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I've been looking into this lately, and although I love the idea I can't help but think it's a bad investment. With an optimistic 8 year payback, I can honestly say I don't know if I'll be living here in 8 years...and if I move before then we'll have lost money, let alone made any.
The whole leasing your roof side of things doesn't appeal, because you have a restrictive covenant built into your house deeds which could seriously affect the saleability of your property in the future.
If I buy a system outright and it costs £12k to have a 4kw system installed (aside from any maintenance needed, bearing in mind the payback time is probably 10 years), I wonder how much interest I would save by paying off £12k of the mortgage, and just keeping my monthly repayments the same?
Not only that, but if government grants and subsidies are decreasing each tax year, the only way for the industry to survive is to keep reducing the costs of installing them, which will surely happen. Give me a 4 year payback and I'd be looking at it seriously, but 8-10 years with lots of unknowns?
Need to do some more research, but I can't help but think this is good for only one party - the solar panel installers. |
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