Free Solar Panels worth £10k+

[PiKe]

I saw this on money savings expert website.

It works because of the feed-in-tariff (FIT) introduced by the government in April, for every Kw of electricity you generate by using renewable methods you get 41p, an average 2.2.kw system would generate about £800 revenue in the year.

What some Solar installers are doing are supplying the equipment and doing the maintenance for free but pocketing the FIT payments, over 25 years they'll end up with at least £11k profit.

You still benefit from cheaper electricity too because whether you use the units you generate or not, the FIT still pays the 41p per unit.

What are peoples thoughts on this?

 

[Westyfield2]

You still benefit from cheaper electricity too because whether you use the units you generate or not, the FIT still pays the 41p per unit.

So you get the 41p even if you use the 'leccy yourself?

Sounds like a good idea.... well if this country ever had any sun!

 

[PiKe]

So you get the 41p even if you use the 'leccy yourself?

Sounds like a good idea.... well if this country ever had any sun!

Yes that's right.

You don't need full sun for it to work either.

 

[Sirrel Squirrel]

Sounds like a no brainer really, how much conventional electricity do you normally need on top of what the panels generate?

 

[chrisxuk]

I think you can see if your house can have solar panels here - http://homesun.com/

 

[02goswej]

So you get the 41p even if you use the 'leccy yourself?

Sounds like a good idea.... well if this country ever had any sun!

Solar Panels work on passive/ambient sun light. Not just direct


/Johnathan

 

[craptakular]

Solar panels are not that effiecent in GB, your best bet is a small wind turbine. The feed i tarrifs are ok, but it takes like 20-40 years to get your money back...

if your move house then you will lose the chance to recoup your money back.

 

[Ahleckz]

This was on Radio 2 yesterday, they had an MD from one of the companies speaking about it. The guy doing the interview sounded quite hostile, and obviously doubted the proposals as they couldn't provide 100% energy. I think the MD said 40% of a households leccy could be obtained from his panels. A fair percentage. I'd probably look at getting some if it was nice and cheap and if it would really save me money in a realistic time frame which I doubt. I also don't have a suitable roof.

 

[PiKe]

Solar panels are not that effiecent in GB, your best bet is a small wind turbine. The feed i tarrifs are ok, but it takes like 20-40 years to get your money back...

if your move house then you will lose the chance to recoup your money back.

You need over 5m/s average wind speed, out average is under that so solar in my case is better.

Wind generation is more suited to the coasts and Scotland.

The FIT also applies to wind generation too btw.

 

[Cosimo]

A little more info:

http://www.decc.gov.uk/en/content/c...ix/renewable/feedin_tariff/feedin_tariff.aspx

http://www.bbc.co.uk/news/10277544

http://www.ashadegreener.co.uk/

 

[PiKe]

Solar panels are not that effiecent in GB, your best bet is a small wind turbine. The feed i tarrifs are ok, but it takes like 20-40 years to get your money back...

if your move house then you will lose the chance to recoup your money back.

True but it also adds to the value of the property.

 

[craptakular]

You need over 5m/s average wind speed, out average is under that so solar in my case is better.

Wind generation is more suited to the coasts and Scotland.

The FIT also applies to wind generation too btw.

Research Maglev turbines.

 

[BigglesPiP]

I'm going to buy 50 and put them in the basement.

 

[PiKe]

I'm going to buy 50 and put them in the basement.

 

[Rameses]

Looks good, just filled in my details will let dad have a chat with them, we have a south facing house with clear view so could work well.

We'll see!

Thanks pal!

 

[Cosimo]

I'm going to buy 50 and put them in the basement.

To power the lights for growing your weed.

 

[Cosimo]

He doesn’t have a south facing house.

 

[bledd]

I plan to build 'The Grinder' from Yuri's Revenge, and feed it with ******

 

[platypus]

I heard the R4 interview the other day too. It seemed decent to be perfectly honest. Ok the company takes all the money for 25 years, but it essentially means ~40% of your electricity is free, and you don't have to worry about huge installation/maintenance bills.

 

[clv101]

The feed i tarrifs are ok, but it takes like 20-40 years to get your money back...

That's not really the case. The feed in tariffs have been specifically set such that they give a competitive rate of return on the capital investment. Without looking it up, it's something like 5-8%.

What Home Sun have seen is that they can borrow a billion quid, and the FIT rate of return is enough to cover their interest payments with a little to spare for profit. It's how the system is meant to work, it's meant to stimulate the market just like this.