Have no special knowledge of these hedges/swaps/whatever, couple of thoughts:
Says they were acquired with the purchase of NIE, so perhaps only a legacy issue (of course, could ask whether they were identified properly when NIE was purchased).
Another exposure to inflation could be via index linked pensions/salaries?
1kW of solar panels can be bought for about €700, a suitable grid tie inverter for €300, another €100 for the other bits and pieces. A diverter such as the Immersun will cost €400, so Electric Ireland want €4k to put it on your roof!?
Apart from doing this through Electric Ireland it makes good sense.
@pyritenation, Yes, that would appear to explain the pricing structure alright.
Just how much hot water does a house need?!!
If the State (or Electric Ireland) were serious about renewable energy then they would allow the excess electricity production to be supplied to the grid rather than dumped into wasteful hot water. A REFIT would be an obvious solution, but a simpler solution again would be Net Metering. It would cost nothing to administer. The ‘low usage standing charge’ already covers the cost of maintaining the grid.
That article and the measures are more concerned with about giving two fingers to Donald Trump that doing anything ‘green’.
I looked into retro fitting solar hot water panels to our house. When I did the costs, I found I could run an electric shower for 30 min every day for 12 years, and would still not have recouped the cost of the fitting the panels and ancillary bits.
I’m surprised that the sums didn’t work out for solar collectors/water heaters, but similar to this PV scheme the prices got inflated once the grants became available.
For anyone interested in this Electric Ireland proposal the chart below shows what the production data for a 1.44kWp PV scheme in the Dublin region would have looked like between June 2016 and February 2017.
The house is consuming 12 kWhr of electricity per day and the green portion of the chart shows that portion that is met by the PV panels. The red line shows the number of kWhr being diverted to heat water.
And this is the very same production data with Net Metering…
That reduction in Grid electricity consumption can be achieved with a very small investment, but the key is to simply allow Net Metering.
Yeah there is more that a small amount of truth in that. The SEAI grants stipulate that the works be carried out to a certain standard, which adds a lot of cost. New installs are cheaper than retro fitting. We would have been looking at roughly €4k after grants, to install. That is a hell of a lot of electricity.
I have used my diesel car before during a power cut, with a power inverter hooked up and the engine running. It was enough to power the TV and a few lights, although I was a bit concerned about the car getting nicked.