The Edcawber Principle

edinburgher

Hi there Goldiegirl. Sorry I missed you, I'm not as active these days.

I'm a big fan of our solar panels, although they maybe aren't as good an investment in the current climate.

In terms of the numbers, I believe we paid c. £4,400 for a 3.135kW system (£1,400/kW). It's an odd number and maybe not the size I would have gone for in an ideal world, but I compared the three quotes that we have received and their price/kW for 250W, 285W and 400W panels. Our 285W panels were the most cost effective based on £/W and expected returns. In addition, we couldn't get 12 panels as our chimney would have shaded one, so ended up with 11.

We can cover a lot of our energy needs a) when the sun is out and b) when we're actually home. You'll appreciate that this is probably less often then yourself as we're both in the office 4 days a week. On a good day, the panels cover pretty much everything (so fridge/freezer/lighting/TV etc.) Obviously solar panels never operate at their rated output. I'd say on a very bright day that we generate c. 17-20kWh.

Our panels have provided an income of roughly £1/day since we had them installed. There are a few caveats to consider.

1) We had them fitted in December. I'd recommend against this, you basically earn next to nothing from maybe November to early March. The FIT tariff was being slashed at the end of the year though, so we locked in a much higher price per kW generated by rushing the installation
2) Like all things, averages can be misleading. We have produced perhaps 20% less than was forecast in advance. This could be considered as poor work on the part of the fitter, but they have a great reputation in the industry and I believe the chap applied the standard models correctly. Unfortunately for us, the last two winters have been terrible, I am sure that this summer will help to restore the balance
3. It's hard to accurately calculate ROI because I don't have a before and after expenditure on our electricity bill. We definitely have a low spend vs. averages, but I can't quantify what part of this is due to solar panel generated power being used and what part is down to our other behaviours (LED lightbulbs, energy efficient appliances, the Dad thing of turning things off all the time) On paper, 12 years or so to break even, but I'd estimate more like 8 including electricity savings.

Summing up, I like having solar panels a lot. They're definitely an inflation hedge, but not necessarily a massive one (it depends on what proportion of your monthly expenses the electricity bill represents)?

Unfortunately the present government is not a fan of small scale renewable and the FIT rates have been slashed. There was also a quite restrictive quota in terms of new installations in place for a while (not sure if it's still in effect). I believe the changes in rate have effectively doubled payback time.

Ah crap - after typing all that, I've just read that they're looking to close it entirely: https://www.ofgem.gov.uk/environmental-programmes/fit/about-fit-scheme/changes-fit-scheme

themadvix

Thanks Ed - that's a really interesting breakdown of the pros and cons. I think, regardless of the FIT, one day these will be on our shopping list.

edinburgher

themadvix wrote: »

Thanks Ed - that's a really interesting breakdown of the pros and cons. I think, regardless of the FIT, one day these will be on our shopping list.

The cost of installation is falling all the time TMV, so in some ways the government move to try and can FITs is understandable. I'd like to expand our system and add a house battery in future (it would be great to get a chunk of the charge for an electric car for free). That said, you can't add panels to an existing system with FITs being paid, so it would need to be standalone and I don't think we could do that without another consumer unit :think:

If I was ever to build a house, I'd opt for a roof full and batteries.

Suffolk_lass

We have noticed the roofs of many new-build industrial units across NL and DE are all wedge-shaped, oriented towards the sun and covered in solar or PV panels. A really simple planning change that would make a huge difference. Totally agree re a new-build. Unfortunately we can't have any here, with our reed roof!

edinburgher

I got a shiny new badge! 10 years eh?...

beanielou

edinburgher wrote: »

I got a shiny new badge! 10 years eh?...

MSE Badger has been aboot

edinburgher

£200 paid off a credit card. It's not as much as I'd like, but it is over 1% of my total outstanding debt. Am trying to be a bit more thrifty in August so that we start September with a surplus and not a deficit!

Should get a little easier as I'm getting less Childcare Vouchers now and this makes a difference of roughly £125 every 4 weeks.

beanielou

200 quid is good
Good news on the vouchers.

Goldiegirl

Hi, Ed, thanks for you input on the solar panels.

For various reasons, we've moved away from the idea of solar panels now, one of them being that our bathroom is in desperate need of overhaul. We've been in this house for 30 years next year (bought from new), and it's really beginning to show its age now. It all depends on the cost, but we are now considering a bathroom refit for next year. Also, if I'm going to spend a large amount on the house, I want something tangible that I can see, and enjoy using each day.

But I've learnt a bit this last week or two, so it's been time well spent.

Thanks again

edinburgher

I got promoted :j