Energy Prices in the UK Rising Again, Should You Get Solar Panels?? 2 Year Review

[@BestEDMSongs]

What a lot of people don't fully understand is this, If Selling Your Home, Adding solar will increase your home value, if you can prove you home elec bills are say 40% lower (example) this would increase the value of the property by 20% and also sale ability, In the UK this will reflect in the EPC will selling, But even if your don't plan to sell your home it's lower bills, So it's win win, Some tip here, Try to buy your system in full with no loan and also try to get as many panels as you can

[@HolyTrinityTreasurer]

Hi, been offline awhile. I have a very similiar system to you installed by the same company. 5.8 kw panels facing 150 degrees from North with a 5.0kwh Puredrive battery, installed 20/12/22, in Norwich. Despite having a larger system, my generation numbers are very similiar . 2023 4.9 mwh, 2024 3.7mwh. You are doing really well as I think your generation is 10% greater than forecasted whilst mine is 10% less. Also agree this year has been disappointing as generating 10% less than last year. Averages approx pm , usuage 370kwh, generation 480kwh , exported 330kwh, imported 220kwh. Based upon, import rate 25p kwh, export rate 15p kwh, import rate off peak 15p kwh,, currently my average cost per kwh is nil. This will become worse as we enter winter. I am finding your videos very usefull, thanks. Looking forward to how you get on with a heat pump.

[@robynrox]

That's really good info for comparison. I'm in Cardiff. I have a similar solar system and the meter says has generated 9082 kWh so far; I think it generated 4400 kWh in the first year and 4000 kWh in the second year. It was installed in July 2022. I have a 4.7kWp solar system but only a 3.6kW inverter (maximum allowed under G98; I had already used my G99 up with a two-way EVSE charger). It cost me about £5700. I don't have exact figures but I've been on Octopus Flux for most of that time and if we assume that that's worth 15p/kWh (some will be higher because some generation occurs during the peak rate), that's £660 per year. So it's a very decent return so far, and it's good for the planet. I have investments in the stock market too (in my pension), and they never perform that well, plus the system will always generate electricity unless the inverter goes wrong which is a relatively cheap replacement (I think around £800). So I would argue it's lower risk than the stock market and higher returns from a purely financial point of view unless you're really good at the stock market game. (Yes, I know the S&P 500 may have done better but there was probably more risk in that.)

[@drchrisjbarnettgreentech]

@@robynrox i released a video this morning with a simple calculation of minimum pay back. If you have 2 way EV charge, do you have a battery

[@robynrox]

@@drchrisjbarnettgreentech It is only the car's battery that I have (it's a Wallbox Quasar going to a Nissan Leaf; I have it because I took part in a trial and I bought the hardware at the end of the trial); I don't have a conventional Givenergy or Tesla Powerwall or anything similar. Through using that, I've been able to generate some extra money with Octopus Flux by charging in the cheap rate and a little off solar and discharging in the peak rate period; I'd estimate that to be around £150 per year. Most people don't have anything like that though and it's no longer available, so I excluded it from my calculation above.

[@nickwinn7812]

Energy prices are on the rise whilst solar panel and battery prices are falling. If you have a roof space or anywhere to mount solar panels, regardless of their orientation, solar panels make sense.

[@rodden1953]

I went for a heat pump with Air to Air it was only 5k and simple to install only taking a day and a half , i have 2 Powerwalls and live alone , it was talking to Nigel from The EV puzzle that made me go with that system. I'm still on the Octopus standard rate as im not drawing anything from the grid at the moment so now i will have to find out the best tariff for me this winter . i am still getting the old FIT payments and not sure if i can have FIT with some of the tariffs .

[@drchrisjbarnettgreentech]

@@rodden1953 i thought about air to air but our house has a strange layout so getting the units where we would want then would be difficult especially if we want to hide the piping, though the air conditioning would be nice for the when we do have summer here in Swansea. With the FIT tariffs you are probably limited to import tariffs only. If you have and EV or plug in hybrid then go would probably be the best tariff

[@rodden1953]

@@drchrisjbarnettgreentech Have you seen Nigel's videos on Air to Air im very pleased with it so far. i have an EV and so far i have used the sun to charge it from the Zappi charger . i did look at Go but i think i need to talk to someone from Octopus before October. Helpful videos BTW

[@drchrisjbarnettgreentech]

@@rodden1953 i follow the PV puzzle channel, that why i looked at air to air.

[@rodden1953]

@@drchrisjbarnettgreentech Yes he is good , it was because him and bjorn nyland i got a Kona

[@eimaass]

Hi mate. When you talk about ROI do you include inflation to what you initially paid? I know energy price goes up but same as inflation. For example £8,500 in 2022 is equivalent in purchasing power to about £9,456.06 today, an increase of £956.06 over 2 years. The pound had an average inflation rate of 5.47% per year between 2022 and today, producing a cumulative price increase of 11.25%. So your payback my be even longer.

[@drchrisjbarnettgreentech]

@@eimaass its always difficult to try and work out payback. For this video i just calculate based on when I'll have £8500 back in the bank. In the past i did some videos I did some calculations based on what would happen if i put the money in a saving account with different interested rates and if there was varying inflation and also taking off what i would have to pay for electricity. Also it what inflation do you take into account food and energy has gone up, but batteries and solar panel have gone done. Also do you take into account that i now own an asset which in theory i could sell, or what happens if i sell the house, has the panels add value.

[@roblinc2u]

Very interesting stats, how does your actual generation compare with the estimated annual generation on your mcs certificate?

[@drchrisjbarnettgreentech]

@@roblinc2u not cure what MCS cert says, but the estimate we had when we bought it came out as 4000-4500 per year.

[@robbenson4598]

Would you agree that looking purely at ROI it doesn't make sense to have solar panels and battery, just a battery, due to favourable tariffs?

[@drchrisjbarnettgreentech]

@@robbenson4598 if you have a ideal roof and can fit lots of panels, then i don't think there will be much difference between having both or just having a battery. With just a battery, for example if you can move 10KWH to a lower tarriff (say 7p instead of 23p per kwh) then you save £1.60 per day or just under £600 a year and you export 3KWH at a high rate than you import then you would porbly be up at £750 per year. GIV energy all in one is about £7000 including install. So still 8-9 on payback. If you also have a heat pump or electric heating then a battery only might make more

[@roblinc2u]

@@robbenson4598 like so many things in life, it depends on your circumstances. I have a battery and solar panels and I intend to get more solar panels.

[@peterjones6322]

You have an error in your text. You show total Export when you mean total Import of £202

[@drchrisjbarnettgreentech]

well spotted

[@JithinJose2]

Or let’s say it differently: Energy prices are rising, to make everyone spend money on solar.

[@nickwinn7812]

Energy prices are rising because UK governments, over decades, have failed to enact an effective energy program, aided by the great British public who always object to any development near them, whist expecting to have unlimited, low cost energy. No conspiracy, just universal stupidity.