Free solar panel discussion

geoff2

Maybe Sussex is in France??

Not quite, but we get a lot more sunshine than you!;)

geoff2

On the subject of ‘free electricity’. It seems anything ‘free’ attracts a frenzy of applicants – many of whom must not appreciate how little their savings will be.

Exactly the point I was trying to make earlier. Wait and see, people - don't rush in like a lemming.

Larnsky

Am I the only person who likes the look of solar panels on roofs? I've always loved the idea of generating my own electricity from the sun especially, in fact when I brought my house I did make sure I had a south facing roof for a time when I might be able to get some panels.

I've been accepted by British Gas to have a system installed on my roof on the 'rent-a-roof' scheme, I was contemplating buying the panels myself, but from my calculations I figured out that after 25 years I wouldn't be that much better off then if I had just kept the money in an ISA.

Up until reading these forums I saw no downside to getting the panels through the scheme at all as everyone I talk to likes the look of them, but after seeing the negative reaction on these forums I'm quite surprised, do people really dislike them that much to avoid buying a house because of them. I know that if I was looking at two adjacent houses, and one had panels and the other didn't, I would personally go for the one with panels, even if it is only a small reduction in your electricity bill (at the current tariff) because you're also doing 'your bit'.

Cardew

Larnsky wrote: »

Am I the only person who likes the look of solar panels on roofs?

everyone I talk to likes the look of them, but after seeing the negative reaction on these forums I'm quite surprised, do people really dislike them that much to avoid buying a house because of them.

Each to his own - but what is there to like about their looks?

Perhaps an indication of their aesthetic appeal is that in conservation areas Councils will invariably refuse planning permission if the panels can be seen from the road, and you can't put them up on listed buildings.

Solargain

Larnsky wrote: »

Am I the only person who likes the look of solar panels on roofs?

I've been accepted by British Gas to have a system installed on my roof on the 'rent-a-roof' scheme, I was contemplating buying the panels myself, but from my calculations I figured out that after 25 years I wouldn't be that much better off then if I had just kept the money in an ISA.

Up until reading these forums I saw no downside to getting the panels through the scheme at all as everyone I talk to likes the look of them, but after seeing the negative reaction on these forums I'm quite surprised, do people really dislike them that much to avoid buying a house because of them.

From my perspective it depends very much on two things.

The first is the design of your house. It's a personal thing, of course, but I think the panels sit much more comfortably on a modern design than an older one.

The second is the neatness of the installation - a messy installation is always going to look a mess, whatever the design of the house.

I'm not so sure about your ISA comparisons - have you seen this:

http://www.reuk.co.uk/REUK-Feed-In-Tariff-Calculator.htm

My calculations produced a total payback (allowing for interest lost) within around 10 years, with clear 'profit' after that. Different for everybody, of course, but the calculator might be helpful.

Gizmosmum_2

Larnsky wrote: »

Am I the only person who likes the look of solar panels on roofs? I've always loved the idea of generating my own electricity from the sun especially, in fact when I brought my house I did make sure I had a south facing roof for a time when I might be able to get some panels.

I've been accepted by British Gas to have a system installed on my roof on the 'rent-a-roof' scheme, I was contemplating buying the panels myself, but from my calculations I figured out that after 25 years I wouldn't be that much better off then if I had just kept the money in an ISA.

Up until reading these forums I saw no downside to getting the panels through the scheme at all as everyone I talk to likes the look of them, but after seeing the negative reaction on these forums I'm quite surprised, do people really dislike them that much to avoid buying a house because of them. I know that if I was looking at two adjacent houses, and one had panels and the other didn't, I would personally go for the one with panels, even if it is only a small reduction in your electricity bill (at the current tariff) because you're also doing 'your bit'.

No you're not I like them too. But then I don't mind wind turbines either... it's something to do with the feelgood factor. I did the calculations and solar pv far outstrips cash left in an ISA. The only problem is if you need access to your cash so it's probably not a good idea to buy but leave yourself without rainy day money.

I'm buying, in fact I'm closing one of my ISA's to do it but I did take advice from both my accountant and an IFA before I decided to do it, so it's a reasonably well informed choice and I'm happy with the level of risk.

If I didn't have the cash I'd be looking at the free offer. I understand that someone else is risking their cash speculatively to provide free electric for others. They take the risk and the associated reward if they pull it off and employ people as a result - makes sense to me. For those who want to buy there are plenty of people who are happy to sell and the prices seem to have levelled off over the last couple of months to a more reasonable level.

Gizmosmum_2

geoff2 wrote: »

Not quite, but we get a lot more sunshine than you!;)

Touche!!!!

Larnsky

I like the wind turbines as well, you're right it's not all about the money! My parents installed one of the micro-generation wind turbines, it doesn't do a lot but every little helps as they say, they're now looking at solar as they've been down this route previously before FiT.

Well I must have made some error in my calculations then, I based my figures on the following: inflation of 2%, interest on ISA 3%, FiT Payment of £872.26, exported tariff of £25.34 and keeping £9,230.00 in a cash ISA for the 25 years. I probably made a mistake in my spreadsheet but my figures came out that at the end of 25 years I would have £18,762.69 in my ISA, or if I was using FiT then I would have £19,667.40 in my bank after paying off the initial cost..... actually even as typing this I realised a mistake I've made in that I haven't considered that I will then be putting the FiT money back into a bank account which would in turn earn interest.

Gizmosmum_2

Larnsky wrote: »

I like the wind turbines as well, you're right it's not all about the money! My parents installed one of the micro-generation wind turbines, it doesn't do a lot but every little helps as they say, they're now looking at solar as they've been down this route previously before FiT.

Well I must have made some error in my calculations then, I based my figures on the following: inflation of 2%, interest on ISA 3%, FiT Payment of £872.26, exported tariff of £25.34 and keeping £9,230.00 in a cash ISA for the 25 years. I probably made a mistake in my spreadsheet but my figures came out that at the end of 25 years I would have £18,762.69 in my ISA, or if I was using FiT then I would have £19,667.40 in my bank after paying off the initial cost..... actually even as typing this I realised a mistake I've made in that I haven't considered that I will then be putting the FiT money back into a bank account which would in turn earn interest.

The calculator that solargain has added is the one that really made a difference to me. You can go into it and fiddle with it to your heart's content. Remember that the fit increases with the RPI which is currently 4.7% and you'll also have the inevitable increases in fuel costs over the next few years.

Just look at the figures carefully - I've seen 16% ROI on a site I was looking at today which is obvious bunkum!

BargainGalore

factsheet and questions from consumer focus about solar