Why would a company spend £10,000 to install PV solar panel (photovoltaic) on your home for free?
Answer: To make money from you, your home and the government’s feed-in tariffs scheme, which is intended to reward early adopters of solar panels.
This type of practice will soon be outlawed to prevent, under new proposals, energy companies taking advantage of those who will not be able to afford to buy solar panel installations of their own.
Companies making such offers have sparked a flurry of enthusiasm from people wishing to have free solar panels installed in their homes, but most are unaware of the pitfalls of such an arrangement. That is why the energy secretary Chris Huhne, has vowed to stop such practices taking advantage of people on lower incomes in most cases.
Stuart Lovatt, founder of Heat my Home adds “We have always advised people to install for themselves if they can.
We want people to receive the feed-in tariff reward for themselves, which can cover the cost of the installation and give you profit over the coming years, simply for being a pioneer of this technology. Don’t let others take your reward -claim it for yourself. ”
Possible issues with rent-a-roof solar panels
Once you have signed a contract with a free solar panel company, your roof and roof space will contractually belong to the actual installers for the next 20 years.
If during this time you decide to or need to, sell your home, it will mean other peoples solar panels on your roof will deter potential buyers.
What sounds excellent about these free solar panel offers, and why most people take up these ‘free offers’ is the promise of free energy.
Most people work during the daylight hours which means the electricity you use from the solar panels will be very small compared to the total output of the PV panels. This situation says the lion’s share of the power produced will be exported out to the National Grid, and the free solar panels company will benefit from the high rate of the feed-in tariff.
There have also been rumours that candidates for free installations are chosen based on the amount of time they away from the house, which will increase the amount taken by the feed-in tariff and reduce the amount which benefits the homeowner.
Stuart concludes “Not all free solar panels companies’ work this way, but some do which, unfortunately, reflects poorly on the solar industry as a whole.
We welcome this change in governmental policy, which gives the feed-in tariff to homeowners, for which it was first intended, thus prevent investment companies from taking the lion’s share of this reward scheme.”
We encourage the installing of solar panels to everyone’s home. There are great advantages to doing this, which includes:
- 8-10% returns on investment within 10– 15 years of purchase.
- Increase in property value if the panels belong to you.
- Saving on your energy bills for 30-40 years.
- Envious neighbours, not relevant, but some people install for this reason.
Something thing for nothing, especially free energy in the current economic climate sounds very tempting to a lot of people, but as the old saying goes, ‘If it sounds too good to be true, then it is’.