I have been busy looking forwards to the future and moving to more sustainable energy options. This is not just a project for mining, but also to make my family home more efficient long term.
My first steps have been to get some surveys to find out how many panels I can fit on my roof. Then work out the power that will generate and the benefits.
I am still in the design phase of the system, and getting quotes to complete the work. But here are my findings so far.
This is not financial advice or a recommendation that you should go out and do this but is just my case for the current climate.
Solar Panel Costs
For a large family home in the UK a setup is likely to cost around £6,000 – £12,500 or more. As a miner it seems like a large outlay at first glance, but not really if you have paid £3,000 to £15,000 on a mining rig in the last 12 months.
My initial quote was for a 24 / 28 panel system which would see me pay it off in just over 5-6 years with our current energy usage and the upcoming price increases in the UK.
I may be able to get better than this by using 450 watt panels. This is base off a 28 400 watt panels at a 20 % efficiency.
At this point I just want to give a shout out to Leoht, I really like their survey and breakdown.
Jay, who I spoke to has opened my eyes a little bit to what is possible.
Solar Power Savings
With the prices due to go up in the UK shortly, here is what this would same me as an estimate. If I can add to this by including wind power into the system as well the savings would be even greater.
Financial Impact Long Term
I am not going to go into how much mining will make me in this period of time, we are going into the unknown here. But having cheaper electric is going to speed up ROI on this project and improve profits in the long term. Try to think outside the box, its a long term investment just like a business investment and shop around for the best price to meet your needs.
Future Proofing the System
In the UK, Solar is not always as efficient as other countries with more sun. So I ideally want a system that can also utilize other renewable energy sources such as wind. Having options available to both increase battery capacity and also take advantage of off peak tariffs to charge them.
As miners we get a lot of stick due to the impact of mining, this is not going to help with electrical waste. We still need to tackle that in the long term. Looking at better battery technologies that are renewable.
I am just saying this will take away some of the environmental damage a home miner creating. Just reducing the impact as a whole.
You can also keep in touch with us on social media for more updates, how its going for me.