It's almost 12 months since we got solar panels and a battery installed on our house so I thought it would be a useful exercise to look at the financial results from them.
We have 5.2 kW of panels along with a 10 kWh battery. The panels are all on a South facing roof and we are also in the South of the UK so the setup is probably optimal for the best results in the UK.
First up, lets look at electricity taken from the grid.

This shows monthly electricity usage over time. Prior to the installation, electricity usage had been drifting lower but nothing spectacular. After installation, our average monthly usage is now about a third of what it was. In fact for about 6 months of the year we are drawing virtually nothing from the grid. When we are powered by the battery, there is still a small current being drawn from the grid (around 10W). I believe this is to keep the AC system in our house in sync with the AC from the grid. That means we are using about 10kW per month during the summer
Next, let's look at where our electricity is coming from

I guess the first thing to note is that we are producing more than enough electricity to meet our needs. Of course the problem is we have an excess during the summer and a shortfall in the winter. Whilst our battery is useful for covering our needs for 24 hours, it's not big enough to last for months (the problem for our future grid in microcosm). And although we can sell the excess back to the grid, they pay us far less than we pay them.
The other thing I've noticed looking at that is that the battery is a fairly efficient store of electricity, we are getting 87% of the electricity back out that we put into it.
And one final point. A round 3MWh of our electricity came from our roof, but 1.35MWh of that came via the battery. Batteries are expensive but I think they are a vital part of any solar setup.
Now we can do some calculations. We currently pay 26.67p per kWh, so that 3MWh from the roof knocked off £800 from our annual bill. We exported 2.69MWh to the grid at 4.1p per kWh so we received £110 for it. So overall we have saved £910 in our first year.
People like to discuss a payback time for solar. We paid about £10,000 for our installation, so our payback would be about 11 years, which is a little longer than the time predicted by the installers. It's possible they also included inflation in their calculations or assumed a better rate for selling back to the grid. Now that I have a clearer picture of the excess we produce, I may look into other options for selling it. If electricity prices continue on their current upwards trajectory (thanks Donald!) payback will be even sooner
But to my mind, a better way of looking at the return is what could I expect to get from £10,000 invested elsewhere? If it was sat in a bank account, currently I might get 4% interest a year (not guaranteed). There are shares paying dividends better than that (again not guaranteed) but overall a 9% return a year seems pretty decent







seems like a big milestone. Electricity produced by renewables in the UK in 2023 is higher than electricity produced by fossil fuels. Hopefully the wind will continue to blow for the rest of the year and keep it that way.