Solar PV System Ordered

A salesman came round last week to quote for a PV system on our roof.

Our roof is not a simple rectangle. there are 3 south-facing surfaces we could use and 2 of them are triangular so calculating how many panels we could fit was not at all easy.

Eventually, after a couple of hours, they came p with a quote for a 10 panel system at 1.8kWp. We want as much generation capability as possible so we agreed on a price of £10,200 for a 10 panel 2.4kWp system split into 3 areas of 3+3+4.

We are still wondering if we can fit even more panels but at the moment that is the system we have ordered.

Using the figures from the various calculators on the web we reckon that will generate approximately 2360kWh over a year on average. That is about 50% of what we use although matching our demand vs generation is not going to be easy and we will still probably end up exporting a lot of that. Nevertheless, this makes the finacials look like this:

Est. Generated                                         2160 kWh
Est Feed in Tariff payment  @ 41.3p   £974
50% export @ 3p                                     £35
Saving on electricity bill @25%              £130

Total saving per year                              £1140
Time to repay capital costs                    8.9 years
Yearly earnings in years 9-25               £1140 indexed linked to RPI and tax free
Total Est. Earnings (compounded)       £51,000

It is a complete “no-brainer”. Where else can you get a flat rate of about 10% on your investment guaranteed for 25 years and RPI linked tax free?

If you have a suitable property and the spare cash then you must install a PV system and as big as your property and budget allows (up to 4kW). Be quick though because the FIT rate per KWh will fall once the government has reached their target and in any case in April 2012. The early adopters will benefit… not just now but for the entire 25 years of the FIT guaranteed period.

The good thing is that when you sell the house you cn either sell the PV system with it or sell the house without the PV system with you retaining ownership. The new owner can then benefit from reduced electricity bills whilst you retain the FIT payments… in our case of over £1000pa.

Clever or what?

Next step is getting an installation date.

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