Parents 76yo getting solar panels installed!

Misstress

To me this screams bad idea!!

Got told the other day that they are going to pay £10,000 to have solar panels installed, the reason, because the saving interest rates are rubbish and they don't know what else to do with it!! :eek:

Surely at their age of 76 they are never going to get their money back from it. I think the salesman has done a right number on them!

Please give me reasons, links, info I can print off to show them, if it is a bad idea that is! I know nothing on the subject.


Why can't they spend it on a round the world cruise of something!!

PARENTS !! grrrrrr

LEJC

I'm sorry if this might not be the thing you want to hear...but you think its not a good idea....but thats your opinion and they are grown adults presumably able to make their minds up too...

Theres nothing in your post to suggest that they wont live a happy and healthy life for many more years to come and also benefit from reduced energy costs...

A relation of mine did a solar package a few years ago and actually it works great for them so at this early stage dont discount it as a scam to rip them off...perhaps if you really feel that you need some more information about the scheme they are getting into arrange to be there when the salesman is so you can direct your questions at someone who may be in a position to answer them for you....

Its sometimes difficult to see decisions that the elderly make as being beneficial to them especially if they conflict with your own views but sometimes you just have to let people make their own mind up.

Misstress

Thanks for the reply

From what i have read then a few years ago your relative would have got good deal but apparently things are not so good now for returns.

Healthwise, my mum broke a bone just over a year ago which has left her with constant pain, and my dad recently had a hip op, their house is fairly large and so is the garden so I dont know how long they will be able to look after the place, I reckon a max 5 years before they have to downsize again.
According to what I have read it would be 25ish years before they get their money back. If I have understood it correctly.?

It just seems like such a waste of money that they wont get back when they could spend it on enjoying themselves while they still can.

llandyrnog

Hi, Might be an idea to get another quote as £10,000 seems high ! Of course I dont know how big the array your parents are getting and also if there are any difficulties regarding access etc. As a guide a 4kw array would be nearer £6,500 -£7,500 installed.

Misstress

llandyrnog wrote: »

Hi, Might be an idea to get another quote as £10,000 seems high ! Of course I dont know how big the array your parents are getting and also if there are any difficulties regarding access etc. As a guide a 4kw array would be nearer £6,500 -£7,500 installed.

Ok thanks will check with them.

T_T_2

LEJC wrote: »

Theres nothing in your post to suggest that they wont live a happy and healthy life for many more years to come and also benefit from reduced energy costs....

I don't think that a scam is being hinted at, the OP is just being realistic as to their parents likelihood of outliving the payback period which can exceed 15 years. Reduced energy bills costs aren't much comfort if you have just spent £10k in order to get them.

Misstress

Like you said T_T I don't think its a scam I just don't think the salesman has my parents best interests at heart and is probably on commission.

They seem to think that they will have free electricity and get £1000 cashback a year?

PasturesNew

LEJC wrote: »

I'm sorry if this might not be the thing you want to hear...but you think its not a good idea....but thats your opinion and they are grown adults presumably able to make their minds up too...

Unfortunately, studies have shown that when people get older their ability to judge if they're being conned diminishes. This is why so many older people are more easily sucked in by snake oil salesmen.

The OP is right to question the deal and check if their parents have been hoodwinked because older people become more trusting with age.

PasturesNew

Misstress wrote: »

They seem to think that they will have free electricity and get £1000 cashback a year?

This can be true - and sums of this much have been obtained by people.... those figures in themselves aren't a scam.

You'd need to know how much they currently use per year - what their tariff is (how much they're going to be paid) .... and then you might be able to work it out. With those figures it should be a simple/quick Excel calculation to estimate their likely income/savings.

Most people with systems are keeping records of their saving and their income.

llandyrnog

Why not go on the Green and Ethical Money Saving section on this forum, especially the thread, "Talking about my Generation " lots of people with solar fitted sharing their views ! and ask the question " Is it worth it ? "

bluesnake

you may want to look here https://forums.moneysavingexpert.com/discussion/3325628

Think when the government footed the bill, and if your house was south facing with a large enough roof, you could be making some cash.

These systems do need a bit of maintenance though. How much extra weight on the roof are these panels?

Personally I think they will be better of with led bulbs. In winter it will take a lot of available bright sunlight to power 1 electric heater.