RICS report claims Solar Thermal energy takes 208 years to pay back
October 13, 2007 6:54 pmI saw a report in today’s (Saturday 13/oct/2007) Times, Mail or Telegraph that Solar Thermal energy takes 208 years to pay back. In fact, ALL of the figures in the report are drastically wrong - the figures and costs quoted are 5-8 times greater than “real world” quotes, and the figure for solar energy is completely incorrect. As member of the Solar Trade Association (STA) , Solar Powered Services abide by the strict ethical guidelines for both marketing and suitability of solar products. I’ve contacted the STA and RICS for explanation, and look forward with interest to see where they go the figures from. Click the image below and you’ll quickly see just how wrong the figures are.
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One Response to “RICS report claims Solar Thermal energy takes 208 years to pay back”
The government should investigate this bogus report. The figures are clearly wrong.
I’ll take one example, Solar Thermal instalation; and relate it to my personal situation.
Conservative Scenario: If I where to invest £5000 in solar thermal; my gas bill is low per annum at £274 pa 2 bed, (many household gas bills are higher,families). (Input 50% and 70% solar savings to gas bills); assumption they do not go up (unrealistic, they have risen by 20% this year in our region with further natural gas prices likely)(Also assumed is that £5000 is a constant, future relative installation costs are likely to fall with future competive mass production/ installation costs reducing; following the double glazing experience)
Scenario 1 Solar Thermal 50% gas displacement = 29 years to pay for solar instalation
Scenario 2 Solar Thermal 70% gas displacement = 36 years to pay for solar instalation
208yr RICS figure looks ridiculous.
If we look a more realistic family scenario with a £400 /household gas bill , 3bed
Scenario 1 Solar Thermal 50% gas displacement = 25 years to pay for solar instalation
Scenario 2 Solar Thermal 70% gas displacement = 17 years to pay for solar instalation
I’d suggest all in all 20-25 years are the Real World pay back current figures for solar thermal; not 208year fantasy. One must assume after short scrutiny, the RICS report is one for the recycling bin.
What if next year; Solar Thermal Installation costs are slashed 10-20% by more demand/competition; and average household gas prices go up another 10-20%? Both very possible!
Care to comment?