25 Apr 2011

New meter reading to the electricity company - Pay back in 12.3years

This morning I have submitted the latest reading to EON of 1057.3 kWh.

Since the installation went live on the 19th Oct 2010 this equates to 5.62kWh/day for 188days. The previous readings so far have been

11th Mar 2011 (589.7kWh) gave an average of 4.12kWh/day.
29th Jan 2011 (381.72kWh) gave an average of 3.74kWh/day.
2nd Dec 2010 (198kWh) gave an average of 4.71kWh/day.

If 5.62kWh is applied for the whole year this would equate to 2051.3kWh.

At the previous rate of 42.8p/kWh this gives me £877.95 of money paid to me.

As I initially paid approx £10800 for the system completely installed I will pay off the system in 12.3years at the current rate of return.

The return on investment is approx 8.13% per annum.

This does not take into account any money saved by using energy generated during the day, or any increase in the rates paid to me.

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