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Author Topic: Broke even  (Read 4469 times)
hilltopsolar
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« on: September 04, 2017, 06:31:42 PM »

After 3 months short of 6 years my system has paid itself off.Not including electric produced,I really wish I'd kept previous bills to compare.Feels great to be a little greener too.
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dan_b
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« Reply #1 on: September 04, 2017, 07:45:34 PM »

Nice!
What is your system spec? Guess you're on a good FiT rate?
Making hay from now on!
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3.06kWp SolarEdge system with a split array:
2.18kWp 10x South facing, plus 4x West facing 880W

Mk1 ImmerSUN DHW diverter
4kW PowerVault Battery

Tesla Model 3 Long Range
todthedog
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« Reply #2 on: September 05, 2017, 06:18:13 AM »

Well done great to hear of genuine success.
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Kidwelly South Wales
TheFairway
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« Reply #3 on: September 05, 2017, 08:51:15 AM »

Any idea on how much electicity has been saved?
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mikegally
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« Reply #4 on: September 09, 2017, 10:11:00 PM »

Nice feeling.

Me too, mine paid for itself in June (FIT payments only) after 5years and 9 months......now its all profit.
Only problem is the wife wants to move house in the spring !
 wackoold
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never say never
dimengineer
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« Reply #5 on: September 09, 2017, 11:08:41 PM »

After 3 months short of 6 years my system has paid itself off.Not including electric produced,I really wish I'd kept previous bills to compare.Feels great to be a little greener too.

Can you let us know the spec, the amount its produced and what it cost? When it went in
Anything special about the install?
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21 tube Kloben Panel/250L Megaflow, 1.68kWp Solar PV - 7 x 240W Sanyo Panels. Morso Squirrel WBS
paul149
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« Reply #6 on: September 10, 2017, 10:41:06 PM »

FYI My system ( Details in Footer )reached ROI, Broke Even, Achieved Payback on 29/5/2017 (17;35 Exactly). this is the point when the FIT payments from the kWh's produced equalled the cost of the install.

install Date;      01/12/2011          
install cost;       9100.00 ( Maintainance cost's to date: ZERO )

 Fit payments recieved upto 17 March 2017 (MR=17680.30 kWh) = 8,700.00*
                                        kWh Produced From 17 Mar to achieve 400.00 = 740.20 kWh   (400.00 / 0.5404p )
                                                                                           ---------
                                                                                        9,100.00

So 740.2 added to 17680.3 = 18605.54 kWh and this was reached at 17:35 on Mon 29 May 2017.
So My ROI has taken 5 Years, 5 Months & 29 Days.

Cheers Paul M.
Note * this is an exact round figure because every year my last meter read is timed and calculated to make it a 'nice' round amount!
See PDF link below for example.

* Fit Payments Years 1 to 5.pdf (42.34 KB - downloaded 73 times.)
« Last Edit: September 11, 2017, 09:14:30 AM by paul149 » Logged

3.5 kWp (14 x Sanyo H250E01 + SB3000TL) 225' (SW) at 35' Pitch Lat 51.30' (Bristol) Installed cost 2.63/Wp (Nov 2011) now with solarimmersion and 250L unvented dhw (Almost Zero gas input for DHW from Apr to mid Sep)
Ralpharoo
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« Reply #7 on: September 11, 2017, 01:27:11 PM »

 "kWh Produced From 17 Mar to achieve 400.00 = 740.20 kWh   (400.00 / 0.5404p )"

Paul149,

Could I suggest that the above is edited to:

"...400 = 762.49kWh (400 / 0.5246)"?

the export payment in the FIT is based on 50% of the generation.

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3.92 kWp south facing. north west Cumbria
dan_b
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« Reply #8 on: September 11, 2017, 02:18:21 PM »

Those 50p FiT rates are good though aren't they!
I got mine installed in Nov 2012 by which time the FiT was significantly lower. My break-even point won't be for a while yet, probably another 5 years. Although I enjoyed paying in my FiT cheque today.
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3.06kWp SolarEdge system with a split array:
2.18kWp 10x South facing, plus 4x West facing 880W

Mk1 ImmerSUN DHW diverter
4kW PowerVault Battery

Tesla Model 3 Long Range
JohnS
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« Reply #9 on: September 11, 2017, 04:12:02 PM »

Yes, the old FIT rates are good.  But for some early adopters, like me, we needed them for it to make financial sense.

I was one of the last to get the 2,500 grant and also be eligible for FIT. Net of the grant the cost was 10,000 and by the end of this month I should have earned 7,000 baring no sunshine after 7 1/2 years.

It was those who installed towards the end of the ~50p FIT who have done well.  Their success is nothing to do with efficient systems and all to do with good timing.

John
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2.1kWp solar PV  PHEV West London
Ralpharoo
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« Reply #10 on: December 04, 2017, 09:17:31 AM »

Six years and 38 days and I have paid back the initial investment (taking into account savings from lower energy bills, and lost interest on the investment). 
extrahappy Cool extrahappy Cool extrahappy

Not too bad for West Cumbria - 22.94MWh generated
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3.92 kWp south facing. north west Cumbria
DonL
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« Reply #11 on: December 18, 2017, 09:17:23 AM »

A wet miserable day so I decided I needed a nice spreadsheet. I dug out the paperwork to see how my three PV systems were doing financially:
System 1 - 2.8kWp - February 2010 - Initial FIT rate 41.2p - amount paid back 86%.
System 2 - 4.2kWp - April 2011 - Initial FIT rate 37.8p - amount paid back 87%.
System 3 - 42.7 kWp - January 14 - Initial FIT rate 12.6p - amount paid back 47%
None of them were installed during that sweet spot when prices had dropped but the government couldn't change the FIT rate.
Rather to my surprise, they are all showing a similar return on investment with a simplified payback of between 7 and 9 years. The earliest one, on the highest FIT rate is actually the least good. The big ground mount system, despite paying for a new transformer, and the much lower FIT rate, is doing just as well as the others.

So all good news and excellent investments, particularly when compared with 2% on savings. Also it shows the massive fall in costs over the period from over 4000/kWp to around 1500/kWp more or less matches the change in FIT rate for the three systems.

Don
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Schuco solar hot water - 3300kWh/annum, 16 BP 4175N PV panels - 2.8kWp, log burner and back boiler and 18 Ying Li 235 PV panels - 4.2kWp, 42kW ground mount PV, 9kW Panasonic ASHP, 40kWh Nissan Leaf
Smiley Boy
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« Reply #12 on: January 03, 2018, 02:20:45 PM »

I paid 10,150 28th Feb, 2012.  And receive 50.67p/kWh currently.
To get the 10,150 back took 4.5 years.  But if you assume an optomistic 3% return on the money alone, then it is 5.5 years.
To date I have generated 22318kWh
This excludes any electricity savings.  I think I use abour 4550kWh per year of which 2750kWh are drawn from the grid.
I divert "spare" electricty to heat hot water, that saves me using oil.
I think you should also factor in 1000 plus for a new inverter at 10-12 years
So a good investment all round
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4kW PV (16 x 250W Hyundai black mono panels, Sunny Boy 4000TL-20, Sunny Beam) south, 45deg slope bungalow, Pershore, WORCS.  Solic 200 diverter. Electricity use 2600kWh/y.  Worcester oil boiler - 1500L oil/y.  300mm loft & cavity wall insulation.  Triple glazed 0.7u. UltraFrame Livin roof system
paul149
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« Reply #13 on: January 03, 2018, 08:47:30 PM »

""I Think you should also factor in 1000 plus for a new inverter at 10-12 years""
A bag of sand!!!! Keep an eye on Fleabay (wanted item) as I got a SMA 3600 TL last summer for 150, used but only clocked up about 6MW so should come in handy at some point in the future!
Paul m.
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3.5 kWp (14 x Sanyo H250E01 + SB3000TL) 225' (SW) at 35' Pitch Lat 51.30' (Bristol) Installed cost 2.63/Wp (Nov 2011) now with solarimmersion and 250L unvented dhw (Almost Zero gas input for DHW from Apr to mid Sep)
M
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« Reply #14 on: January 04, 2018, 08:32:43 AM »

My ESE system with upgrades won't break even till mid 2021(ish), which is fine with me, especially as my WNW won't break even till around 2026.
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Just call me Mart.     Cardiff: 5.58kWp PV - (3.58kWp SE3500 + 2kWp SE2200 WNW)
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