Feb Update and Solar PanelsMarch 3rd, 2011 at 02:31 am
February numbers were pretty good, overall we were under by $12. We only went over budget on gifts (by over $70)and groceries by over $27. If we didn't get the Costco membership we would have been under. I'm reasonable happy with our spending so far this year. Although the renovation expenses is a bit higher than I anticipated it to be but at the same time we are saving few thousand dollar by doing most things. Eventhough it is taking longer but we are happy with it.
This month's spending should be reasonably lower again.
On another news, we decided to get solar panels. Our federal government have had this solar panel scheme here for a while now and they are winding it down next month. We have been talking and researching about it for about a year now, debating whether we should do it. Since the start of this year we pretty much have been talking about it almost daily because yet again the electric company have decided to increase their rates. Also the prices on solar panels have become very competitive in the last few months. So we thought to just do it now. This is probably not the best time to do it now with all the renovation expenses and all. We have enough in the household fund for it but this would mean that we have to hold off on renovating the main bath room for few months or so. The main bathroom probably won't get done until the end of the year or even early next year, it is not such a big deal especially when we get the ensuite done.
Overall the cost for 6 solar panels including installation will be $7857 but the government is putting in $5360 so it will only cost us $2497. DH calculated that it would take us 4 years to break-even and sooner if the electric price keep going up. The solar panels itself has 20 yrs warranty and other parts for 10yrs. I just hope we made the right decision.