You have no doubt noticed all those new solar panels popping up everywhere on people’s roofs.
There is a good reason for this, the cost and reliability of solar panels has improved so much that it is now a viable proposition that will definitely save you money on your electricity in the long and short term.
There are two main schemes in operation in the UK, both of which are of benefit to the consumer.
One is to buy the panels and have them fitted to your roof. You pay from £11,000 to £15,000 for a system to be attache to your roof and the panels will generate cheap electricity for your home straight away. Also they will generate income for you from Fits (feed-in-tariffs) this is a government incentive and may not last forever…
The other is to allow a company to pay for and install the panels for you. There are strict criteria governing this as the companies forking out the costs want to see a guaranteed return on their investment so they will only do this if your house’s roof if facing the right direction, is big enough, well maintained and unshaded (i.e by trees other buildings etc)also you are contracted to keep them on your roof and generating electricity for you and income for them for 25 years.
The advantage to having it paid for by another party is obvious, your electricity bills will be reduced, especially if you normally use a lot during the day (most people would be out at work) so handy if you are a stay at home parent, work from home or pensioner. Also, no large financial outlay. This disadvantages are only apparent when you compare this to buying the panels with your own money. That is when you will see a real difference and will get such a significant return on your investment that it is already being hailed as a better paying investment than a savings account.