Solar panels - Deborah Meaden

robpw2

On Dragons Den Deborah said if you have money in savings take it out get 16 solar panels on your roof and you will get 10% tax free
will this be the new way to save money?

edinburgher

will this be the new way to save money?

I'd think of it as more of an investment. Basically I think having solar panels/solar hot water heating is a great idea if:

You have a suitable space for the panels
You don't face any planning problems etc. getting them installed
You've got the initial monies - they're not cheap
You're not planning on moving for a long time
You think the government will continue to support FITs
You're realistic about the return on investment of putting up the panels

Lokolo

Yeh FIT payments are the biggest reason, if these should stop I imagine it would be a very tight call as to whether you break even or not.

Old_Slaphead

Lokolo wrote: »

Yeh FIT payments are the biggest reason, if these should stop I imagine it would be a very tight call as to whether you break even or not.

Not forgetting that to gain maximum benefit you need a southfacing room (and hopefully not too many pidgeons, seagulls etc)

soozy

I'd rather leave my money in savings & lock it into long term fixed rate ISA.
£12,000 in 5 year fixed rate cash ISA paying 5% interest returns £15,315 after 5 years. If I can keep this rate going the Motley Fool compound interest calculator shows a return of £40,636 after 25 years!
Plus I'll be able to move house without leaving my investment behind.

alun4

To me they are very unsightly and I wonder if they would put someone off buying the house (so a possible reduction in value?)

alun4

Is this something you could do ... DIY?

hcb42

alun4 wrote: »

To me they are very unsightly and I wonder if they would put someone off buying the house (so a possible reduction in value?)

free energy an asset surely

CharlieBilly

I believe you need credited installer

alun4 wrote: »

Is this something you could do ... DIY?

alun4

Possibly, but I am still concerned of the value of this free energy. If you contract, is it not a 25 year "hold" over your freehold property?

alun4

CharlieBilly wrote: »

I believe you need credited installer

Would this be for future sale of the property or for connecting energy to the grid or if you used the energy (electricity) yourself would this still have viability?