Solar panels lower students’ electricity bills in residency with high energy usage
|20 year Return||£78,000|
|Payback||8 years (12% return)|
|Bill Saving||£600 p.a.|
|Carbon Offset||5,000 Kg p.a.|
Return is calculated using combined bill savings and subsidy earnings. Bill savings are calculated using estimated energy usage and either the electricity price at the time of installation (1 September, 2011) or, for our heating products, the existing fuel type available to the property.
Brayford Court is a modern, stylish student accommodation complex in Lincoln with over 200 tenants and extremely high energy usage. The students’ rent includes their electricity bills so the residency were keen to look at the Government’s Solar PV Feed-in Tariff as a way to reduce their costs.
There were a couple of unique aspects to this installation: slate roofs on a series of small houses meant that space for solar panels was was fairly limited. EnergyMyWay used a unique system which incorporated a 9.8kWp system of Sharp panels with a Fronius inverter.
Both tenants and landlords benefited from lower energy bills and an annual income from the Feed-in Tariff of £3,300, an annual saving of £630 and a return on investment of 13%.