Dutchie
Returns on solar panels are not as lucrative as 2 years ago. Having said that the instillation costs halved when the FIT halved (therein lies a tale). I do believe the FIT was reduced further.
This is a long term commitment and should only really be considered if you plan to stay in your house a fair few years. Depending on good light you are are looking at perhaps 7 to 8 years before you have paid off your investment. Last year was not as good as this year. The payment was guaranteed for 25years, Again I don't know if that has been changed.
They will reduce your electric bill but you have to consider items such as washing machines and dishwashers being used during daylight. They talk in terms of about £150 - £200 saved on you electric bill.
If you have money in the bank earning diddly then its a good consideration but you do not have that lump sum to fall back on if you need it because it's sat on your roof.
If you have a south facing roof that will take 16 panels then you are in the best position to consider fitting.
The other consideration is that the guarantee will expire well before your FIT contract and their is a possibility that something like the inverter could go belly up and need replacing at some stage. I don't know the cost of one of those.
Last edited by: Fullchat on Sat 28 Sep 13 at 21:50
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