Here is the quote details:
Thank you for taking the time to allow me to explain the benefits of installing Solar P.V at your
home in Dumfries. I have calculated your financial return based on installing a 3.43kWp System
(14 X 245w panels).
As previously explained, by installing the system you will benefit in 3 ways:(all income is TAX-FREE)
1. Feed-In-Tariff: You will be paid a rate of 43.3p for every unit that the system produces.
2. Export Income: You will be paid a further 3.1p for every unit that you donʼt use and export to the national
grid. (This is on top of your feed-in-tariff).
3. Energy Savings: You will save 14p for every unit that you use from the system instead of buying it from
your current energy supplier.
In order to qualify for the Feed-In-Tariff both the installer and the system must be MCS approved which your
system will be and you will receive your certification once your system is installed.
Upon visiting your home I established that your annual consumption of electricity was around 6,571 kWh at
an average unit price of 14p giving you an annual bill of approximately £920. The energy savings trust
estimates that a system can produce approximately 40% of the electricity a household uses in a year, I have
calculated my assumptions based on 37% of your current consumption.
Based on your post code and having 14 panels on your south west facing roof, I have calculated that the
system should generate approximately 3,033kWh per annum and have constructed a summary of your
financial return in year one:
Investment in 3.43kWp System: £11,620.00
First Year: Income from Feed-In Generation Tariff @ 43.30p/kWh: £1,313.49
Income from exporting energy @ 3.10p/kWh: £16.93
Electricity Saving: £348.24
Total Benefit: £1,678.66
Return per annum (Year One) 14.45%
I have included a more
detailed breakdown of your investment below.
Calculations include system losses in a central UK location due to Temperature 6.8% and Angular
Reflectance 3.2%, as well as other losses (e.g. Cables, Inverter) of 5%.
System Investment Feed-In & Savings Pay back time Profit over 25yrs
3.43kWp £11,620.00 £ 1,678.66pa 6y 2m £73,500.85
Year FiT Generation Export Income In-house savings Balance
1 3,033kWh x 43.30p =
£ 1,313.49
546kWh x 3.10p =
£ 16.93
2,487kWh x 14.00p =
£ 348.24
-£9,941.34
2 3,033kWh x 45.03p =
£ 1,365.95
546kWh x 3.22p =
£ 17.60
2,487kWh x 15.40p =
£ 383.04
-£8,174.74
3 3,033kWh x 46.83p =
£ 1,420.25
546kWh x 3.35p =
£ 18.30
2,487kWh x 16.94p =
£ 421.25
-£6,314.94
4 3,031kWh x 48.71p =
£ 1,476.32
546kWh x 3.49p =
£ 19.03
2,485kWh x 18.63p =
£ 463.14
-£4,356.46
5 3,029kWh x 50.65p =
£ 1,534.16
545kWh x 3.63p =
£ 19.77
2,483kWh x 20.50p =
£ 509.05
-£2,293.47
6 3,025kWh x 52.68p =
£ 1,593.73
545kWh x 3.77p =
£ 20.54
2,481kWh x 22.55p =
£ 559.33
-£119.88
7 3,021kWh x 54.79p =
£ 1,655.00
544kWh x 3.92p =
£ 21.33
2,477kWh x 24.80p =
£ 614.34
£2,170.79
8 3,015kWh x 56.98p =
£ 1,717.95
543kWh x 4.08p =
£ 22.14
2,472kWh x 27.28p =
£ 674.50
£4,585.37
9 3,008kWh x 59.26p =
£ 1,782.54
541kWh x 4.24p =
£ 22.97
2,467kWh x 30.01p =
£ 740.23
£7,131.11
10 3,000kWh x 61.63p =
£ 1,848.72
540kWh x 4.41p =
£ 23.82
2,460kWh x 33.01p =
£ 812.01
£9,815.66
11 2,990kWh x 64.09p =
£ 1,916.45
538kWh x 4.59p =
£ 24.70
2,452kWh x 36.31p =
£ 890.32
£12,647.12
12 2,979kWh x 66.66p =
£ 1,985.66
536kWh x 4.77p =
£ 25.59
2,443kWh x 39.94p =
£ 975.69
£15,634.06
13 2,966kWh x 69.32p =
£ 2,056.30
534kWh x 4.96p =
£ 26.50
2,432kWh x 43.94p =
£ 1,068.69
£18,785.55
14 2,952kWh x 72.10p =
£ 2,128.28
531kWh x 5.16p =
£ 27.43
2,421kWh x 48.33p =
£ 1,169.91
£22,111.16
15 2,936kWh x 74.98p =
£ 2,201.51
528kWh x 5.37p =
£ 28.37
2,408kWh x 53.16p =
£ 1,279.98
£25,621.02
16 2,919kWh x 77.98p =
£ 2,275.89
525kWh x 5.58p =
£ 29.33
2,393kWh x 58.48p =
£ 1,399.57
£29,325.81
17 2,899kWh x 81.10p =
£ 2,351.31
522kWh x 5.81p =
£ 30.30
2,377kWh x 64.33p =
£ 1,529.37
£33,236.79
18 2,878kWh x 84.34p =
£ 2,427.63
518kWh x 6.04p =
£ 31.28
2,360kWh x 70.76p =
£ 1,670.11
£37,365.81
19 2,855kWh x 87.72p =
£ 2,504.71
514kWh x 6.28p =
£ 32.28
2,341kWh x 77.84p =
£ 1,822.55
£41,725.36
20 2,831kWh x 91.23p =
£ 2,582.40
510kWh x 6.53p =
£ 33.28
2,321kWh x 85.62p =
£ 1,987.49
£46,328.53
21 2,804kWh x 94.88p =
£ 2,660.50
505kWh x 6.79p =
£ 34.29
2,299kWh x 94.18p =
£ 2,165.73
£51,189.04
22 2,776kWh x 98.67p =
£ 2,738.82
500kWh x 7.06p =
£ 35.29
2,276kWh x 103.60p =
£ 2,358.10
£56,321.25
23 2,745kWh x 102.62p =
£ 2,817.13
494kWh x 7.35p =
£ 36.30
2,251kWh x 113.96p =
£ 2,565.46
£61,740.15
24 2,713kWh x 106.72p =
£ 2,895.18
488kWh x 7.64p =
£ 37.31
2,225kWh x 125.36p =
£ 2,788.66
£67,461.30
25 2,678kWh x 110.99p =
£ 2,972.72
482kWh x 7.95p =
£ 38.31
2,196kWh x 137.90p =
£ 3,028.53
£73,500.85
These estimates are calculated assuming tax inclusive pricing including fitting of MCS certified panels to
determine the best possible payback. Assuming that you pay 14p per unit and that around 82% of the
solar electricity that you generate will be used in your home.
Assumptions:
1 Illustrative solar PV performance figures only. Figures are given in good faith but do not constitute "Financial Advice".
2 Yearly PV output uses a factored degradation over time based on industry estimates.
3 VAT is included (at 5% where appropriate) unless a new build is specified.
4 Photovoltaic Panels will not be shaded (e.g. by Trees or Buildings) as shading affects PV output.
5 Assuming that you pay 14p per unit and that around 82% of the solar electricity that you generate will be used in your home.
6 Assuming RPI of 4% and increase of 10% per annum on electricity bills.
