PV Feed In Tariff

Gerry

I understand how financing works, thanks. Normally if there is an option to finance, there is a stated interest fee. If there isnt and the cost is passed on to the consumer, you can assume that this cost may be higher than other suppliers.

I'm yet to find that this is the case here. And the facts you've used to try to make your point about expense, are incorrect.

Gerry

https://www.boards.ie/discussion/comment/119469751#Comment_119469751

The initial price is not 3540, more like 5750.

unkel

https://www.boards.ie/discussion/comment/119469606#Comment_119469606

OK I browsed the last 10 pages or so of the quote thread and the consensus from forum regulars and moderators seems to be that about €1200 per kwp for a basic system installed is the norm / target at the moment (after grant). So for a 2.4kwp system this would be 2.4 * 1200 = €2880

That makes the APR roughly a bit under 4%. Which is very reasonable.

Simplistic APR calculation to get a ballpark figure: loan 3540 paid back over 10 years so average outstanding loan is 3540 / 2 = 1770, cost of credit is 3540-2880 = 660 or 66 per year, 66/1770 = 3.7%

Bobeagleburger

Are you allowed to pay a SAAS in full upfront?

Gerry

https://www.boards.ie/discussion/comment/119469790#Comment_119469790

yeah, still reasonable compared to other quotes. But what if it was a 3kw system, for 3450 total, which comes in under the 1200 supposed golden rule, even with some assumed cost of credit. I'm still puzzled as to how such a system is expensive..

Alkers

When the SAAS price.went from 20 to 30e per month, the system size also increased from 2.4kW to I think 2.7kW and they typically throw in an extra panel also.

We got 2.5kW for 20e per month

irishchris

Yep got 2.56kw for 20 a month here also. Paid an extra 300 for an extra 320w panel. Great value at the time.

Obviously then learned from this and did a self install of another 6 kw system. Better value with the self install system obviously but saas was a close second.

the_amazing_raisin

https://www.boards.ie/discussion/comment/119470201#Comment_119470201

What kind of monthly savings would you be getting with a system like that? I mean if it's less than €30 per month then SaaS doesn't seem to be worthwhile

unkel

€20 per month for a 2.5kwp system is cheap alright at €2400 in total, so less than €1000 per kwp

But to put things into perspective, for less money I installed a 4.5kwp system myself last year though

bullit_dodger

You also have to look at the long term picture. Even if savings don't match or exceed the repayments (they probably will) you have to remember that in 10 years or so that system will be yours and from then on, you'd be generating "total savings". That's very appealing. Not only will you help your pocket, but you'll be helping reduce your CO2 footprint for decades.

Saas is about the best value for money that I've seen for the lower tier installations.... the 3-4Kwp without battery. Where I think it doesn't help the low income, social welfare or OAP's is that often they might not qualify for the credit. I don't know this for a fact, I'm speculating there. Saas makes total sense to me to install. I can't see any reason why a household wouldn't do it.......other than the obvious physical limitations which may make your house unsuitable, such as odd roof layouts etc.

Which leads me to wonder why now esp with FIT payments why we don't have even more uptake than we have.

Puzzled.

silver_sky

https://www.boards.ie/discussion/comment/119473196#Comment_119473196

People generally don't look at total cost of ownership - merely the upfront cost.

the_amazing_raisin

https://www.boards.ie/discussion/comment/119473196#Comment_119473196

There's still a lot of BS out there about solar, people won't get it because they look at a 10 year payback and say it isn't worth it

It's like insulating houses, there's basically no scenario where it doesn't pay for itself and also makes for a much more comfortable environment, but there's still a massive number of houses out there with no insulation in the walls

Irish people are great at complaining about their problems but we're pretty rubbish at actually fixing anything

bullit_dodger

+1 on that mate

Alkers

https://www.boards.ie/discussion/comment/119472219#Comment_119472219

Last year our system produced 2,665kWh. For arguments sake, if I used no electricity myself and exported it all to grid with the FIT at 9c per unit, I would almost exactly brake even. Any improvement in FIT or obviously any self use of electricity (I wfh three days per week) will add to those savings. We've also moved to a day night meter with the PV offsetting the higher daytime rate and we charge our PHEV on nightrate.

I would say we are about breakeven point for the year without the FIT but fit makes us quids in as in the system saves us more than it costs us.

slave1

https://www.boards.ie/discussion/comment/119473451#Comment_119473451

Agreed, I'm amazed folk turn down a 10yr payback (setting non-financials to one side), hard to see a better guaranteed return on your investment, complete financial no-brainer

bullit_dodger

Agreed slave - we've seen a good few people on the quotes forum turn their nose up at 10 year payback as "nahh, too long". My own installation will be 6-7 years but I'm an unusual consumer. It's hard to understand their thinking, but I guess it takes all sorts.

The whole FIT thing really will improve that payback timeline, dropping it by 1-2 years on average by my reckoning. (Assuming that the suppliers aren't twonks and recoup that "loss" from their side with crazy standing charges etc. I would hope not, the solar installations are only 1% or so of the total household, so it shouldn't penalize them too much.

Citizen Six

Contractor came out to install my smart meter. Dropped a pliers on his ipad, and had to cancel the installation and reconnect the old meter again. 🤣

unkel

Particularly in this day and age where it seems any other way of using your money is going to crap. Stock market is sh1t (and thus so is investing in pensions), you get zero return on savings / deposit accounts, crypto is in a bear market, even classic cars, luxury watches and precious metals are not doing well.

slave1

Mattress it is!!

SD_DRACULA

https://www.boards.ie/discussion/comment/119475101#Comment_119475101

Blessing in disguise 😂

Get a d/n meter instead.

Citizen Six

https://www.boards.ie/discussion/comment/119475344#Comment_119475344

Don't have a choice at this stage, if I want to get the feed in tariff.

https://www.boards.ie/discussion/comment/119475246#Comment_119475246

Cash is depreciating due to inflation

Jonathan

Energia paying 19.62c/kWh (inc VAT).

https://www.energia.ie/cosy-homes/energia-clean-export-guarantee-scheme

con747

It's starting to get interesting now with some of the rates, who's left now just Bord Gáis?

graememk

https://www.boards.ie/discussion/comment/119486578#Comment_119486578

Makes the EV tariff for me then perfect.

the_amazing_raisin

https://www.boards.ie/discussion/comment/119486578#Comment_119486578

And no BS like needing a special battery, I'm sold 😁

Jonathan

https://www.boards.ie/discussion/comment/119486759#Comment_119486759

Yeah, even more so for those of us still on the 6.95c/kWh night rate. €291.75 deemed export payment for my 5kW inverter, thanks very much.

KCross

https://www.boards.ie/discussion/comment/119486824#Comment_119486824

Dont forget to declare that extra €91.75 income to Pascal. He needs the money! 🤣

graememk

Going through the Cru document again

I think I said that a while back 😂 missed it on my first read through.

And also the calculation example ( done the business one as it's a whole year)

Deemed export works out at 297.4 kwh /kw of MEC (inverter size)

€350 deemed export for a 6kw

fuse

https://www.boards.ie/discussion/comment/119486578#Comment_119486578

Nice,

I just switched to SSE Airtricty, their smart tariff rates (day,night,peak) are 2-4c less then Energia's by the looks of it , so I think I'll stay put.

Something I learned when switching - making a call to sales team, if you're not quite through with your existing contract, they may offer to apply a credit to your new account to the value of the early exit fee you may be charged on the other side as an enticement...