July 2011 PV Revenue Results

In my previous post I show that all but one day had very high PV generation for our system over July 2011. I don't complain about the one lower output day as we desperately needed the rain. On the 20 June 2011 we broke even since the winter where our cumulative revenue exceeded our cumulative loan payments. We had a very sunny June and we continued to add to our surplus so that by 1 July we started the month with $58.60 surplus. Don't forget, this is a surplus on a PV system that was over $31,000 and we had less than 2 more months to earn a little on our investment.
July was a very good month, adding to June's very strong output [and therefore revenue]. My chart below shows the cumulative revenue, loan payments, and microFIT payments we received.

Cumulative revenue, microFIT payments, and loan payments to 31 July 2011, 4.9 kW PV system.

We see the following:

• Revenue has exceeded loan payments by $341 by the end of July
• Return to date is 1.08% [profit over loan value]
• microFIT payments are a little irregular [number of days for each payment has been 49, 70, 68, 43, and 63]. I suspect that microFIT payments are manually processed at Guelph Hydro with "flexible" schedule
• Slope of cumulative revenue is greater during May-July vs. Aug-Nov [clearly showing the tendency of longer days in the summer, less cloud cover]. This trend should continue for the rest of the summer given the long range forecasts, though some rain is forecasted over next 2 weeks. 

I did do a boo-boo in some previous charts. I was showing earlier versions of the figure above with the microFIT payments including HST. The payments from Guelph Hydro includes HST. I must submit this to Revenue Canada so I incorrectly was including that tax as part of my revenue. The chart above is corrected and does not include HST. I shall talk about taxes in a forthcoming blog post.