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A local energy expert is advising people not to use a new scheme where firms offer to ‘rent a roof’ to install solar panels.
The scheme gives homeowners the benefit of free electricity from the solar panels installed - but the companies running the schemes get all the other financial benefits.
Peter Bladen, Managing Director of Halsall-based solar panel company BSOLAR said: “Homeowners who opt for these schemes will get solar panels installed for free and on average will save about £110 off their electricity bill each year. However, there are additional administration charges which make this saving even less.
“The companies who install the panels will be taking the majority of the profit. These firms will be taking advantage of the government’s ‘Feed in Tariff’ scheme, which guarantees the installers 41.3p per kWh (kilowatt-hour) of electricity generated by the panels. This means that typically the firms will be earning around £835 annually from the solar panels.”
Peter recommends that homeowners invest in their own solar panels then they can benefit from both the free electricity and the government’s scheme. He said: “In today’s economic climate I know that people are concerned about investing in anything, so are likely to take up rent a roof scheme. However I would urge people to buy and install their own solar panels instead.
“The average system costs around £10,000 but under the government FIT scheme it will provide you on average with an income of around £800 a year and this is guaranteed for 25 years. So the average system will pay for itself in less than 12 years and give a return of at least £10,000 profit over the 25 year period. This also excludes the free energy it provides during the day.”
He added: “My advice to anyone considering solar panels is why take up the ‘rent a roof’ scheme when in the long run you can be better off by thousands of pounds by paying for the installation yourself.”
For more information about having solar panels installed, please contact BSOLAR on 0845 009 8642 or visit www.bsolar.co.uk.
