Going from Coal to Air Heat Source Pump and PV's using ECO4 grant scheme

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  • Pec123
    Pec123 Posts: 47 Forumite
    First Anniversary First Post
    Financial
    Generation
    The system is expected to generate 3399 kWh per year
    initially, decreasing gradually as the solar cells degrade. Over
    the 25 year term of this fnancial projection the total
    generation is expected to be 79867 kwh, of which 28654 kWh
    will be consumed on site and 51212 kWh exported.
    Payback
    After adjusting projected costs and benefts for infation, and
    applying a discount rate of 4%, the initial system cost of £0.01
    is expected to be recouped after 25+ years.
    Net Present Value
    The total present value of future benefts and costs, using a
    discount rate of 4% per year, is £17,216.57. The cost of the PV
    system is £0.01. The net present value of the project is
    therefore £17,216.56. A positive net present value is a good
    indication that the project is fnancially worthwhile.
    IRR
    The Internal Rate of Return is a useful measure for comparing
    the relative proftability of investments.
    Disclaimer
    Our fnancial model calculates the benefts of a solar PV installation (such as savings in
    electricity, or payments for exported electricity) and costs (the initial purchase cost, and
    any future maintenance costs if entered), over the projected lifespan of the system.
    Values are corrected for infation, system degradation, and discount rate - a measure
    that accounts for the fact that a promise of a monetary sum in the distant future is
    usually considered less valuable than the promise of the same sum in the near future.
    A model is only as accurate as the assumptions it makes. You should consider whether
    the values chosen are appropriate for your situation. There are many variables that
    dictate the fnancial return of a solar installation and we cannot forecast how they may
    change in the future. This fnancial projection shows a likely scenario for future fnancial
    returns. Actual returns may vary signifcantly from this forecast.
    Assumptions
    Infation rate 2%
    Cost of electricity £0.5 /kWh
    System size 4 kWp
    Discount rate 4%
    Projection length 25 years
    increases with infation
    degrades at 0.5% per year
    80
    MWh
    25+
    years
    £17216.
    56
    N/A
    %
    Income and savings
    The projected income from the system
    over the project lifetime in payments
    for generated and exported electricity,
    along with electricity savings, are
    shown in the table and graph below.
    These fgures assume an infation rate
    of 2 percent.
    Export payments
    Electricity savings
    Total
    Year 1 329 614 944
    Year 2 334 623 958
    Year 3 339 633 972
    Year 4 344 642 986
    Year 5 349 652 1001
    Year 6 355 661 1016
    Year 7 360 671 1031
    Year 8 365 681 1047
    Year 9 371 691 1062
    Year 10 376 702 1078
    Year 11 382 712 1094
    Year 12 388 723 1110
    Year 13 393 734 1127
    Year 14 399 745 1144
    Year 15 405 756 1161
    Year 16 411 767 1178
    Year 17 417 778 1196
    Year 18 424 790 1213
    Year 19 430 802 1232
    Year 20 436 814 1250
    Year 21 443 826 1268
    Year 22 449 838 1287
    Year 23 456 851 1307
    Year 24 463 863 1326
    Year 25 470 876 1346
    Total Export Payments £9889 over 25 years
    Electricity savings £18444 over 25 years
    0
    200
    400
    600
    800
    1000
    1200
    1400
    1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
    The bottom line
    The table and graph below show the
    discounted costs for the project
    (including the initial capital required for
    the installation), against the total
    discounted benefts from income and
    savings on electricity bills.
    The system does not pay for itself in
    the 25 years of this fnancial projection.
    Discounted benefts
    Cumulative benefts
    Discounted costs
    Cumulative costs
    Cashfow
    Year 1 925 925 0 0 925
    Year 2 901 1826 0 0 1826
    Year 3 878 2704 0 0 2704
    Year 4 855 3559 0 0 3559
    Year 5 833 4392 0 0 4392
    Year 6 812 5204 0 0 5204
    Year 7 791 5995 0 0 5995
    Year 8 771 6766 0 0 6766
    Year 9 751 7517 0 0 7517
    Year 10 732 8249 0 0 8249
    Year 11 713 8962 0 0 8962
    Year 12 695 9656 0 0 9656
    Year 13 677 10333 0 0 10333
    Year 14 659 10992 0 0 10992
    Year 15 642 11634 0 0 11634
    Year 16 626 12260 0 0 12260
    Year 17 610 12870 0 0 12870
    Year 18 594 13464 0 0 13464
    Year 19 579 14043 0 0 14043
    Year 20 564 14607 0 0 14607
    Year 21 549 15156 0 0 15156
    Year 22 535 15692 0 0 15692
    Year 23 522 16213 0 0 16213
    Year 24 508 16721 0 0 16721
    Year 25 495 17217 0 0 17217

  • Pec123
    Pec123 Posts: 47 Forumite
    First Anniversary First Post
    Self consumption
    We model here the performance of a solar PV system over the course
    of a year, using high resolution minute-by-minute generation data for a
    typical PV system and consumption data for a typical house, and
    calculating the fow of energy from the solar panels to the house
    during the day, and from the grid back to the house at night.
    We provide yearly profles of generation, consumption and import /
    export, along with detailed profles for a typical spring day.
    Consumption
    Electricity consumed in the
    property each year
    3900 kWh Generation
    Electricity generated by
    the PV array each year
    3398 kWh
    Self consumption
    Proportion of PV
    generation used in the
    property
    36 % Independence
    Proportion of electricity
    consumption provided by
    PV
    31 %
    Import / Export
    Electricity import / export
    each year from the
    property
  • Pec123
    Pec123 Posts: 47 Forumite
    First Anniversary First Post
    Performance Summary
    A. Installation data
    Installed capacity of PV system - kWp (stc) 4 kWp
    Orientation of the PV system - degrees from South See individual inputs
    Inclination of system - degrees from horizontal See individual inputs
    Postcode region 1
    B. Performance calculations
    kWh/kWp (Kk) See individual inputs
    Shade factor (SF) See individual inputs
    Estimated output (kWp x Kk x SF) 3399 kWh
    Important Note: The performance of solar PV systems is impossible to predict with certainty due to the
    variability in the amount of solar radiation (sunlight) from location to location and from year to year. This
    estimate is based upon the standard MCS procedure is given as guidence only for the frst year of
    generation. It should not be considered as a guarantee of performance.
    Shading will be present on your system that will reduce its output to the factor stated. This factor was
    calculated using the MCS shading methodology and we believe that this will yield results within 10% of
    the actual energy estimate stated for most systems.
  • Pec123
    Pec123 Posts: 47 Forumite
    First Anniversary First Post
    Not very good with technology so have provided the basic data. Not sure what questions to ask. What stands out for you?
  • matt_drummer
    matt_drummer Posts: 1,342 Forumite
    First Anniversary First Post Name Dropper
    Your cost is £0.01?
  • QrizB
    QrizB Posts: 13,822 Forumite
    First Anniversary First Post Photogenic Name Dropper
    Your cost is £0.01?
    Pec123 said it was an ECO4 installation, so free of charge to the householder.
    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Taking a break, hope to be back eventually.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • matt_drummer
    matt_drummer Posts: 1,342 Forumite
    First Anniversary First Post Name Dropper
    QrizB said:
    Your cost is £0.01?
    Pec123 said it was an ECO4 installation, so free of charge to the householder.
    Just making sure, more of a rhetorical question really :smile:

    So then, whether you are any good with technology or not, I can't see anything not to like!

    I would be more than happy to accept what I was offered.
  • Qyburn
    Qyburn Posts: 2,296 Forumite
    First Post First Anniversary Name Dropper
    Pec123 said:
    1952 semi detached three bedroom house 116sqm, they will be putting insulation in, coal heating/water with a Rayburn.
    What insulation is being installed? A house from that date might be brick cavity walls, plastered on the hard. Is it a suspended timber floor downstairs, or concrete? Window presumably already replaced from original.
  • Pec123
    Pec123 Posts: 47 Forumite
    First Anniversary First Post
    Qyburn said:
    Pec123 said:
    1952 semi detached three bedroom house 116sqm, they will be putting insulation in, coal heating/water with a Rayburn.
    What insulation is being installed? A house from that date might be brick cavity walls, plastered on the hard. Is it a suspended timber floor downstairs, or concrete? Window presumably already replaced from original.
    I'll have to find out insulation. In the eaves. We already have brick foam filled cavity walls. Suspended timber floor downstairs. Windows already replaced with the vented kind,
  • Pec123
    Pec123 Posts: 47 Forumite
    First Anniversary First Post
    The options we have been given: 

    1. *HIB* Longi HiMo5 400W All Black Mono solar panel 10
    SolaX X1-3.6T 1ph (inc WiFi dongle) inverter 

    2.  Longi 425w white backsheet solar panel 10
    Growatt MIN 3600 TL-X Dual MPPT 1ph (inc DC isolator) inverter

    Which is more valuable?
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