Solar Panel installations

[DIYspanner]

Are they worth the expense?

Had a phone call earlier this week for an offer of a free survey to have solar panels installed.

I understand an installation would cost thousands so how many years before you get your money back?

 

[winston1]

Many have been falsely sold and people are now claiming compensation for mis selling in the same way banks miss sold PPI.

The heyday of solar panels ended over a year ago when the government halved the FIT (feed in tariff). It has since been reduced again.

But a free survey won't cost anything. Just don't be pressurised into signing anything straight away. Remember extra discounts for signing immediately can always be negotiated back at a later date if you want to go ahead.

 

[jacmurphy]

My friend is more than happy with hers. She had them installed over a year ago now. She runs a business from home (sewing) so is using a fair bit of electricity during the day. This is key now as you can only use the electricity you produce during the day. Once the sun goes down you revert back to using it from the grid

 

[flameport]

Even with the massive subsidy, the economics were questionable.
Without the subsidy, they are a total bust.

Finances aside, they generate lots of electricity when most people don't want it and can't use it.

Those who have paid vast sums to have them installed will obviously say they are fantastic / saved huge sums / best things ever / excellent investment / etc.
Everyone else can see exactly what they are.
Rather like $10000 power cables made from solid platinum that improve the sound from your audio equipment.

 

[bernardgreen]

Those who have paid vast sums to have them installed will obviously say they are fantastic / saved huge sums / best things ever / excellent investment / etc.

As does an aquaintance of mine. Though he has now admitted that pay back will be over 40 years, when he is over a 100 years old, and the panels may not last that long.

Also they can be a big negative when selling your house, not all buyers want the "benefits" of solar panels.

And NEVER rent roof space to a company that installs them and pays you some of the income. That makes selling the house near impossible.

 

[Lectrician]

My friend is more than happy with hers. She had them installed over a year ago now. She runs a business from home (sewing) so is using a fair bit of electricity during the day. This is key now as you can only use the electricity you produce during the day. Once the sun goes down you revert back to using it from the grid

It's not the free power that makes them worth their while, it's the FITs payments. You get paid a unit rate for generating each unit, regardless of if you use it or export it.

 

[winston1]

As I said in post 2 the FIT has been halved and then reduced even more. Most of the "sprung up overnight" companies quit at this point. And remember the FIT is not paid by the government it is paid by the electricity companies and passed on to everyone else in higher bills.

Ever wondered why electricity is 3 times the cost of gas per kW hour?

 

[Lectrician]

Yes, and your point is what? I said it's not worth while without the FITs incentive. It's not just because "you iron and sew at home".

Regardless of the drop off in FITs payments, it still would not be worthwhile without them.

Well done for pointing this out in post 2. A pat on the back for you.

 

[winston1]

No need to be sarcastic. I don't like having to spoon feed you, but my point is it is not worthwhile with the reduced FIT. It has already been pointed out that the payback time is over 40 years so anyone over 40 need not bother. Those under 40 generally have big mortgages etc and little disposable income so that rules them out as well.

 

[Lectrician]

Your posts are just as sarcastic, although not intended. Which is worse.

My point had nothing to do with if it is worth while to install or not, simply stating that the comment about using lecky during the day as they work at home is not where the benefit would be for that person.

I don't need spoon feeding either thanks, and the fact you feel need to is laughable. I do not need you advising me at all, with all due respect.

 

[stillp]

People who sell these things often compare the FIT payments as a percentage of the capital cost, with the rate of interest on an investment account. However they conveniently don't point out that you can usually get your money back out of an investment account - you won't get the cost of a PV installation back.

 

[Norcon]

For people who can diy, solar is well worth while.
Forget government subsidies.

 

[DIYspanner]

I appreciate the reply postings to my question folks, many thanks.


The government funded installations no longer exist as far as I aware.

For an 8-12 PV panel installation what would be the likely cost?



I did once hear on the Dragons' Den program, stated by one of the panel who was involved with a PV company that "a PV panel installation was a better return for your money than a savings account".

 

[stillp]

DIYspanner, that's just what I meant! You can usually get your money out of a savings account, but you won't be able to sell your solar panels for anything like their cost.

 

[Norcon]

DIYspanner, that's just what I meant! You can usually get your money out of a savings account, but you won't be able to sell your solar panels for anything like their cost.

Why would you want to sell your solar panels when they are generating electric?

Guy we are working for has just commissioned a 20kw system for £25k and is selling to the grid.
That means all his own electric is free. So he's saving at least £2k per year. And that's not even counting the rocs.

What banking investment is available that will earn £2k per year on £25k?