Solar panel schemes

Stubod

Hi all,

I am aware that the "old" solar panel scheme has now finished, (missed the boat unfortunately), but I was wondering if anybody can advsie what the current scheme is?...ie is there still a Governement sponsored scheme running?.with interest rates being so low, and no sign of us moving anytime soon, I am wondering if solar panels may offer a better return than cash in the bank?

Thanks for any replies...


Stu

macman

Are you referring to solar PV or solar hot water? FIT's are still available for new PV installs.

Stubod

Hi Macman,

I was thinking about electric supply. Under the "old scheme" that ended a hyear or so ago, I am aware that the benefits are quite good, (assuming you could fund the fitting etc.), I am trying to find out what the current schemes are.

Thanks,

Stu

alleycat`

http://www.ofgem.gov.uk/Pages/MoreInformation.aspx?docid=7&refer=Sustainability/Environment/fits/tariff-tables

or

http://www.energysavingtrust.org.uk/Generating-energy/Getting-money-back/Feed-In-Tariffs-scheme-FITs

The tariffs still exist it is just what you get paid back has gone down for new installations.

macman

Since the capital grants are no longer available, the payback period with FIT's alone can be 8-10 years.
There is an argument that such an investment adds value to the property, but that is not yet proven.

alleycat`

Slightly off at a tangent, does anyone know what stress loads are applied to the roof by the panels?

I'm not sure they will cause a massive weight issue but the mounting style does seem to allow for them to become "sails" under the right conditions.

Mr_Ted

Again of posts, but a recent local occurance should be given credence!

A property locally was subject to a lightning strike directly to panels, seem they are a prime earth source and should probably be treated with additional precautions by way of Lightning Earthing Conductors?

reeac

Stubod wrote: »

Hi all,

I am aware that the "old" solar panel scheme has now finished, (missed the boat unfortunately), but I was wondering if anybody can advsie what the current scheme is?...ie is there still a Governement sponsored scheme running?.with interest rates being so low, and no sign of us moving anytime soon, I am wondering if solar panels may offer a better return than cash in the bank?

Thanks for any replies...


Stu

We've got a PV set up which is nearly 2 years old now and yields 11-12% p.a. return tax free. When the original generous FITs stopped and were replaced by lower returns [about half the original] the capital cost of PV set ups about halved and so the % financial return remained about the same. The only disadvantage is that you now need twice the roof area in order to get the same absolute [£ p.a.] return.

We got our set up as an alternative to cash ISAs which yield 3% at best now. It's not really comparable as you can't withdraw the cash with a PV set up as you can with a cash ISA but we're pretty happy with our decision to go PV.