'free' solar panels - things to look out for?

Tempest

25 years is a hell of a long time with technology isn't it.

Just think what computers and silicon chips were around in 1986.

In 1987 the Amiga 500 was launched!

I'm guessing totally, but in even 10 years time you may find panels that are 10x better at producing electricity and you have dinosaurs on your roof.

richard plumb

but you'll have dinosaurs on your roof that the government is paying you for.

richard plumb

we had the free ones fitted, and we 'lease' the airspace above the roof to the solar company. in return they maintain them for 25 years. They will transfer to the next owners if we move and the maintenance will continue.

Not sure why anyone wouldn't want them - I suppose some might be put off, but others might be attracted by the idea of free electric.

I'll review the electric generated after year 1 and decide whether its worth buying them out.

philbam

I am now of the opinion that leasing is the best way to go, very little up front money to outlay, even if the return on the 'buy back' electricity is a lot less.
In my case not possible as the roof has to be south facing, which mine is not.
Also, the trouble is virtually all my electricity is used in the evening and night time - don't use very much at all in the daytime, even though I am home most of the day. Gas central heating means no saving on heating bills either.
Would love to do it but just not really feasible on my property.

saintie1

Here's why I think this idea is a bad one.  

For one the argument that the return can be compared to the interest on the bank is a fallacy.  You are hoping that this 25year return will forever be the case.  In this day and age when government budgets are getting squeezed (or should that be reduced) why would this wizz be like any other budget.  I know of no government scheme (which involves giving out cash) to ever have lasted 25 years particularly those that pay a huge premium.

Once you spend the cash that's it if something changes be it government hand outs or whatever, how much do you think you will be able to sell them for?  What have you got apart from the memories of what your bank balance used to be, and useless panels on your roof as a reminder.

Now if you had the cash and it was earning what ever interest in the bank, what happens a few years down the line.  Guess what.....you get interest and your original cash sum is still there.

For those who are thinking about getting them free, if things change as per above who will be removing them from your roof.  If you think the company that put them there think again, these companies have sprung up overnight will disappear as soon as they arrived.

Remember if it sounds too good to be true it usually is.  The FIT will come to an end (or greatly reduce) sooner than think.  The only ones laughing will be the companies that sold them in the first place.  A great wheeze of you can get on the bandwagon!

richard plumb

payments are guaranteed for 25 years. Of course its likely that the scheme will shrink or be stopped for new applicants when/if it gets too popular/money runs out. But the payments for existing users should continue.

As far as I can tell, it isn't costing the government money anyway, its all levies on the utility companies. Which is a reason to be in the scheme, as otherwise you're subsidising everyone else

Tempest

I also have to agree, it's a leap of faith to expect no changes to any promises when we may have 5 changes in government over that time frame, and who knows who will own the utility companies in the next 5 or 10 years.

Is it any better than a lifetime guarantee that's only as good for as long as the company keeps trading?

imightbewrong

If it works out for 11 years and you can realise the £1K per year then you are broken-even, then everything else is profit unless maintaninace is required.

The most worrying aspect to me is losing your money if you move house - hopefully you can present it well enough to a buyer that they would pay a premium for it, but I wouldn't count on it.

richard plumb

for a free system you just leave it behind, no big deal. If you've spent £10k on it yourself, could be worth taking it with you.

Tempest

Does the power get put into batteries or something?
If you are away all day, esp in the winter and it's dark when you get up and dark with you get home, the only daylight period with any charge coming will be during the 7 ish hours in between when you are not there.