Rob, if you are going to comment on the returns of a solar energy installation, then you do have some responsibility to check your numbers.
I have had a $15000 photovoltaic set on my roof for a year and a half.
The average electricity produced over that time is 11.9 KWh per day.
At the current Meridian payback rates that equates to $1.94 per day which amounts to just over $700 a year.
At the time of installation the return was better as meridian paid the same as it was charging. The return is actually slightly better still as energy used during the day while producing a surplus is not sold to Meridian but directly used, so that is still one for one.
As I have now programmed my hot water heat pump to only work between 10am and 4pm and I employ my dishwasher and washing machine during the day, while also loading my electric bicycles in the sunshine I reckon I save $1000 a year, which means the capital outlay will be paid back in 15 years at stagnant electricity prices and the next 10 years should cough up the interest and more.
If the Government and or the private share holders keep pressuring the power companies to reduce the returns for solar electricity, then I will be forced to invest further into batteries and thereby maintain my returns. Anyway this month’s power bill is $11.80 and that feels pretty good from where I am sitting, particularly, because I did not get my solar panels to make money but to reduce global warming. It is working too as the indefinite postponement of the Deniston mining is showing. Can you please correct the nonsense of a $100 a year saving from a $15000 solar system in your next colum, so that people are not unduly put off from making this switch.