Is it woth?

[Berneray]

Sedgy is right....people have been borrowing their own money for hundreds of years. Most cars are bought on finance despite what people have in the bank....I spent 20 years in the Royal Bank lending people their own money.....

Typical car loan situation. You might have say £8k in the bank. You need to change your car and see one you like for say £10K. Monthly payments over 4 years £180. So because you are comfortable with £180 a month you take the finance leaving you with the comfort of knowing you still have a safety net in the bank...

That car you bought for £10k is then worth £9k as you drive it away and with front ended interest you suddenly have a loan of £14K for an asset valued at £9K....Does it make sense ...no...but thousand of people do this every day in car showrooms across the country..]

Contrast that with borrowing for pv solar....Say a 4kpw system for £7k. EST will do £4k interest free loans payable over 8 years...monthly cost £41. Use that to finance £4k of the cost and use then need only £3k of your own money. FIT will average out at approx £52 per month. So that alone covers the cost of borrowing....

And then you have your free electricity....

Still a no brainer.....

 

[Eco Deal]

Dave you might not get it on the green deal , it will have to be mostly funded by yourself or if your in fuel poverty ECO might fund it but not sure the golden rule will never be met for solar panels yet.

Im also very keen on getting solar pv not for FIT but for free elec in the day and help save on the bill, waiting to see if it is cheeper for me to buy it on the new green deal or i might buy a 2.5kw system and fit it up for free. have had a look at the cost and for materials only and its not bad price. Would this be good todo or would I be better keeping the money in the bank for the bills

 

[Eco Deal]

We have worked on a loan model ,

if you have a 4kwp south facing

you can get a loan for the system
pay it back over a 5 year term

the fits / export & fuel bill saving pay most of the loan in the first 5 years ,
then once your loan is paid and you get the money back you chiped in to pay it off in 5 years.

you have aroud 10k over the next 20 years to look forward to

year 5-20 fits export and fuel bill saving
year 20 -25 fits stops so export and fuel bill savings

I dont see why our calculations should stop at 20 years when we have been using 25 for the last 3 years as thats like saying the system wont work after 20 years as it clearly will,

so we include year 20-25 in export (4.5p) and fuel bill saving (13p)

 

[rare breed]

There is another factor if you have a green mortgage like a retrofit or c-change from the likes of the Ecology Building Society; Sustainable mortgages and ethical savings - Ecology Building Society you might get a reduction in your mortgage rate making it more worthwhile.

 

[davetherave1979]

thanks for this info all i realy care about is genarating free electricity, not worried about the fit that much. im a sparks by trade and could fit the system i think, with out 2 much problem. I have got a price for a 2.5kw system at a great price so I could just connected it up to my supply with out telling the supply company and be able to use free elec in the day time am i right.

 

[moggy1968]

get yourself a good solicitor then!

 

[davetherave1979]

so is it a no that i dont fit them my self then

 

[whinmoor]

I think you need to do a bit of paperwork to avoid a potential knock on your door. Imagine if everyone went ahead and pumped juice into the grid at will....

Better still, get someone who knows what they are doing to do it for you so they carry the can.

 

[moggy1968]

so is it a no that i dont fit them my self then

It's a yes that you don't fit them yourself!

so says the pedant:wink5:

 

[leexgx]

don't see much point in Paying to have an PV system if your not interested in getting the FIT payments (you get the money even if you use all the currently been Generated power by the PV system)

you may had just get an Free PV system installed on your roof as an number of company's do it for free (if roof is suitable as think most will only fit on perfect roofs now due to Free PV installers getting 50% rate i think if they have installed more then 25 pv installs)

 

[finchy]

if you model the returns and assume RPI at 2.5% and energy inflation at 4% (conservative estimates). As MEP says just take the savings and export from 21yr-25yr. I dont show this to our customers as there are too many variables but the broad estimates show its fantastic ! The returns over 25 years will be :

[TABLE="width: 451"]
[TR]
[TD]Total Return[/TD]
[TD] £ 26,995.75 [/TD]
[/TR]
[TR]
[TD]Total Investment[/TD]
[TD="align: right"]£ 6822.38[/TD]
[/TR]
[TR]
[TD]Real Profit[/TD]
[TD] £ 20,173.38 [/TD]
[/TR]
[TR]
[TD] [/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Real Return on Investment[/TD]
[TD="align: right"]396%[/TD]
[/TR]
[/TABLE]

 

[stef]

Lots of great installers on here, let us know where abouts in the country you are and some of the local companies can quote you

I live in Gosport, Hampshire. But like I said this is early staege yet, so I just want a rough idea how much it would cost and how much work is involved. So,yes, if any of you solar guys could geive me a rough idea, please do so.

 

[FB.]

if you model the returns and assume RPI at 2.5% and energy inflation at 4% (conservative estimates). As MEP says just take the savings and export from 21yr-25yr. I dont show this to our customers as there are too many variables but the broad estimates show its fantastic ! The returns over 25 years will be :

[TABLE="width: 451"]
[TR]
[TD]Total Return
[/TD]
[TD] £ 26,995.75
[/TD]
[/TR]
[TR]
[TD]Total Investment
[/TD]
[TD="align: right"]£ 6822.38
[/TD]
[/TR]
[TR]
[TD]Real Profit
[/TD]
[TD] £ 20,173.38
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Real Return on Investment
[/TD]
[TD="align: right"]396%
[/TD]
[/TR]
[/TABLE]

Which amounts to 4.4% per year.

 

[jerriais]

Hi Stef,

We're based in Winchester but have installed in Gosport and around that area. Please feel free to get in touch if you have questions regarding pricing etc.

Matt