Payback and Performance

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Payback times

With energy prices rising fast, Skyrad makes more and more sense for the average home-owner, and with the government’s Renewable Heat Incentive (RHI), set to be extended to private home owners, not only will you save money, you could receive 17.3 pence for every kWh of heat you generate. For a larger house this can be up to £1000 per year, which is far more than you would typically receive from Feed in Tariffs fitting Solar PV on the same sized property.

You can find out more about Skyrad in the FAQs section, but below is a table that gives a basic idea of costs and savings based on what sort of house and heating system you have. Note all the numbers here are based on UK average figures. You should get in touchwith us to get a more accurate picture of how much Skyrad might cost you and what benefits you could get.

Terraced Semi Detached Detached
Installation Cost £12- 16k Installation Cost £16- 20k Installation Cost £20-25k
Electric
heating
Savings per year £1,200-£1,800 Typical Payback Period 10 yrs
(6 yrs with RHI)
Typical Payback Period 12 yrs
(8 yrs with RHI)
Typical Payback Period 14 yrs
(9 yrs with RHI)
Oil- fired
heating
Savings per year £600-£1,200 Typical Payback Period 10 yrs
(7 yrs with RHI)
Typical Payback Period 12 yrs
(8 yrs with RHI)
Typical Payback Period 13 yrs
(10 yrs with RHI)
Gas
heating
Savings per year £400-£800 Typical Payback Period 14 yrs
(8 yrs with RHI)
Typical Payback Period 16 yrs
(10 yrs with RHI)
Typical Payback Period 18 yrs
(12 yrs with RHI)
Note – Figures based on average installation costs and energy savings. Between 2002 and 2012 gas, heating oil and electricity prices rose on average 8.3%, 10.3% and 5.1% per year respectively (Source ONS).
Figures given here assume that these price rises will continue in future.

 

Performance compared to other Green solutions

Not only does Skyrad provide tremendous savings when applied to the average house, it even delivers better value when compared to other types of Green technology.

The table below compares the performance of a gas-heated, semi-detached house fitted with a variety of technologies. It assumes the price of gas continues to rise at 8.3% per year, as it has for the past ten years, but does not take into account any assumed income from the Renewable Heat Incentive (RHI).

Technology Installation Cost Year 1 Savings Payback Period Annual CO2 Saving
Solar Hot Water £4000 £75 22 yrs 0.6
Micro CHP £5,500 £125 20 yrs 1.5
Biomass £9,000 None – more expensive Never 5.1 or nil
Ground Source Heat Pump £10,000 £190 22 yrs 1.3
Skyrad £18,000 £600 16 yrs 3.7