I've decided to raid my retirement fund and buy a solar/batteries system. It will be set up to automatically switch back to the grid when the batteries are low. It's not really about saving money (I've already cut down on usage) but more the security of knowing the basics will keep working.
I will have to pay the money back into retirement eventually, but at least it won't cost any extra fees or interest.
Investing
Moderator: Peak Moderation
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emordnilap
- Posts: 14814
- Joined: 05 Sep 2007, 16:36
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What do you mean by 'raid your retirement fund'? 
I assume you must mean a sum you have access to, as opposed to a pension?
One small pension fund I have is now precisely two-thirds of the value of the contributions - and then there is inflation to consider of course. I would have been better off buying premium bonds (prize bonds over here)!
I assume you must mean a sum you have access to, as opposed to a pension?
One small pension fund I have is now precisely two-thirds of the value of the contributions - and then there is inflation to consider of course. I would have been better off buying premium bonds (prize bonds over here)!
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
I'm not sure I would borrow to buy PV panels.
I have a low electricity demand (1.2 KWh per person per day) in my family, so I could in theory buy a system to cover that consumption and find room to fit it on the roof. I could cut net electricity consumption to zero with a small grid tied array.
However, if you are worried about future electricity supply, then rolling power cuts are more likely than total grid failure. These are best offset by having a battery bank and charger/inverter in reserve. You would need to run an isolated ring main or some other way to isolate you from the grid, but a few 100 AH batteries and a medium sized inverter would keep the lights, tv, and central heating pump running for several hours or even a couple of days. Just avoid the kettle, vacuum cleaner, heavy power tools, etc.
A basic backup system would see you through most power cuts for a few hundred quid.
I have a low electricity demand (1.2 KWh per person per day) in my family, so I could in theory buy a system to cover that consumption and find room to fit it on the roof. I could cut net electricity consumption to zero with a small grid tied array.
However, if you are worried about future electricity supply, then rolling power cuts are more likely than total grid failure. These are best offset by having a battery bank and charger/inverter in reserve. You would need to run an isolated ring main or some other way to isolate you from the grid, but a few 100 AH batteries and a medium sized inverter would keep the lights, tv, and central heating pump running for several hours or even a couple of days. Just avoid the kettle, vacuum cleaner, heavy power tools, etc.
A basic backup system would see you through most power cuts for a few hundred quid.
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emordnilap
- Posts: 14814
- Joined: 05 Sep 2007, 16:36
- Location: here
Ah, I get it. Not heard of that before; yet another money-making angle those financial whizzkids dreamed up!tpals wrote:Funds that I have paid in during my career that I can't take out early without heavy penalties but I can borrow.
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker