Your Money’s Better on your Roof than in the Bank!

John Youatt 6Three years ago, the cost of a solar electric panel (PV) array on a roof was about £4000 per kW installed. The feed in tariff was 45p per kW generated. The incomes paid off the capital cost within about 8 years. I know, because we installed 12 panels (3 kW) at the time and the returns have been better that predicted. Even better, with local publicity, there are now 10 installations in my small, national park village.

Some say the turning point was when the Daily Mail’s economics editor declared “your money’s better on your roof than in the bank”. Then there were scare stories and jealousy stories. Despite those teething troubles, the industry has now settled down, as demonstrated by the following article in the Solar Power portal:

“In the current talk of power shortages and lack of generating capacity, domestic solar photovoltaic, which could be readily implemented and is now cost-effective, has been overlooked. Prices are now close to the projected viable level of £1 per watt. A 4Kw solar PV domestic system can be bought for under £5,000 installed and can produce 4,000kWh a year with a 20-year guaranteed life. This gives a capital cost of £1,138 per kW, with an amortised annual cost of 5.7p per kWh, with no maintenance or distribution costs. If 10% of existing houses (2.8m) converted at 4kW, it would give 11.1TWh, with 11GW capacity, 12% of current UK capacity, equivalent to 3% of UK production, at an installed cost of some £12bn.”

“The annual value at the current domestic price of £0.15 a unit is £600pa. FIT tariff subsidies give a five-year pay-off. I write as a pensioner user with installed PV, which even at the old prices gives an 8% return guaranteed for 25 years, better than annuities or savings – and I am looking at how to fit in more capacity.” John Read, Clitheroe, Lancashire

The stunning point is that even at John Read’s cautious prediction of only 10% of roofs, solar electricity alone will fill the gaps left by the closures and accidents in the dirty fossil fuel and dangerous nuclear power plants. It can

31Oct sunflower 007• Be clean, secure and home grown.
• Create thousands of jobs in a very well regulated industry of panel makers, scaffolders, roofers and electricians.
• Add some income for hard pressed farmers, who like harvesting the sun’s energy. Harvesting is what they do.
• Spur the search for power storage, such as millions of electric car batteries, among many other storage methods
• Reduce transmission losses on the networks

So get installing
Check for the adverts in the press for your local established installer – beware the non-local companies who aren’t there to mend and maintain. The fault rate with local companies is very low.

John Youatt
Regional Co-ordinator (Derbyshire Dales area)

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