solar panel power generation

QrizB

Happy_Sloth said:

If the rule of thumb is that the average family only gets to use 60% of their generated energy, i think as a family we stand a reasonable chance of getting the same % as the average family because of our high daytime usage. (If not more)

Without a battery, it's more typically 30-40%. Until the introduction of smart meters, most people didn't know how much of their generation they used themselves. Take a look at Screwdriva's thread here for an example; in 2021 he generated 3515kWh but only managed to use 996 of them.

You will have the advantage of being at home and being able to use more than most but only time will tell how much more.

I'm just trying to temper your enthusiasm, not to put you off

Martyn1981

Happy_Sloth said:

Martyn1981 said:

Ideally, if it's a single roof install, I'd have hoped for a sub £7k price, maybe closer to £6k, but it does seem like prices are high at the moment.

Look like a nice package, and good advice on the battery.

Oops!  i totally misread the quotation.  It's actually £7100 (which is not anything like £9900... i don't know how i got that figure in my head!)  

Which i think makes the ROI 

£7100/ £70 =  101 Months /12 = 8.4 years.  

Thanks for that message, I missed your earlier post which crossed with mine.

That's much better, now into reasonable territory. I still think something closer to £6k might appear, but again, things seem really crazy lately, plus the leccy price increase will have impacted PV enquiries. 

Maybe consider annual savings for a special treat each year, that way the capital investment from your FiL will be giving you a nice annual gift for decades, and a pleasant reminder for your partner?

Happy_Sloth

Martyn1981 said:

Happy_Sloth said:

Martyn1981 said:

Ideally, if it's a single roof install, I'd have hoped for a sub £7k price, maybe closer to £6k, but it does seem like prices are high at the moment.

Look like a nice package, and good advice on the battery.

Oops!  i totally misread the quotation.  It's actually £7100 (which is not anything like £9900... i don't know how i got that figure in my head!)  

Which i think makes the ROI 

£7100/ £70 =  101 Months /12 = 8.4 years.  

Thanks for that message, I missed your earlier post which crossed with mine.

That's much better, now into reasonable territory. I still think something closer to £6k might appear, but again, things seem really crazy lately, plus the leccy price increase will have impacted PV enquiries. 

Maybe consider annual savings for a special treat each year, that way the capital investment from your FiL will be giving you a nice annual gift for decades, and a pleasant reminder for your partner?

that is such a lovely idea! i think short term some/most should go towards debt as the sensible thing, but i think setting some of it aside to buy something nice each year would be a lovely reminder.  My FIL was such a lovely man, we miss him so much but its hard to balance sensible with something to remind us of him. 

markin

Happy_Sloth said:

QrizB said:

Effician said:

Happy_Sloth said:

Hey all we've been pricing up a solar panel array. 

 we'd be using the last of my husband inheritance to pay for it at a time we don't have tons of cash laying about, so im looking to figure out if this would be a good use of that money?

At a price of around £11k?

Maybe a good time to go back to your debt free wannabe thread as i'm sure the experts on there could find far better ways of making use of the £11k you've just found.

Good point.

Clearing the kitechen loan (5.2%) and car loan (4.5%) would be a much better ROI than solar, and would reduce the OP's outgoings by £325/month.

I realise it seems counter initiative.. 

The money we have is not to be used for debt,  my father in law was very specific on what the money was for.   Ideally he wanted us to use it for holiday's,  or at a push he accepted home improvements.  But was very clear the money wasn't to be used for debt or bills. 

We have just been trying to see if we can figure out the best use of it, without going against his wishes. Hoping to find a way that would benefit our financial situation as well as still doing what he wanted. 

It looks like solar isn't going to improve our financial situation enough to be the loophole i was looking for … so we need to go back to the drawing boards.  

Clearing the Kitchen debt can count as home improvement, but at £325 a month by next Feb you can afford a nice holiday with £3,900. Or spend that on just Solar.