Solar panels: Pros and Cons

Hi Kim

Thankyou for providing the interesting link.

I think it probably answers the question I have often asked, in a sunny Country such as Spain why do we not see many domestic solar panel arrays ?

8 to 12 years is a long time before you actually cover your initial outlay, without some sort of incentive scheme attached, such as the feed in tarriff in the uk, then it looks a poor investment.

When the feed in tarriff ( FIT ) was introduced in the UK around 2010/11,  I paid £9500 to fit an array of panels to my roof, it would probably cost half that today but I locked into the FIT at the highest point in 2011.

All the projected calculations suggested that I would recoup my outlay in six and a half years and that calculation proved to be spot on.

Therefore that left me with a tax free, inflation linked income for the remainder of the the 25 years of the FIT scheme.

Currently the panels earn me app £1650 pa plus app £150 pa savings on electricity usage.

So, after the six and a half years to recoup the outlay.

18 yrs 6 months multiplied by £1800 = £33,300.....it will be a little more than this when you factor in inflation linking.

Even if I drop dead tomorrow I am £6300 in front.

If I ever needed to sell the house it is an obvious selling point, although I acknowledge that not everyone would want to buy a house with panels atop, the FIT scheme is also transferable to new owners.

It is without doubt the best investment I ever made due to the, admittedly, over generous uk FIT scheme.

Ken

Hi Ken,

Thanks for your experience in the UK, one of my sisters is also on the FIT scheme.  I don't think we can expect something similar in Spain anytime soon - the government has only recently finally got the "sun tax" issue off its agenda, although hopefully that will encourage uptake here.

I see many houses with a single panel for water heating, but I've only seen full arrays on houses in the campo - I guess they have no other choice.  It would be interesting to hear of others' experience in Spain, especially around cost, durability of the panels and longevity of the batteries.

Kind regards, 

Kim

I AM THINKING OF FITTING A SOLAR SET UP ON MY PROPERTY AND I AM ON THE CAMPO BUT I DO HAVE MAINS ELECTRIC AND WATER, I WILL LET YOU KNOW THE TOTAL COST AND PRO'S AND CON'S WHEN I HAVE COMPLETED AND RUN THE SYSTEM FOR A FEW MONTHS

A very interesting post and you have done well.  We have solar panels on our roof back in the UK and don't get anything like the amount you have been getting.

The UK Feed-in tariff has changed downwards on a regular basis so people need to check what it is at the time of signing up.  If you were lucky enough to sign up when the FIT was high you were lucky.

I have no idea of prices for solar installations in Spain but have a feeling it could be more than the UK thus the payback time will be increased.  I would be interested to see a quote from someone.