Hi Nick, 4% interest is pretty new, certainly wasn’t the case when I bought the systems. At interest rates closer to zero and given I’m not a gambler and I am a pensioner then reducing my cost of living meant either spending the 17k on “living” or reducing my exposure to spiralling energy costs, which have gone up 300% from last year.
I’m pretty comfortable that this is an investment in protection from future economic shocks due to electrical price surges.
I did put in an earlier post that the increases in interest rates had muddied the waters. However if the government removes its support and prices continue to rise (as they surely will) I think I’m on a winner. If it happens to be13 years “payback” it doesn’t really worry me, I’m enjoying annual electricity bills right now of circa £300 rather than £2000 - £3000.
Also the kit is getting more expensive so getting in as early as possible is an important factor. I could probably sell my Tesla battery for a profit right now.
One other thing about the Tesla Powerwall is that I can run completely off grid during power cuts, which is a nice feature.
