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22-08-11, 05:01 PM | #21 |
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Re: Solar panels
At your age Mike, you might have been better off making a (tax free) £15k contribution to your retirement fund.
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22-08-11, 05:03 PM | #22 |
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Re: Solar panels
what is it that you want to know? I'll do my best to answer.
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22-08-11, 05:05 PM | #23 |
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Re: Solar panels
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22-08-11, 05:16 PM | #24 |
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Re: Solar panels
Just yanking your chain matey...
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22-08-11, 05:29 PM | #25 | |
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Re: Solar panels
Quote:
Currently NS&I will give you RPI+0.5% tax free on much smaller amounts. But ok, I'm referring to the presentation I attended. They relied on the flakey concept that once the feed in had returned your capital, (and there are risks obviously involved, such as panel failure, change of heart from a new government) it was all profit. |
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22-08-11, 05:43 PM | #26 | |
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Re: Solar panels
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What it doesnt give you though is protection against the rising cost of energy, the faster the prices rise (12% from eON only the other week) then the closer the solar payback period gets. Our own estimates show that our system will have paid for itself in just over 9 years assuming a modest energy price increase over the full period. I certainly wouldn't rate a contracted scheme as flakey, its actually a bloody good deal to stimulate the adoption of this technology. The FIT is a contract so I assume that if a future government where daft enough to go against the previous agreements already made under that contract then they would be legally exposed to providing some form of compensation, never say never I guess but I would consider that extremely unlikely to happen. The FIT payments are guaranteed for 25 years and are also index linked. The solar panels themselves are also under guarantee to provide a predictable output throughout their lifespan. Failed panels appear to be rare outside of any accidental damage and can be easily replaced if necessary. From my own calculations and every other source of information I could find when I was researching this, everything points to it being a very sound investment. If the performance I've experienced so far is anything to go by then its going to save me a huge amount on my electricity bill, since I returned home on Friday my meter now reads 4 units less than it did. That's 4 days of free electricity in effect, in a large house with our washing machine going practically non-stop today. Anyway, its totally your choice. Just wanted to share my own experiences. |
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22-08-11, 05:59 PM | #27 |
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Re: Solar panels
I'm trying to be convinced. I accept that electricity charges will rise, probably by more than inflation for the foreseeable future.
Your own statement saying it will have paid for itself in 9 years - is that just the capital return, or what the capital would have been worth invested? Its all early days for me. It will fall in price - for instance the inverters can be retro fitted for more efficient and power factor corrected versions for considerably less than the fitters charge, the PV panels' efficiency will creep up. Against all that the feed in tarriff, whilst guarrenteed for yourself, will not be so generous in the future. As an aside, what is to stop you buying the electric at 13p and feeding it back as simulated solar generated at 44p? |
22-08-11, 06:10 PM | #28 |
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Re: Solar panels
Paying for itself in 9 years, that's all I needed to know matey. Will have a look into it properly when I get a chance!
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22-08-11, 06:12 PM | #29 | |||
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Re: Solar panels
Quote:
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Last edited by flymo; 22-08-11 at 06:14 PM. |
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22-08-11, 06:19 PM | #30 | |
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Re: Solar panels
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