funded solar panels

shopaholicz

Hi,
I'm been wanting to get solar panels fitted for the last 3-4 years, but just can't afford the cost. Then I came across this website

http://www.pspscheme.org.uk/

On the face of it, it seems too good to be true but the cynical inside me says there must be a catch.

Has anybody used them?
Anybody see the catch?

Ebe_Scrooge

I don't know this company specifically, but it could well be genuine.

What happens is, solar panels generate electricity when the sun is shining. Any of this that you don't use, gets pumped back into the national grid, through a meter, and you get paid from the leccy companies for this - it's called a Feed-In Tariff ( FIT ).

Now, if you pay to have panels installed, you get this FIT money every month. What happens here is that the company that installed the panels receives it - that's how they make their money.

The FIT is important because that's one of the biggest advantages. If you're out at work all day, odds on you're not going to be actually using much of the electricity that's generated. You could put your washing machine & tumble drier on a timer to run during the day, things like that, but electricity that's not used cannot be stored, only fed back to the grid.

The other consideration is that the company owns the panels - I'm not sure what happens if you then want to sell your house and the new owners don't fancy being beholden to the company for what's on their roof.

So in a nutshell, yes it *probably* is genuine, but think carefully about it.

KazLA

I have been told there are issues when you want to move house, tread carefully.