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Should I dump the FiT for SEG?

 
Solar Photovoltaic (PV)
Last Post by batalto 3 years ago
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 batalto
(@batalto)
Noble Member Member
Joined: 5 years ago
Posts: 1092
Topic starter 14/10/2022 12:47 pm  

So we currently are getting FiT payments - 5.9p/kw for Export and 4.1p/kw for Generation. The question is, should I dump this move to the SEG or even Outgoing Octopus. Octopus SEG is 3x the rate at 15p/kw and outgoing has topped over 50p/kw this last summer. I know the FiT is guaranteed for 25 years, but at 15p thats cash back in 8 years and at 50p/kw its only 1 or 2 years. 

I am thinking move to SEG over the winter and then onto Outgoing for the summer months. Open to peoples thouhgts.

Also as an update I had our mains gas capped and the meter removed this week. No more standing charges for un-needed gas.


12kW Midea ASHP - 8.4kw solar - 29kWh batteries
262m2 house in Hampshire
Current weather compensation: 47@-2 and 31@17
My current performance can be found - HERE
Heat pump calculator spreadsheet - HERE


   
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 ChickenBig
(@chickenbig)
Reputable Member Member
Joined: 4 years ago
Posts: 292
14/10/2022 1:48 pm  

Congratulations on moving off gas!

Do you stand to benefit in a non-financial way from the move away from FiT (e.g. easier to change the panels or inverter)? Making financial judgements are more tricky to assess, given current volatility. Or are you eventually planning to move to something like Octopus Go (in which case I'm sure you know the Octopus Outgoing option is unavailable)?



   
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 batalto
(@batalto)
Noble Member Member
Joined: 5 years ago
Posts: 1092
Topic starter 14/10/2022 6:53 pm  

@chickenbig I'm on Go. But you can just shift tariff over the summer when I don't actually buy any power


12kW Midea ASHP - 8.4kw solar - 29kWh batteries
262m2 house in Hampshire
Current weather compensation: 47@-2 and 31@17
My current performance can be found - HERE
Heat pump calculator spreadsheet - HERE


   
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