That was 9% over the estimate we'd had of 3440 kWh per year (including the 29th Feb) - not a bad result given the pretty rubbish weather in particular in the summer. I found that March & September were good, May, July and August were passable but May & July were poor.
In the end we got a credit from our electricity companies of more than 7 kWh per day for the 11 months we were generating and being charged for what we sold back to the grid due to the faulty meter. This was a reasonable sum but given all the pain & frustration of the saga, £200 didn't go a long way, especially as we'd already paid it out and it was simply a refund.
Better though was the lovely figure of £1747 in the bank (well, paying off the first instalments of the loan for the system) and a benefit of around £80 for the year by way of a lower electricity bill (16% lower than previously)
So all in all a return of £1827 GBP on our investment of £11000 - more than 16.5% APR by my rough maths ... not half bad!
The amount we generate and earn in FiT payments is great although there's obviously little we can do to affect that. What I am trying to work out though is how to get more benefit from what we generate and (until now) have only used a little of.
Basically I work out that:
Obviously there's no great problem with that - we get our FiT payments whatever happens (at least until Smart Meters are rolled out) however as 84% of our electricity was still from the grid in spite of the panels and 75% of our generated power went back to the grid, it seems crazy to accept that when we could be using up to 100% of our generated power without suffering any FiT disadvantage AND see the benefit of a further reduced electricity bill - by up to another £240 per year theoretically if we could use all that we generate and only go to the grid for the balance of 2000 kWh per year.
There are increasing numbers of clever systems available for making use of more of the generated power, however with some of them costing many hundreds or even thousands of pounds, saving only £20 extra per month means we'd have to be truly convinced & have the money available before such a system would make sense.
There does seem to be an argument though that one of the more intelligent immersion heater systems would be a good idea - not too expensive or complex but a cheap & easy way to store power, as heated water and therefore reducing our gas bill accordingly.
The other relatively simple measure I'll look at is the Wattson electricity monitor - a great system which it seems works well with Solar PV systems to show when the generation outstrips demand in an easily comprehensible way and so it helps everyone to understand when it's "free" to switch something on and when it is not. Wattson is not cheap as electricity monitors go, but at around £100 is pretty affordable if we can save more of the extra £240 per year!
eBay here we come! Not only for Wattson but to sell our 2 other electricity monitors which only get confused by the Solar PV system!
Basically I work out that:
- We use around 5700 kWh per year or 15.5 kWh per day.
- This can be from the grid or from the panels (if the sun is shining etc.) but that's what we need.
- We generated 3762 kWh from the Solar PV panels in year 1 - 10.3 kWh per day.
- Of that the majority went back into the grid.
- We used approx. 16% less electricity from the grid - 917 kWh per year, 2.5 kWh per day - from our panels.
- This is a benefit of around £80 per year depending on the power company.
- So if 917 kWh didn't come from the grid it came from the panels (assuming our usage is broadly stable)
- That means that we used less than 25% of what we generated and more than 75% went back to the grid.
Obviously there's no great problem with that - we get our FiT payments whatever happens (at least until Smart Meters are rolled out) however as 84% of our electricity was still from the grid in spite of the panels and 75% of our generated power went back to the grid, it seems crazy to accept that when we could be using up to 100% of our generated power without suffering any FiT disadvantage AND see the benefit of a further reduced electricity bill - by up to another £240 per year theoretically if we could use all that we generate and only go to the grid for the balance of 2000 kWh per year.
There are increasing numbers of clever systems available for making use of more of the generated power, however with some of them costing many hundreds or even thousands of pounds, saving only £20 extra per month means we'd have to be truly convinced & have the money available before such a system would make sense.
There does seem to be an argument though that one of the more intelligent immersion heater systems would be a good idea - not too expensive or complex but a cheap & easy way to store power, as heated water and therefore reducing our gas bill accordingly.
The other relatively simple measure I'll look at is the Wattson electricity monitor - a great system which it seems works well with Solar PV systems to show when the generation outstrips demand in an easily comprehensible way and so it helps everyone to understand when it's "free" to switch something on and when it is not. Wattson is not cheap as electricity monitors go, but at around £100 is pretty affordable if we can save more of the extra £240 per year!
eBay here we come! Not only for Wattson but to sell our 2 other electricity monitors which only get confused by the Solar PV system!