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Bugs
Joined: 28 Oct 2004 Posts: 10744
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tahir
Joined: 28 Oct 2004 Posts: 45669 Location: Essex
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sean Downsizer Moderator
Joined: 28 Oct 2004 Posts: 42219 Location: North Devon
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Posted: Fri Dec 24, 04 12:34 am Post subject: |
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Sadly, I believe grants are only available for authorised systems, that are fully installed by authorised installers.
Don't think "there's a grant so it must end up cheap" - some of these guys were selling double glazing last year!
So beware of performance claims that are ridiculously optimistic, and get plural quotes!
Economics: how much do you spend on water heating in a full year? I doubt its more than �100. Not many systems would save you more than 2/3 of that - say �65.
So on a 10 year payback, you wouldn't want to spend more than �650.
Alternatively, if you are a 40% taxpayer, how much would you have to invest to get �65 taxpaid cash extra in your pocket per year (same result as saving �65 on outgoings)? Well you can get 5% gross on a deposit account (3% marginal after 40% tax), and you'd have to invest �2,167 to get a net return of �65 per annum at 3%.
But you have to allow something for maintenance, repairs, etc...
But fuel prices are more likely to go up rather than down (IMHO, ymmv, etc)... Make your call!
So... for an ordinary domestic system, I think its probably hard to justify spending more than about �1500, and the highest rate of return probably comes from the very cheapest...
And 'spending' means actual outlay taking account of grants, discounts, etc
Dougal |
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3mariners
Joined: 20 Dec 2004 Posts: 16 Location: East Devon
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tahir
Joined: 28 Oct 2004 Posts: 45669 Location: Essex
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judith
Joined: 16 Dec 2004 Posts: 22789 Location: Montgomeryshire
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tahir
Joined: 28 Oct 2004 Posts: 45669 Location: Essex
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judith
Joined: 16 Dec 2004 Posts: 22789 Location: Montgomeryshire
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tahir
Joined: 28 Oct 2004 Posts: 45669 Location: Essex
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judith
Joined: 16 Dec 2004 Posts: 22789 Location: Montgomeryshire
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sean Downsizer Moderator
Joined: 28 Oct 2004 Posts: 42219 Location: North Devon
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wellington womble
Joined: 08 Nov 2004 Posts: 15051 Location: East Midlands
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