How much to live on

MarzipanCrumble

Umm market drivers??? So you are not the only one asking for quotes for panels/battery etc. With the Price Cap % rise predictions I expect that sellers of panels are rushed off their feet….

Organgrinder

https://forums.moneysavingexpert.com/discussion/comment/82160269#Comment_82160269

I'm sure they are - but still no reason to advertise at say £6k and then quote at £7.5k.

Anyway, this past hour I've had two companies stick to their advertised price - reviews on the internet are good too.

Squint

@Organgrinder I am finding the same thing with the solar quotes I am getting. It is frustrating as it is by no means guaranteed that the investment will be worth while.

Organgrinder

https://forums.moneysavingexpert.com/discussion/comment/82161771#Comment_82161771

Agreed.

I think advertising standards need to get involved.

Organgrinder

Solar and EV update.

I analysed my peak usage from my bills. Averaging about 110kwh per month in summer. This included a couple of hefty EV charges when the energy was free so actual average is more like 100kwh. We now do the dishwashing and washing overnight hence the low figures.

Assuming a 40% increase in winter our average peak use will be about 120kwh per month over the year with all other usage at a current rate of 6.99p per kWh.

This makes our peak bill for the year £455 and our non EV off peak about £100. In theory I suppose all this could be shifted to solar plus get some from a feed in tariff. But if I factor in the initial outlay and the loss of interest (none of the solar companies use this in their calculations) my break even looks to be when I'll be well into my 70s and that doesn't include maintenance costs etc.

I just modelled this using figures from the quotes I've had, an estimate of maintenance costs and payback is now in year 11 (or greater) and nowhere near the 7 or 8 year payback claimed.

If I add in inverter or battery replacements at any time from year 10 onwards it makes it difficult to justify.

I'm really starting to fail to see how solar gives me any return in anything like the timescales quoted. Or maybe I'm missing something.

And then I remembered about the increase in the value of your house. Oh decisions decisions.

On the EV front, after the £5/month rebate I get it's working out at a net £6.60/ month to run. Roughly 1.1p per mile.

Squint

I know we will only be in this house for a maximum of 12 years. Payback said to be 7 to 8 years on solar, but it is dependent on the buy back price. If that isn't guaranteed, it would be more like 14 years. The remaining financial reason to do it is house price, but not sure.

Organgrinder

https://forums.moneysavingexpert.com/discussion/comment/82166770#Comment_82166770

Exactly this for me too (apart from length of staying in house).

I fear that once these wars end, energy prices will drop £200 a year. It's a risk I know, but once I factor that and the loss of interest in it's a big outlay for potentially little return.

If I were to factor in my average stocks and shares returns spending that amount of money gives me no return at all.

Equally I can see battery prices come down significantly in the next couple of years too making battery only a viable option too.

And yet there is that nagging doubt that it might still make sense!

kempiejon

I have a colleague out in the sticks who has suffered from a few power cuts in recent years, when working from home it is a bit of a problem so an off grid back up seemed a worthy investment. I know a few others fitting solar who factor a financial benefit but I don't think that's been the prime driver. Most solarists I know are eco aware with disposable income. A few years back I was chatting to some teenagers and those whose parents had electric cars seemed the smugger more superior, I had not thought about the social kudos of the greenerati adopting such products.

helensbiggestfan

"Greenerati". Lol. not heard that one before, love it. I agree with your comment about how smug they can be. It also makes me smile when I hear them lecturing/hectoring people for not being green enough. Sometimes they are far more wasteful than the people they are trying to convert……

I am a firm believer in making full use of new technology to improve lives, save money and protect the environment but I often think people sometimes forget the basics. And there is a danger that by relying too much on technology we forget the traditional skills and habits that our parents and grandparents used to great effect.

I wouldn't call myself a "prepper" as such but I know I could manage for a while in case of bad weather, power failures etc. When I was young and stupid I once laughed at my mums well stocked store cupboard, asking her if she was preparing for WW3. She just gave me a quiet smile and said "well I survived WW2". (She was Belgian and had lived under the German Occupation). That was me put in my place. 😂

I have had a bit of a run ……oven broke down, fortunately it was just the element. The microwave died, as did the lawnmower and both the hoover and vax cleaner are struggling. Hey ho.

On a more positive note the decluttering and Swedish Death cleaning is going well. I found a company that does a doorstep collection and who will donate to a partnered charity on your behalf. Easy peasy. Yes I could have listed some of it for resale but I have decided to forget the sunk cost and just clear the decks in the easiest quickest way.

Albermarle

"Greenerati". Lol. not heard that one before, love it. I agree with your comment about how smug they can be. It also makes me smile when I hear them lecturing/hectoring people for not being green enough. Sometimes they are far more wasteful than the people they are trying to convert……

In fact to be really green, you should strive to have the minimum activity possible. For example driving 200 miles in an electric car maybe be more environmentally friendly than in a diesel car. However it is far more environmentally friendly not to have a car, and not take that journey. Likewise having no holidays at all, is much greener than even having a staycation. Plus a multitude of other example.

Of course we are all used to the convenience and freedoms of modern life, but it is worth thinking sometimes that when you are planning to buy that new whatever, that is advertised as sustainable and eco, that the most green thing would be to actually not buy it at all.

I guess the economy might suffer though if we all did that !