Less than 9 years – Solar PV pays for itself!
What another great year for my Solar Photovoltaic system.
Not only has the year’s yield been the second highest so far, I’m also pleased that the system has now paid for itself ahead of time!
Solar Yield Records
In a year of Covid Lockdowns, 2020 has seen my little 2kw Sanyo PV system break two monthly records and also generate the second highest year so far. This again is very pleasing efficiency now that the system is 9-years old.
The first monthly record was set in March. I remember it well, the pandemic was spreading and we entered Lockdown One during this month. We’d already been spending more time than usual in the garden. This probably due to what was occurring in the world, staying in and not going out. But also for being an extremely sunny month.
The second record was a real smasher with the best ever month of May. This saw a greater than 18% increase on the previous record set back in 2013.
The whole of 2020 gave me the second best year so far with some good months. This was obviously helped and kick-started with such a good spring. First March and then May with a great return also noted for April in the middle giving the second highest ever fourth month.
Solar System Pays For Itself
At the start of my journey back in 2011 I knew very little about Solar PV. It started as something my farther was interested in. He shared his thoughts and my interest grew.
I remember lots of deliberation went through my mind – should I invest in this world of solar power harvesting and generation? – would it be a waste of hard earnt money? – would I get some of my investment back?
Later that year I decided to invest in a 2kW solar system for my property. It wasn’t a huge panel array but something that I was prepared to gamble on and could afford to purchase at the time.
I knew that I’d get a return from my investment with the help from the government’s FIT PV scheme. What I didn’t know was how much or even if the solar panels would ever pay for themselves within the 25 year scheme.
As the years have gone by my investment has looked ever increasingly like being a good one. After the first year my projection was that the investment would be paid back within 10 years.
I now know that in 2020, approximately around the month of August that my Solar Photovoltaic system paid for itself and has started to give me a financial profit on investment.
Looking back as I write this post – not only am I extremely pleased to say that my Solar PV system paid for itself within 9 years. It has also provided me during this time with a considerable amount of free renewable electricity.
Not only am I helping the environment, I’m also making some money along the way. This will please Pete and his Money Saving Tips 🙂