Free Solar Panels

iturnbu1

Hi

I was cold called by SEM in Colchester Essex offering completely free solar panels through a new Barclays scheme.

Has any one heard of this ?, Is it a lease or loan scheme?

Thanks

Ian

Cardew

I would search on MSE for 'Rent a Roof' and you will find hundreds of posts on the subject.


The basics of the scheme are that you 'lease' your roof for 20 years to a firm who install the panels on your roof. They get all the Government subsidies, and you get to use in the house, electricity from the panels.


The value of that electricity varies but around £100 a year is a ballpark figure.


The downside is that if you sell the house, the new owners must accept that lease - which can be a deterrent. There are plenty of stories about some banks/building societies reluctant to offer a mortgage on a 'rent a roof' property.


There are also a lot of cowboys operating in this field - e.g. want £500 to set it up etc. I can't think what the Barclays connection might be?? From your point of view it doesn't matter who is financing the scheme - as you should have no interest in any form of finance.


There are some schemes that are not 'Rent a Roof' but firms lend you the money to have a system installed and the loan is paid back from the subsidies(called Feed in Tariff) you receive.


If you post the details of the scheme when you get them, you will get advice.

zeupater

GJE wrote: »

Hi,

My name is Garry and I work for a Shade Greener. My role isto source suitable properties for free solar. If you are looking for free solarPV then please contact me .....

... and the award for solar spammer of the year goes to ..... <extended silence> ..... Garry from ASG :j:j:j

Congratulations, as I write this you have posted exactly the same text 8 times on different threads ....

I suppose that the senior management at ASG have given permission to one of their employees to spam on their behalf ? .... perhaps the day will come that those who use boards such as this will return the favour .... just think, thousands of sales leads for Garry at ASG from which not one successful appointment is achieved .....

Take care when spamming, you might just well get what you ask for & have the compliment returned ....

I'd simply suggest that an apology to forum members is forthcoming, the spam is taken down & you have a word with your line manager in the morning ....

Z

Fletcher_Tangent

The latest scheme from Barclays is a loan to buy PV panles. The installer makes the deal between yourself and the bank and your supply company. The idea being that the loan repayments should be offset by the reduction in electricity bill, plus some feeding expert tarrif.
This is not rent a roof, the panels are not free. You own them from the day they start making electricity.

I am on day 6 of the 7 day cooling off period and have been trying to work out if it's a good thing I have done. Which is why I find myself here. Unfortunately there isn't much user anecdotal material to rely on. I think this is because the scheme (which has no name) is so new.
Hope this helps.

tunnel

Fletcher_Tangent wrote: »

The latest scheme from Barclays is a loan to buy PV panles. The installer makes the deal between yourself and the bank and your supply company. The idea being that the loan repayments should be offset by the reduction in electricity bill, plus some feeding expert tarrif.
This is not rent a roof, the panels are not free. You own them from the day they start making electricity.

I am on day 6 of the 7 day cooling off period and have been trying to work out if it's a good thing I have done. Which is why I find myself here. Unfortunately there isn't much user anecdotal material to rely on. I think this is because the scheme (which has no name) is so new.
Hope this helps.

Then cancel the install, source the panels and the loan yourself and cut the middle man out. A 4kWp solar system can be had for around £5300-£6000 depending on the type of kit you buy. If you have a decent credit rating there's plenty of ways to finance, either 0% purchase credit cards or low rate loans, even added to the mortgage. Don't get scammed by the first person who offers to do the job for you.

Cardew

Agree with the above.


UNLESS


1. The PV system provided is at a competitive price when compared to other systems - get quotes for the same size system usually 4kWp if your roof is large enough.


2. The interest rate is competitive.


3. There are no hidden charges.


I suspect that the scheme will cost considerably more than arranging it yourself; and Barclays involvement is merely to provide a loan.

thenudeone

Fletcher_Tangent wrote: »

Unfortunately there isn't much user anecdotal material to rely on. I think this is because the scheme (which has no name) is so new.
Hope this helps.

There isn't "a scheme". You are borrowing money to buy panels which you hope will provide enough feed-in tariff income to repay the loan.

This has some benefits compared to rent-a-roof (no problem selling the house); but if you are considering moving within 5-10 years it's still not worth it because you won't have repaid the loan before you move, and unfortunately the new seller is unlikely to place much value on the solar panels even though on paper they should, because they give a reliable tax-free income for many years.

Anyone quoting for solar panels is supposed to provide a realistic assessment of income based on very specific assumptions (known as SAP).
Anyone quoting for a loan likewise has to provide accurate information on repayments.
How do these two sets of figures compare?

If you want to install solar panels my guess is that you can get a cheaper quote for installation by searching yourself AND that you can get cheaper finance either by searching for a cheaper unsecured loan yourself OR by extending your mortgage or secured loan.

Combine these two factors and it's almost certain that the best option is to cancel the deal you've signed whilst you still have the option to.

Masomb

I have just been cold called by sem Colchester. Because I ignored the first two calls, when I answered the third call, the guy on the end of the phone was very abusive and used obscene language.
Has anyone else had this . I would like to contact them and would really like an address or telephone number for them!

donJohn

Just had the same thing - not very nice. I get the feeling that they wont care if a complaint is made , but i am trying to find there contact details anyway

RavingMad

Fletcher_Tangent wrote: »

The latest scheme from Barclays is a loan to buy PV panels.

Just curious what the terms of the loan are? I had a call from Solar King telling me the same thing.

jonbey

I just had a call from SEM.

They did not mention Barlcays, just that it was a government scheme.

Sounded a bit pushy though. I said that I was happy for them to come round to survey the house and they asked if my mortgage was joint; it is. They asked if my wife could be home at the time, I said no, not possible.

They said that they could not send a surveyor around unless we were both there. Sounds like they hope to get us to sign on the spot. She did say first visit was survey and then the second is to install. All sounds a bit too hasty for my liking.

I still do not understand how it works (I did start another thread similar). If government are really providing an incentive, why don't they provide a simple to follow process to get it sorted yourself?