Project Solar - am I getting ripped off? HELP!!

dan318064

Hi

I'm completely new to the forum world and also to solar power so am struggling with all the info I've been given. I have seen a LOT of threads on here about Project Solar and what a rip off they are so am treading very carefully but (surprise, surprise) the bloke we've been dealing with who surveyed the house etc seemed genuine (!) and has been very helpful in answering our queries and has offered a much lower price after some negotiation.

As I say, I'm very new to this so their new offer could be cheaper than before but there are so many facts and figures that it's become too confusing to pick out whether it is really a good deal, which seems to be 2 words not associated with Project Solar!

We have a flat roof on our loft conversion which can house 4 panels and can get south facing sun all day, it is 22msq. On our rear extension (its a standard Victorian terrace) we can get another 8 panels and this has a pitch of 40 degrees and faces South / South/West.


I have to confess we haven't collected any other quotes as it has all happened quite quickly with Project Solar. We haven't signed anything and are willing to approach other companies but if this seems an ok quote we'd go with it.
I suspect it may not be from the tone of every Project Solar thread on here!

Please could anyone with a spare couple of minutes cast an eye over these figures and let us know if it seems reasonable or insane. If it's insane we'd welcome any suggestions and recommendations.

Project Solar have offered us this:

Core components 12 x SunPower solar panels Included
12 x Tigo Optimized Included
Battery Storage Included (Duracell)
Social Energy Included
Voltage optimiser Included
Energy monitor: Solax monitor Included
K2 mounting kit Included
inc. access equipment (if required) Included
Installation Fully installed Included
Fully registered Included
10 year workmanship warranty Included
HIES warranty Included
25 year performance guarantee on the output of the module Included
Anti-theft device Included
48 hour repair response with dedicated customer care Included
Total cost of goods £10560.00
Total cost of labour £2640.00
Net total £13200
VAT @ 5% £660.00
Gross total £13860.00

Standard Performance Estimation:
Roof 1 kWp 4.00
Roof 1 KK 827
Roof 1 SF 0.83
Roof 2 kWp 0.00
Roof 2 KK 828
Roof 2 SF 0.77
Total kWh per annum 2745.64

They have stated:

Specification, assumptions & system output
Number of panels 12
Output wattage per panel 333.00
System size (in kWp) 4.00
Expected kWh 2745.64
Current generation tariff £0.0393
Current export tariff £0.0524
Current unit price of electricity £0.1465
Assumed rate of inflation (RPI) %3.04

In summary of performance they and cost they have said this:

Putting it all together
Total income & savings in year 1 £891.57
Total generation tariff income over 20 years £47,47.73
Total saving on electricity bill over 25 years £17,924.17
Battery storage saving £2206.50
Social Energy saving £10,750
Voltage optimiser saving £7965.49
Total savings from optional extras £20,921.99
Total income & savings over 25 years £43,593.9
Less cost of system (does not include finance charge) £13,860
Estimated profit from scheme (does not include finance charge) £29,733.90
Estimated payback time years 11 years
Average return on investment over 25 years 12.58%

We'd be covering this with finale which they have offered at 180 payments of £147.03 p/m at 9.9%

REALLY sorry it is all facts and figures but we're hoping there is someone out there that can translate this into "yes, that's ok" or "Woah, don't touch it with a barge pole".

Thanks so much for any feedback.

Dan

Crowmann

Allow me to be the first.

Ahem......

"Woah, don't touch it with a barge pole".

HTH

Martyn1981

Can I suggest you rush out and buy a barge pole, simply so that you are ready to not touch this deal.

Are they really saying £14k for 4kWp of PV?

What does 'battery storage included (Duracell)' mean? Does the quote include a massive home storage system, or do they mean some little batts for a flashlight?

The annual savings are garbage. Expect FiT's + export + savings to be closer to £300.

Edit - BTW, PV is now a tough financial argument, but it's impossible with finance especially at such a high rate.

ASavvyBuyer

Don't touch it! Get some proper quotes from other companies.


If you need a loan to pay for it, it is very unlikely you would ever break even (especially at that high rate of interest).


What is meant by "Social Energy saving £10,750" ? Never seen that before.

Coastalwatch

Just to add my two penneth, Ditto to all the above!:mad:

Merlin139

Voltage optimiser saving £7965.49 Impossible!

Don't use anyone's Barge Pole!

silverwhistle

I'd take the barge pole, push your 'nice' salesman off the barge and then hit him on the head with the pole when he tries to climb back aboard.

I think you're getting the picture now!:D

Zarch

13 grand for a 4kWp system? !!!!!!?

Just search on here, ballpark figure should be £4k to £6k for around 4kWp systems.

hollie.weimeraner

I've just found my quote from CTS renewables from 3 years ago including estimated returns. If you want to have a look I'll be happy to provide you with an edited copy.

I have just checked my FIT returns against their estimates and I'm just about £500 up

Send me your email address in a pm and I'll send it you.

Ectophile

Zarch wrote: »

13 grand for a 4kWp system? !!!!!!?

Just search on here, ballpark figure should be £4k to £6k for around 4kWp systems.

I suspect it would be nearer the top of that range with a decent battery. Batteries are still expensive. But it's nice getting free electricity all evening, not just during the day when you're out and not using it.



People have been trying to sell voltage optimisers for years. There's no real evidence that they do anything useful for most customers.

sleepymans

Please, please, please don't spend more than £5k on solar for your set up. Any more and you are being ripped off. the FIT isn't anything like when I signed up in 2015 and Id hate for you to be disappointed as well as ripped off