Solar installation may be costly and out of the reach of many in these tight times, but what if you could have solar which was pay monthly and was paid off in one year?
Having solar can really reduce your power bills and allow you to have some freed up cash. But we have been running the numbers and trying to make some thing work where you are not out of pocket.
RenewSolar have always had a short ROI and aims for a 4 years ROI on full installations, with micro solar we aim to ROI within the year.
ROI what?
Return on Investment, basically when you buy solar, the costs you pay out should cover the cost within a time frame. That’s basically a break even price so you are back at zero and anything past that point becomes a saving.
Trying to make solar affordable and good value is difficult, there are costs in the installation which can more than double the cost of solar. Some off set here is where the client carries out the install, but there are risks with this approach as well as those who wont want to climb on to a roof and have the tools or skills to install solar panel mounting systems.
Work arounds
Trying to work solutions to problems is not easy.
We think A frames may be a better option to mount solar panels. on surfaces or roofs, such as the garage.
To give you an example here, tubs £120, A frame £40, Hook and rails £82.
The electrical connection is difficult in the UK and we have touched on this in various posts but without “plug and play” for many this becomes an issue and cost. To deal with this we have our gen port and the protection units which complies with regulations for dual source.
The inverter and solar panels are plug and play themselves, it is just the wiring and AC side that is a burden for many. but if you can wire a plug and socket, then your part the way there.
Do we offer installation as a service?
I would think that AC side installation as a service would be a must have service, but this will not be pay monthly. The DC (solar) installation is safe and simple, its just placing the solar panels.
When is the best time to install?
Installing solar should be from the end of February. The reason being that the solar install should cover its costs. You wont save much if any over your repayment period, but you should be not paying any more than you do with your current bill. what you will save in power will be about the same you will pay. That’s £43.33 per month.
Therefore installing when the sun will make the saving is the best time; making it appear free for most of the year.
How long with the system last?
If you have paid for the system in one year, then your hardware should last another ten years, the inverter has a 10 year warranty, the panels 25 years. You should save around £3,207 over the life time of the system.
NOTE: You only save what you use.
This is grid tied solar, therefore you will save money when you use the power your solar produces, namely during the day. regardless of what you make if you are not using that power, it will flow to the grid for free. if you have small loads during the day, then much of the power made wont be used. There is no battery, so you wont save by using power over night. ROI times will vary from user to user.
Will there be a bigger pay monthly solar installations?
Maybe. But the pricing will be different, I would imaging that the down payment will be around £1500-£2000 and then low monthly payments. We would aim to recover the costs from the savings you can make. so it would appear as a zero system until it is paid off.
Look for Pay Monthly tags below for more information.
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