1kw Solar Panel System – Estimation of Costs and Benefits
A 1kw solar panel system should generate around 800 kwh per year depending upon location.
A three bed house uses around 3000 kwh per year of electricity. However you should expect intermittent generation due to weather conditions and so the National Grid would still be required especially when your demand is higher. For instance when using a dishwasher, washing machine or electric oven
No allowance has been made for maintenance of the system
Estimated life of the system is 25 years however no allowance has been made for the decline in performance as the solar pv system ages.
Benefits may increase or decrease depending upon the fluctuation of you local electricity suppliers prices.
A 1kw solar electricity system requires approximately 8 square metres of roof space.
1kw Solar Electricity PV (Photovoltaic) System Cost Analysis
Estimated cost of System £4000
1kw system creating approximately 800 kwh of electricity per annum = £112 (calculated at 14p per kwh – estimated value of best local electricity company tariff)
Feed in Tariff (Government Benefit) @ 16p per kwh generated = £128
Exported electricity not used (currently @ 4p per kwh)
Total Annual Benefit £240
Payback Period: 16 years