steps to use leccy in the day, then £200 may be perfectly possible, but these are upper figures, and despite my comfort in recommending PV, I'm less than comfortable discussing leccy savings in the £200+ region.

BTW. Don't be too concerned about the installer suggesting 50% consumption, they all seem to do this, partly based on the scheme only paying export on 50% of generation.

Mart.

rugbyleague

Understand Martyn

Electricity consumption not huge £53 a month.

From the quotes I've been getting they all have used similar numbers to demonstrate savings.

I really thank you for explaining how it all works. As I said in my first post so long as I don't run at a loss then it feels the right thing to do and even with £200 savings payback doesn't extend hugely....have asked them to quote with a battery ready inverter and cost up a display unit.

rugbyleague

Just another thought they have quoted for 5 different systems with slightly prices and power outputs I don't really understand what makes one better than another.

pinnks

Now that I have been able to measure import, export and total consumption for a year, I know that my leccy saved (total house consumption, not including diverted, less imported) for the 12 months to 31 May 2016 was 1,674kWh, or about £175 at my current unit rate. And I think I am now doing pretty well at maxing out on own consumption and with a split roof, large install, will be able to cover my base load for more hours than a single roof install.

So, to suggest a leccy saving of £385 is like making a pudding out of nothing but eggs. Mart's suggested figures are much more realistic.

rugbyleague

pinnks wrote: »

Now that I have been able to measure import, export and total consumption for a year, I know that my leccy saved (total house consumption, not including diverted, less imported) for the 12 months to 31 May 2016 was 1,674kWh, or about £175 at my current unit rate. And I think I am now doing pretty well at maxing out on own consumption and with a split roof, large install, will be able to cover my base load for more hours than a single roof install.

So, to suggest a leccy saving of £385 is like making a pudding out of nothing but eggs. Mart's suggested figures are much more realistic.

Can I just check with you and Mart, the reduced leccy saved bit wouldn't change your decision to install?

Ian

Martyn1981

rugbyleague wrote: »

Can I just check with you and Mart, the reduced leccy saved bit wouldn't change your decision to install?

Ian

Actually I've already done it, so to speak. I expected a 20 year payback on my WNW extension (with a 25yr FiT) and approx £30 leccy savings (on top of the ESE savings).

So having got hooked, I am / was happy to do it. And I was pleasantly surprised that the SolarEdge kit coped well with all the shading, so actual payback is looking more like 14 years. But that doesn't include a replacement inverter or cost of capital*.

* Perhaps I'm wrong, but I reckon the cost of capital, if around 1% to 2% can be ignored as the inflationary uplift on the FiT covers that. To better explain, I'm thinking that the interest on the savings, would be wiped out in real terms by inflation, so it can (perhaps?) be ignored.


For you, you need to take a sensible look at the total income (FiT, export and leccy savings) then divide that by the cost to give you a gross return.

If you want to be ruthless, then the 20yr FiT requires you to devalue the system at 5% pa (depreciation), and perhaps allow 1% for maintenance (mainly a replacement inverter). So you need 6% to break even.

As this is a MSE site, you may want 8%+ to be persuaded.

Alternatively, as this is a G&E board, you may happy in the 6-8% range as there are also environmental pluses. Based on the earlier, loose, estimate of £500, then for an 8% return, you'd need to pay £6,250 or less.

I suppose there's also a long term benefit in the potential battery storage idea. It would be a totally separate investment, that has to make sense at the time. However, without the PV, you won't be able to consider it, though you could of course purchase PV at a later date.

It's your decision, and you shouldn't be influenced by anyone, particularly myself, as I enjoy being part of the new energy revolution, but that has no financial value, just a hobby(?)

Mart.

pinnks

Yes, without question.

Just looked at my quote. They used 50% for leccy savings for me too - must be the norm I guess...

You might be interested in this post, which shows my generation, use and export for a year https://forums.moneysavingexpert.com/discussion/5471656

rugbyleague

Mind made up!
Love that software and i'm wondering whether my system will have something similar!
Ian