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Disinformation: Solar panels ‘take 100 years to pay back installation costs’

I was reading an interesting article today in The Independent, a United Kingdom publication. According to the Royal Institution of Chartered Surveyors (Rics), Solar panels are one of the least cost-effective ways of combating climate change and will take 100 years to pay back their installation costs.”

Rics published a new guide on energy efficiency, and stated that solar hot water or solar electric systems are unlikely to save a householder any money and solar energy is a poor investment overall for your pocketbook and the environment.

In the case of Solar Hot Water to heat your household water, Rics estimated that the payback period on money saved on electricity and gas would have a payback period of more than 100 years and up to 208 years in their worst case. Rics estimated that Solar Electric Systems would break even in 50 to 100 years!

Being a renewable energy professional, I’ve done and seen many of my co-workers do financial calculations and study put out by Rics is total disinformation! I have never seen payback periods that high with electric rates and gas prices shooting through the roof, actually the payback period on solar energy and wind power systems are breaking even much quicker rather then long as Rics claims. The study conducted by Rics is such a hit job for big energy, it’s not even funny how inaccurate their statements are, by spreading this type of propaganda it’s scaring potential consumers away from renewable energy.

Rics did not factor any of the rebates and tax credits, they used old data for electric and gas rates and modeled the financial returns based on old solar energy technology, basically they ran the numbers in their favor for the study. So the real question is why are they afaird to publish a real story about the effectiveness of solar energy? What do they have to lose?

Author: Deep Patel

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