Octopus have cut their Solar buy-back rates (to 15c) and they have simultaneously raised their prices for all their rates so it was time to look around for alternatives....and Meridian had the best deal going. While the new Meridian flat rate was more than the Octopus night rate it was the same or less than the Octopus off-peak and peak rates...so on the whole cheaper...and their solar buy-back is still 17c. And it is fixed for five years....so as the solar buy-back rate keeps falling and the costs keep climbing I'll be able to sit pretty on 17c, and the rates I've locked in...while still be able to quit and go anywhere without penalty. Oh...and there was a $300 welcome credit (which you lose if you leave within two years). So on the whole a good deal!
In the past however I would export as much solar power as I could and load shift into the night for the cheap night rate...on a flat rate this isn't needed (whether or not flat rates are good for NZ Inc is another discussion...spoiler alert....it's not) but equally because of this flat rate the cheapest power I now have is my own solar.....so maximising self-consumption becomes the new game I must play!
To that end I'm looking at the economics of managing the hot water cylinder....I could use home automation to switch the HWC on/off based on the solar production but this comes with several downsides - firstly cycling the HWC on and off is going to wear out my relay pretty quick, and secondly the element will draw way more power than I'm able to produce, particularly in the colder months or on overcast/patchy days. So this method at best gives me a "discount" on the hot water heating as I'll only ever use a random % of my own power on any given day...and I should expect to pay for relay replacements.
On the other hand something like a solar diverter can more efficiently match the power fed into the HWC with the power coming from the inverter so it will heat the water slower and over a longer time but not import much power to get the job done...then I can just boost it at the end of the day to get the temperature to max so we go into each evening with a full hot tank.....and then let it get cold overnight before the process starts again the next day when the sun comes up. On really sunny days the end of day boost will do nothing, while on rainy days the boost will do almost all the heating....but it is what it is...
The question is how much do diverters cost, how long do they last, and then what's the payback period? There's no point getting something that has a payback period of 8 years with an expected life of 5 years.
Ideally it would be something I can integrate with HA....particularly to programme the end of day boost and to automatically bypass the HWC when we are away for a week....
I'd be keen to hear from some people with experience, especially if they have recommendations!
Cheers!