Free solar panels

[keniff]

What's the crack with these adverts everywhere saying free solar panels if your facing south? Is there a catch or a hidden charge? What do they achieve by giving them away for free?!

 

[telectrix]

they get the FIT for 25 years.

 

[keniff]

So what would I gain from having them? I haven't got a clue about the whole solar scheme never been interested but im seeing more and more pop up in my area

 

[trev]

You would gain xKWH free electricity during the hours when daylight is falling on them. Not much really is it?
I'd be wanting £££ off them + the free electricity but then again if I was putting panels on my roof I'd be buying them so I'd get the FiT

 

[Earthstore]

On the average house it could save you around £100-£150 per year on your electricity bill, that is if you are willing to lease your roof out to a 3rd party for 25 years.

The downside of this is if you want to sell or re mortgage you would have a 3rd party that has an interest in your property, which is already causing problems as some lenders will not lend, and some others will not give you the best rates available as their risk is increased, so by saving £100-£150 per year could end up costing you more in the long run.

If you are interested in PV, my advise would be to borrow the money at say 3.5% and then see a return of around 10% (FIT payments and savings) and keep sole ownership of your property.

I hope this helps