Tuesday, October 30, 2012

A Great Feed in Tariff Cheque

I received my latest feed in tariff cheque this morning. £282.47 was a fantastic amount. Just a little bit less than we received last quarter. I have calculated how much we have saved in electricity and been paid in FIT cheques and it adds up to £1466.60. We have had the solar panels since July 2011 and so that is an average of £293.20 per quarter. We paid £7000 for the solar panels, which means that we will be in profit after 19 quarters which is only five years. If it continues to generate the same amount over its estimated 25 years, then we will get £23456 profit over the life of the solar panels. It is expected that they will get less efficient but this is still a great figure. What a great passive income to have!

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