Are free solar panels installations too good to be true?
With the advent of solar panel technology and energy companies offering free solar panels also known as 'rent a roof' schemes, we explain why these gargantuam offers of generousity are not necessarily a good thing.
Free solar panels offers
In a nutshell - Some solar energy companies are offering to install over 10,000 pounds worth of equipment to your home for free. We look at what spurred this monumental generosity and why it won't result in a sunny outcome for some.
Did you know: You can only reap the financial rewards and increase in property value by installing your own panels
Common questions about free solar panels
What's in it for them?
The simple answer is the financial reward of the feed in tariffs scheme, which was introduced to give home owners who install solar panels a financial reward in doing so. Taking away your financial reward entitlement is what is happening here with the government planning to clamp down on such practices very soon. Heat my Home always recommends buying and arranging the installation of solar panels at your own cost in order to claim the feed in tariff yourself. CLAIM THE FINANCIAL REWARD for YOURSELF.
No expensive fossil fuels, no carbon, solar panels are changing the way energy is made. Own your system and truly benefit from solar energy. Get a quote...
The feed in tariff system was designed to grow the solar industry at an organic rate. The strain put on the scheme by mass installations will leave the scheme unsustainable. The financial incentive originally aimed at home owners, will go to the energy/solar company offering the 'free solar panels' and not to the intended home owners. This means you will be losing out on thousands of pounds worth of income. In fact these companies are doing this to make huge profits out of your roof space and in some cases, only a very small saving on your electricity bills is made.
The eligibility process
It is in the interests of 'free solar panels' companies to maximise the amount of electricity which is exported out to the National grid in order to maximise the amount of feed in tariff they can claim, rather than the home owner being able to use the power themselves.
Why own your panels
Owning your own solar panel system gives YOU the great benefits of:
The great financial income from the feed in tariffs scheme. This is why companies want to give away thousands of pounds worth of installations to profit from.
The huge decrease in your electricity or in some cases heating bills is another big financial incentive.
The increase in your property value will only occur if you own the panels yourself. Someone else's panels will likely decrease your property's value.
BUY & BENEFIT YOURSELF.
It has been claimed that homes without a perfect south-facing roof and home owners who don't work during daylight hours are unlikely to be selected for a free installation. This is misleading because solar panels work perfectly well on South East, South West and even East/West split roofing orientations.
The bottom line is that it makes no sense for such companies to invest in your home and then for you to use the lion's share of the power generated. This will count out most pensioners, young families, people who work from home, the self-employed and the unemployed.
A 25 year contract is a very long time. Curcumstances change and you could be left unable to sell your property with someone elses solar panels on your roof.
Contacts vary between companies, so shop around and read the terms and conditions very carefully if 'free solar panels' is the road you want to go down.
IF YOU CAN AFFORD TO BUY, THEN DO SO AND BENEFIT YOURSELF.
A question of time?
Please be aware that if you sign up to this type of scheme, then to see any benefit from the solar panels will require you to use power during the daylight hours most of the week.
If you install the solar technology yourself, then it doesn't matter if you are at work all day, the electricity generated will go towards your feed in tariff payments and you will receive a higher income from it as it gets exported and you get rewarded.
Other free solar panels pitfalls
Signing a contract with such companies basically means that you are leasing your roof to them for a minimum of 25 years. A lot can change over 25 years, so if you need to sell your home during this period, someone else's solar panels on your roof could almost certainly de-value your property and also put off potential buyers, leaving you with a house you may find hard to sell.
The viewing conversations will go something like this:
Buyer: Oh great, its got solar panels.
Seller: Well the solar panels are not ours, we leased our roof out to a solar company.
Buyer: oh dear!
Seller: But if you stay at home all day, you can use the power they generate.
Buyer: We go to work in the day because we have a mortgage to pay for.
Seller: It probably will not benefit you then.
Buyer: What a shame, I really thought we'd found the one.
In some cases, you may have the option to buy the solar panels at a later date, but for many people, if they are unable to buy them today, then they are unlikely to be able to afford to buy later, possibly leaving you in a 'catch 22' situation.
As another well known saying goes 'all that glitters is not gold' and this is particularly true with the free solar panel 'gold rush', but like any gold rush, there will be winners and losers.
Contracts vary considerably between companies, so if you do decide to go down this avenue, then compare companies and read the terms and conditions thoroughly, because buying yourself out of the contract may prove to be more costly than installing them yourself in the first place.
If you can afford it, have your own solar panels installed and reap the financial rewards yourself:
An increase in property value (if owned by yourself)
The feed in tariff reward for generating electricity, even if you use it yourself.
A bonus feed in tariff rate for exporting your surplus electricity to the grid.
Savings on your electricity bills.
As you can see here, these types of schemes may be good for some people, but not everyone, so please consider how this may affect you in the future.
If you cannot afford solar panels?
Please be aware that if you sign up to this type of scheme, then to see any benefit from the solar panels, will require you to use considerable amounts of power during the daylight hours for most of the week.
Our advice would be to do the basics first:
Roofing and cavity wall insulation will be very beneficial to bringing down your energy bills.
So too will double glazing, thicker curtains and low energy light bulbs.
Bio mass heater such as a wood burning stove instead of your current gas or electric fireplace can save you money and be more environmentally friendly. Please remember to source your wood from sustainable sources and do not use coal.
Alot of energy and thus money can be saved from your annual energy bills by implementing these cost efficient and affordable to most measures.
Installing your own solar panels
If you are seriously considering solar heating or an electric panel installation, we can provide you with free quotes from trusted MCS solar installers, both local and nationwide.
Solar panels quotes
Solar panels including installation quotes are as easy as 1, 2, 3.
Simply click on our 'Get a quote' button and arrange a FREE home survey and consultation appointment which should last around 1 hour. Appointments with questions and answers sessions may take longer.
