The system included x 16 250W Eco Futures “all black” solar pv panels, using Enphase micro inverters which significantly improves energy production generating a faster return on your investment.
The solar installation was carried out in 2 days.
It is estimated the system will pay for itself in under 8 years, from that point forwards Mr Griffiths will then be earning an income from his solar pv investment.
March 2015 update: We received the following message 12 months after Mr Griffith’s system was installed.
Here’s what Mr Griffiths had to say:
I hope you are keeping well and that business is good.
Today is the first anniversary of my solar PV system. I’ve not had any problems and it is performing better than expected.
At lunchtime today the generation meter read 3886 kWh. This equates to a FIT payment of £671.70.
I submitted the fourth reading yesterday. The total is 3795 kWh which gives me £656 for the year.
My electricity bill has plummeted and my gas bill is down as I had cavity wall insulation and loft insulation top-up done over the summer. I have also just changed tariff. My monthly gas + electricity charge is now just over £55. So, in effect, I am now getting my energy almost for free! Not bad at all!
At 3886 kWh the system is performing about 10% better than in your projection when you were selling me the system. I wonder if this can be attributed to the micro inverters?
If we assume I am using 50% of my generated electricity, then I am getting a total return of £905 pa. This equates to a simple ROI of 13.5%. Modelling the purchase and returns as depletion (over 20 years) of an interest paying fund, gives an equivalent interest rate of 12.14% after tax. I wish my financial advisor would give me returns like this!
I am happy for you to share this data with other existing and prospective customers.”
Paul Griffith, Wivenhoe nr. Colchester, Essex