Friday, 22 July 2022

Solar update

Our current electricity rate is about 15 pence per kWh, ignoring the daily standing charge.

The solar array cost us £13,000.

Therefore once the solar array has produced 13,000 / 0.15 = 86,700 kWh (86.7 mWh) it will have paid for itself.

It's cloudy today.

28 months after installation the array has produced 35.85 mWh, or 41% of target, suggesting that, in a further 40 months time, pay back will have been made in full (in a total of 5.7 years). 

Of course, this doesn't take into account the fact that the current rate of £0.15/kWh will at least double when our pre-crisis contract runs out early in 2023. If we factor this in payback will be achieved in 25 months time, a total of 53 months (4.4 years) from installation.

These are 20 year panels, giving us 15.6 years of totally free electricity, and given the present direction of travel, that is going to be worth a substantial amount of savings.

One of our better investment decisions.

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