If you use all the power and you are paying 15p per unit it will certainly wipe its eye in 8 years dependent on interest rates.If using the power
How many years would you say is a good investment 8 10?
can it be done on borrowed money
Bloke featured on telly yesterday appeared to have 6 panels - so 1.5kw on his roof. He had paid over £9k when i would have thought the price should have been well under £3k.Big piece in National newspapers today and banks set aside millions for the mis selling of solar panels and prediction on future returns and people hit???
Around 7 years ago I was at a farm in Lancashire it was located at the top of a hill.The farmer had 2 turbines put up which cost him £260,000 each, he told me that they would pay back within 5/6 years and that he was locked into FIT's for 20 years? Quite rightly he smiled everytime he looked at them.There is little doubt that many set ups will never pay for themselves, but the banks did not sell them and the vast bulk of sellers have gone back to selling double glazing etc. You cant sue a wound up company!
If you did the research and knew what you are doing solar has been a very good investment so far.
The large ground mounts paying big rents may be struggling , but most investment in the renewable industry on a large scale was done in the back of very low interest money and the returns have been similarly low.
I have looked at wind turbines and many will never begin to make a profit, the accountants who thought they would should have been shot! This is despite FITs of up to 50pence
some turbines are gold mines, its a case of “ location location location”Around 7 years ago I was at a farm in Lancashire it was located at the top of a hill.The farmer had 2 turbines put up which cost him £260,000 each, he told me that they would pay back within 5/6 years and that he was locked into FIT's for 20 years? Quite rightly he smiled everytime he looked at them.
Was that ever possible?
Untill the beast of the east returns and the dno are scratching their heads because they have de commissioned the old Coal power stations and new nuclear ones are years off?Just had a price for 30kw solar and 20kw battery storage. About 7.5 years payback. Virtually all being used on farm as dno don't want any more in the grid.
I am very surprised at this, before the ending of FITs it is hard to see how these did not pay, perhaps not as much as some “ enthusiastic” salesmen claimed but my returns are more than satisfactory and it would have to have been an incredibly high interest rate to have made it a negative return.