Solar Panels & Saving/Earning Money - Scam or Not?

Hi

I spoke with a couple on holiday who were just about to have it done but the deal was that they had 'free' power in the daytime. The company installed the solar panels and as a result they kept anything over and above which was generated. Obviously most people are out in the day so they maximise there return in theory. You wont get money back from the grid unless you have paid for the panels yourself as they are obliged to buy your excess energy. However, the buy back has been changed recently according to a customer so your not going to get rich from it.

Hope this helps a bit.

Dave

One of my Customers has them fitted to their house. They get money back, no problem. You have to weigh up the installation cost against how much you will save. My Customer is planning to stay in the house for the rest of their life, so said it would pay for itself easily.

its a long term investment. 15+ years before a profit will be seen if you were to pay outright. these deals where by they fit them for free etc will have very fine small print that would need to be scrutinized.

I may be wrong, but my understanding is that if you get them fitted free or cheap, that company makes money from the excess energy, you don't get it (but you do get free hot water).

I'm interested too ... we have a large south-facing roof and our free paper is full of ads for the solar panels.
The Guardian thinks it's a good deal: Is solar power a bright investment? | Money | The Guardian but the Telegraph is more cautious: http://www.telegraph.co.uk/finance/p...f-10pc-pa.html

Some say buy them yourself, don't get free ones: http://www.guardian.co.uk/money/2010...e-solar-panels

"the UK government has promised to run the [FIT*] scheme for 25 years, subsequent governments could change the payment system so it becomes less profitable**. It should also be noted that solar panel systems may come down in price [so] paying £12,500 may not seem like a good deal in later years. However, on balance ... there is little doubt solar panels are indeed a good investment." http://www.theecoexperts.co.uk/are-s...ood-investment

* To qualify for the scheme you have to install solar photovoltaic panels, known as solar PV
** Nor is it impossible for future ministers to cut tariffs

Confused? I am

I have solar PV (photovoltaic) panels on my roof which I bought about 18 months ago. These generate electricity which is sold to an electricity supplier, eg Npower, Eon, who pay me money (approx 42p) for every kilowatt which my panels generate. Even if I use this electricity it is "bought" from me. There is also an additional 3 pence for half of all the electricity generated. Over 12 months I have been paid approx £700. If I had taken up a "free" panel installation this money would have gone to the installer who is effectively renting a space on your roof in return for you having some "free" electricity during daylight hours on sunny days. If you are at work all day you may not receive much benefit from your midday electricity. Personally, I would never have gone down this road. If you do, make sure that you read all the small print. Ask what happens to the panels if you move. Some purchasers may not want the panels on their roof and would prefer to buy their own. What if your roof needs repairing? Does the installer remove the panels and replace them after the work is complete. If so do you have to compensate them for their loss of income ?
Finally, these PV panels do NOT heat water - for that you need solar thermal panels. I have just had these installed so cannot offer any first hand experience of them yet!
Hope this helps!

I have a friend who is delighted with the PV panels on his roof (whch he paid for). The water heating ones are a whole different story, but yes, they probably do pay for themselves eventually.
Ones which the government pays you for the electricity will probably add something (but less than the purchase cost) to the value of the house. 'Free' ones which the supplier gets the return will not.
I would reckon the 'free' type to be... not exactly a scam, but certainly not the wonderful deal they are trying to sell you.

Unless you are 'they!'

Really pleased with my PV (photvoltaic) panels. They earn me about 1000 quid a year (had regular cheques from EDF) and I get to use the electricity in the day too. All this guaranteed for 25 years, index linked. Unlikely (but not impossible) that future governments will change this as most of the buggers have opted in on it themselves. My installer was a company called Natural Watt from Exeter (and no, I am not connected to them or paid by them to say this), very helpful people. Be very wary of going for the so called 'free' installations; in effect you are allowing them to stick their equipment on your roof free of charge and they make all the money from it. Google it and you will see plenty of warnings about the more unscrupulous companies.

I will be having them (PV) on my roof as soon as my late father-in-laws flat is sold and his estate wound up. Its a far better investment than just putting the money in the bank. We have a small local company who has done a lot of installation round here, including one near our lotties and the guy who own the house is well pleased with them.
Anyone who gas ready cash, i think, its a good idea, but i would not borrow money to pay for them or have the free system.
As to the Water heating panels, there is a grant available towards the cost for some groups of people.
Look on the .gov.uk website

We're getting them on our roof in a few weeks time but only cos we got some unexpected money which will pay for them. Somebody we know has them installed by the same company and they're getting the money back no problems and it's a better investment that putting the money in the bank where it gets no interest. It's a rather different story if you can't pay for them as you have to weigh in either interest payments or work out how the freebie ones will work. What does seem clear is that whilst there are some real benefits there are a lot of cowboys about so it's worth investigating previous customers first and not believing the sales bods.

Thanks peeps for all your help.

I can now make some enquiries armed with your info; what I wan't is cheaper electricity.

M