XPost: alt.home.repair, uk.d-i-y, alt.sci.physics
From: rod.speed.aaa@gmail.com
"Xeno" wrote in message
news:gm9n0eFdsciU1@mid.individual.net...
> On 11/6/19 10:49 pm, Commander Kinsey wrote:
>> On Tue, 11 Jun 2019 13:14:33 +0100, Xeno
>> wrote:
>>
>>> On 11/6/19 9:54 pm, Commander Kinsey wrote:
>>>> On Tue, 11 Jun 2019 12:32:27 +0100, Daniel60
>>>> wrote:
>>>>
>>>>> Commander Kinsey wrote on 11/06/2019 8:09 AM:
>>>>>> On Mon, 10 Jun 2019 10:53:25 +0100, Daniel60
>>>>>> wrote:
>>>>>>
>>>>>>> Commander Kinsey wrote on 10/06/2019 12:50 AM:
>>>>>>>> On Sun, 09 Jun 2019 10:01:28 +0100, Daniel60
>>>>>>>> wrote:
>>>>>>>>
>>>>>>>>> Commander Kinsey wrote on 8/06/2019 4:04 AM:
>>>>>>>>>> On Fri, 07 Jun 2019 03:46:18 +0100, Bob F
>>>>>>>>>> wrote:
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>
>>>>>>>>>>> You know this for every supplier in the world?
>>>>>>>>>>
>>>>>>>>>> Well if you live in the desert maybe you can actually make real
>>>>>>>>>> money
>>>>>>>>>> instead of stealing it from the taxpayer. But in most places,
>>>>>>>>>> solar
>>>>>>>>>> panels are next to useless unless you want to charge up a couple
>>>>>>>>>> of AA
>>>>>>>>>> batteries.
>>>>>>>>>
>>>>>>>>> No farm, just a normal 3 bedroom house with 20 solar panels that I
>>>>>>>>> installed about two years ago costing about $4,500.00.
>>>>>>>>>
>>>>>>>>> Last month, being the start of Winter, i.e. lower sunlight levels,
>>>>>>>>> my
>>>>>>>>> Solar rebate (after any power I might have used during the day)
>>>>>>>>> was
>>>>>>>>> $21.49, so, even at this low sunlight rate, I'd repay the panel
>>>>>>>>> costs in
>>>>>>>>> about 17.5 years.
>>>>>>>>>
>>>>>>>>> O.K., I'd have not earned interest on that $4,500 for that time,
>>>>>>>>> but,
>>>>>>>>> then again, I'd have been getting 'free' daylight power myself for
>>>>>>>>> that
>>>>>>>>> time!!
>>>>>>>>>
>>>>>>>>> Taking into account the greater quantity of power I will(/have) be
>>>>>>>>> generating during Summer, that pay-back time would be reduced (to,
>>>>>>>>> maybe, 10 years'ish!!).
>>>>>>>>>
>>>>>>>>> Just saying!!
>>>>>>>>
>>>>>>>> I wouldn't buy something that took 10 years to break even. Ever
>>>>>>>> heard
>>>>>>>> of an ISA?
>>>>>>>
>>>>>>> No!
>>>>>>
>>>>>> Might be a British acronym. It's a long term savings account.
>>>>>
>>>>> Is that something like what U.S.A'ians cal a 401K ... what we in
>>>>> Australia call Superannuation??
>>>>
>>>> No idea, I don't have one. You put money in and don't touch it for 5
>>>> years and earn a higher interest rate.
>>>
>>> Compounding interest is key.
>>
>> Not what I meant, the % is much higher in the accounts where the bank
>> knows you can't withdraw it for 5 or 10 years.
> That is known in these parts as a *term deposit*.
Nope, those don't pay a much higher interest rate
than the best at all accounts like ubank and ing etc.
> It is not usually as long as 5 to 10 years, typically 1 year.
Different system entirely. Term deposits don't have any tax free status.
Voluntary extra contributions to super is closer, but those
don't have the same tax free status, particularly with the
initial slug that the govt grabs of the contribution and
you cant take it out again after 5-10 years without having
to pay any tax on the interest that's been earned.
> Have some currently at 8 months for the best interest rate.
They don't necessarily have the best interest rate.
> If we roll the money, principal + interest, into another term, that is
> compounding.
But that isnt the reason for using an ISA in pomland.
> Can be done automatically I suspect but we prefer to vet the interest rate
> each year.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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