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Friday, 23 December 2011

Solar PV update from Don


Dear All,

Just a quick note based on an article in the Independent on the 18th of December "The sun hasn't yet set on domestic solar energy".

The FIT has been reduced to 21p/kWhr and this obviously reduces the return on PV but is it still attractive?

Prices for PV installations have dropped massively over the last 18 months to the level that, before the change to the FIT, you could purchase a 4 kWp system for under £10k.

I spoke to one of the local installers and he said that he would be selling a 4kWp system for £8k in the new year.

If you have not yet taken the plunge and have a suitable south facing roof and can obtain this price level, the rough figures, based on results to date, work out at:

Annual income FIT 4000 kWh* £0.21 = £840
Annual income deemed export 2000kWh * £0.031 = £62
Total Annual Income = £902

So based on a capital cost of £8000 (If achievable), the return on investment is over 11% and the simplified payback under 9 years.

If you bear in mind that this is tax free, linked to RPI and guaranteed for 25 years its not to be sniffed at.

A system like this will also offset more than 2T/year of CO2 emissions and contribute a little bit towards controlling global warming.

Parish wide, we now have 12 installations that I know of with a combined capacity of 46kWp offsetting 25T/year of CO2. Our work on the Parish Hall helped lead to the new installation you will have seen on Welland Village Hall.

Merry Christmas

Don

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