Gold for Solar

R

rossrulz

New Member
Hi Guys,

I'm in two minds if I should sell 2 ounces of my stack to get solar panels installed at my home. I'm a bit short for cash and would like to get them ready for summer time. I really don't want to sell anything from my stack but would like some other people's opinion.

Cheers.
 
I would say go for it, depending upon the rebate plan you are elegible for.

Power is only going to get dearer, so they will pay themselves off in a few years.

And they last for 25+ years, so its going to be providing free power long after the initial investment has been paid off.

Also I see it as a selling point for a house, if you are inclined to move out in the future.
 
what FiT are you entitled to? Most states have cut thier FiT so as to bring ROI into the 7% range... IMHO waste of time and $
 
Au-mageddon said:
I would say go for it, depending upon the rebate plan you are elegible for.

Power is only going to get dearer, so they will pay themselves off in a few years.

And they last for 25+ years, so its going to be providing free power long after the initial investment has been paid off.

Also I see it as a selling point for a house, if you are inclined to move out in the future.
Click to expand...

Go for it.....

But maybe wait a while as I have heard that panels are going to be cheaper soon.

Weigh that against rebates?

Shop around and do the research, knock on local doors that have them & ask questions.

Will the power go into the grid & lower your bill or just power your home?

You will never look back after having panels installed & also go solar hot water.
 
Posting some numbers for reference.

I have a 3KW system installed in June last year. I am fortunate enough to get a $0.50 rebate per KW.
I have been tracking the numbers and cost, here they are:

- For a full year running, I paid a total of $82.21 in electricity bills.

(Using past year data)
- If I have no solar, I would have paid $1,687.11 (meaning a saving of $1604.91 for the whole year)
- If I have solar but no rebate, I would have paid $1166.35 (meaning a saving of $520.77 for the whole year)

(Using projected data)
- I spent $7,700 for the 3KW system. Under my current rebate and usage, I'll break even within 5 years.
- Putting price increment into consideration, I'll break even in as short as 4 years.

My rough calculation shows a 1.5KW system will breakeven slightly shorter, though you'll get lesser savings after breaking even.
You main investment for 2oz of Gold will be justifiable after you breakeven (which will be roughly 2 years in my case).

In short, I'll say, find a reliable solar company and go for it.

my 2 oz,

Revlisify
 
revlisify said:
Posting some numbers for reference.

I have a 3KW system installed in June last year. I am fortunate enough to get a $0.50 rebate per KW.
I have been tracking the numbers and cost, here they are:

- For a full year running, I paid a total of $82.21 in electricity bills.

(Using past year data)
- If I have no solar, I would have paid $1,687.11 (meaning a saving of $1604.91 for the whole year)
- If I have solar but no rebate, I would have paid $1166.35 (meaning a saving of $520.77 for the whole year)

(Using projected data)
- I spent $7,700 for the 3KW system. Under my current rebate and usage, I'll break even within 5 years.
- Putting price increment into consideration, I'll break even in as short as 4 years.

My rough calculation shows a 1.5KW system will breakeven slightly shorter, though you'll get lesser savings after breaking even.
You main investment for 2oz of Gold will be justifiable after you breakeven (which will be roughly 2 years in my case).

In short, I'll say, find a reliable solar company and go for it.


my 2 oz,

Revlisify
Click to expand...

Meant to say......

How many panels do you have?
 
just to share some info here.

i have 1.5 kw system, cost install $2k.

the company that i use is now bankrupt..

have it for almost 1 year now.. bill on summer is quite low, about $70/month, bill on winter is about $200/month.

i run small business, and home almost everyday.

the big savings comes in off peak, as i run most of the washing/dryer/hot water system in off peak.

my rate are:

peak: $0.29986/kwh
off peak: $0.14344/kwh
service to property: $0.83237/day
buy back: $0.66/kwh

on top of that, early bird discount of 17% for paying early.

and i am in victoria.

hope that helps a lot.

before changing to solar and price increase, i am paying abou $580/3 month, and increasing....
 
I reckon go for it but as stated, check the rebates to see what the payback period is and the length of time that you anticipate you will be at that house. The purchase of your power is guaranteed until 2017 i think (i am slack at these things).

I'd also suggest that you put a lock and window on your meter box.

Someone turned my solar system off at some point (coincidentally around the time that the meter man came and looked) and because i am very slack at keeping tabs on the thing i didn't notice. Instead of a deposit into my account of approx $550 from the power it generated i only received $110.
They say that the power company needs to be able to turn it off so they don't get zapped when they work on the lines. I think i'd rather they cut the lock if they needed to turn it off. The meter man can just look through the window on the box from now on.
 
Can't go wrong either way. Personally I'd wait a year or three (gold higher, panels lower) but that's just me.
 
Au-mageddon said:
I would say go for it, depending upon the rebate plan you are elegible for.

Power is only going to get dearer, so they will pay themselves off in a few years.

And they last for 25+ years, so its going to be providing free power long after the initial investment has been paid off.

Also I see it as a selling point for a house, if you are inclined to move out in the future.
Click to expand...



I don't know where they're testing these 25+years, long lasting solar panels... Possibly in an underground bunker!?

Solar panels that live in full sun year round have a much shorter lifespan, 10 years on average and that's without taking lightning strikes into account....



Don't let that put you off setting up a solar system but just remember that the panels are a consumable and the inverters aren't cheap either - if something were to go wrong...
 
Got solar installed in late August, at the end of previous power bill period. Eligible for the generous feed in tariff before the Newman govt scrapped it.

Size: 5kW
Outlay: $12,000

Previous quarter power bill: $472
This quarter power bill: $424 credit

That's an $896 turnaround in 3 months.

I'm no maths expert, but that is a hell of a return. Better than silver or gold over the same period.
 
We have ten 235w panels, so 2.35 kw system.... We have $0.66 on contract to 2016.

Where we live we have less sun than many parts of east coast, but average $4 per day. Most i have made in a day is $9 ish. Pretty much means we ave no gas or power costs... So i am stoked with it.

Shiny.
 
Sell it only if you need to, but right now gold's price is going down. You should know that.

Calculate: will solar panels help you make substantial economies? When will you get return-on-investment?

You could eventually buy 2 oz or more later... provided that you can earn enough to buy more in the future.
 
2Kw system fitted a couple of years ago.

66c FiT for 7 years. Haven't had an electricity bill since it was fitted, its also paid for most of my gas, water and a bit of my rates bill as well.

Totally unsustainable, don't know how anyone ever came up with it, but I don't care, I pay enough tax, its about time I got something back.
 
I just bought a solar kit for my house in WA..
Company : A womens spark.
PV kit : 4.5kw system, 18x250kw panels

The company ive researched seems to have raving reviews over Facebook and elsewhere, id say the buy direct from inverter and panel wholesalers
and offer the cheapest prices ive seen in WA.
My 4.5kw system cost me $5400 completely installed(not cheap junk either)
But i can say, i can increase my electrical use and never fork out a cent for a power bill for a very long time
It should take roughly 4 years to pay itself off.
I fathom a power bill much like interest on a house loan, if i can buy solar and remove the loan and reoccuring interest, why not...
i believe its a smart move, and will have more play money later on...
:)
 
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