Buying Home With Solar PV/Thermal Panels

TrickyDicky101

Martyn1981 wrote: »

Only a minor point, but panels should have no effect on your insurance. Obviously you should inform your insurer if you have them installed, but the only costs I've ever heard of have been admin fees (~£15) for amending a policy during the term, but even that is very rare.

The panels are then covered in the same way that your roof structure is, wind damage, vandalism, theft etc etc.

Mart.

It's dependent on the insurance company - for all the mainstream insurers I have been with what you say has been the case (ie no additional cost) but when I went with a less mainstream insurer a couple of years ago (needed to insure house for business use at the time - not anymore, thankfully) they added an additional premium for the presence of the panels. I think it was c.£20 at the time (this wasn't a policy amendment).

[Deleted User]

anselld wrote: »

Payback on PV is already 7-8 years if self funded so it will be much longer under GD finance. I wouldn't do it and I wouldn't buy someone else's second hand GD loan.

The whole point of GD is that you don't need to take out a loan that affects your credit rating, and you start saving money on your energy bills immediately, and then at the end of it you own some solar panels.

I don't think you understand the point of this scheme.

anselld

DELETED USER wrote:

The whole point of GD is that you don't need to take out a loan that affects your credit rating, and you start saving money on your energy bills immediately, and then at the end of it you own some solar panels.

I don't think you understand the point of this scheme.

I understand it perfectly thanks. it has no point as far as I am concerned.

Johnandabby

DELETED USER wrote:

The whole point of GD is that you don't need to take out a loan that affects your credit rating, and you start saving money on your energy bills immediately, and then at the end of it you own some solar panels.

I don't think you understand the point of this scheme.

You don't actually see the saved money on energy bills though until the GD loan is paid off, as this is paid back to the GD provider.

Personally I don't see the point of installing PV on any loan, GD or not. If you get a good installation price then it can be a better investment than cash in the bank, but if you're closely matching loan repayments with FIT tariffs then there's no tolerance if you get an invertor or panel problem/failure.

[Deleted User]

Johnandabby wrote: »

You don't actually see the saved money on energy bills though until the GD loan is paid off, as this is paid back to the GD provider.

If that happens you are doing it wrong. The idea is that right from day one your bills, including the loan repayments, are lower.

I know some people got ripped off and that turned out not to be the case, but if they did their homework and got a proper evaluation then that's how it works.

Personally I don't see the point of installing PV on any loan, GD or not. If you get a good installation price then it can be a better investment than cash in the bank, but if you're closely matching loan repayments with FIT tariffs then there's no tolerance if you get an invertor or panel problem/failure.

I wouldn't buy any panels or other equipment that didn't have a 25 year warranty.