Project solar experiences..???

PAPRIKA959

Hi All, first up I know this has been covered a little earlier in the year, but just wondered if anyone has any experiences of 'project Solar' they can share.

We've just had 'Surveyor/Sales' bloke over to do his bit, ands although the figures as regards savings etc. all sounded great.. I constantly seemed to hear alarm bells ringing in my head for various reasons..

The Pro's:
•The products on offer all seemed good and made perfect sense
•The savings calculations were impressive

The Neg's
•The finance packages were all a bit vague and the basic APR of 9.5% was unbelievably high
•We weren't allowed to se any of the finance equations (similar to the stupid tricks car salesman try), and then given a load of flannel as to why
• The energy savings calls were only given verbally, again we weren't allowed to have anything in writing aside from some hand-written note from the sales guy

It all seemed (at face value) to be quite impressive, but I seemed to have this constant feeling if I signed I'd regret it pretty quickly.

Any feedback or comments from MSE users would be gradually received.

Cheers all

silverwhistle

Go with your instincts!

Many of us on here paid for our own, as any finance offered (as with cars) is designed to make them money. If they aren't prepared to put anything in writing (and even then) avoid like the plague.

Not sure of current prices but people on this board have (in some locations) managed to get a 4kWp system installed for approaching £4.5K and definitely £5K. I paid only £6k and that was three years ago, with panel prices since down considerably. HTH.

Martyn1981

PAPRIKA959 wrote: »

Hi All, first up I know this has been covered a little earlier in the year, but just wondered if anyone has any experiences of 'project Solar' they can share.

Hiya Paprika, no experience personally of project solar but a search of Google or MSE, or perhaps Google & MSE (to find specific discussions on here, should work.

However, diving straight in - don't do it! I'm willing to bet, without any numbers from you, that it's a bad deal.

Why? Well, first off these 'pay for solar with your earnings' deals always seem to be overpriced, and secondly the income to expenditure is so tight these days that finance won't work, unless it's dirt cheap.

Go with your gut on the alarm bells. Folk who have asked about such deals before, or who have found they don't work, often talk about huge savings (which would cover the loan repayments) mostly based on overhyped leccy savings, which in turn are then compounded up through the stratosphere with ridiculous inflation claims. But ......... here's the biggie that jumps out at me ...... the paperwork they get doesn't include the wild claims, sound familiar:-

PAPRIKA959 wrote: »

•We weren't allowed to se any of the finance equations (similar to the stupid tricks car salesman try), and then given a load of flannel as to why
• The energy savings calls were only given verbally, again we weren't allowed to have anything in writing aside from some hand-written note from the sales guy

So I'm willing to guess:
that the price you got was too high,
we already know the finance is too high,
that the amount of leccy (kWhs) saved will be too much,
that the value of that leccy will rapidly grow out of all rationality.

As silverwhistle says, you need a good price, so chat away and have a ponder.

For some sensible numbers have a look at the PV FAQs that a number of us PV'ers put together - there was no industry involvement, and obviously we don't benefit either way if you get PV or don't.

Have a read of section 1. Then section 5 to work out what generation you'll get. Don't be intimidated by PVGIS, just pop in your location (zoom down to your house), PV size and approx orientation, leaving everything else alone. You can fine tune it later with an accurate orientation and roof pitch.

Armed with a generation figure you can work out your income (FiT x generation plus export x 50% of generation plus £120 (or so) for leccy savings).

With an income figure, you'll be better able to judge the price you'll need to pay for the PV system.

If there's anything you don't understand just ask, and we'll be happy to explain.

You might want to read some of this thread regarding loan backed PV installs with 'dodgy' sales info. The business has since closed.

I've been a massive fool...My planet UK Solar.

That doesn't mean 'your' guys are doing anything wrong, but if you see (smell?) any similarities, then be careful.

Mart.

tunnel

PAPRIKA959 wrote: »

•The finance packages were all a bit vague and the basic APR of 9.5% was unbelievably high
•We weren't allowed to se any of the finance equations (similar to the stupid tricks car salesman try), and then given a load of flannel as to why
• The energy savings calls were only given verbally, again we weren't allowed to have anything in writing aside from some hand-written note from the sales guy

Cheers all

If you can buy the system yourself then do so, luckily for you, you posted on the MSE site where you can find the info for loans of less than 4% if you can't afford the outlay yourself.
http://www.moneysavingexpert.com/loans/cheap-personal-loans
Or even 0% credit cards(dependant on your circumstances)
http://www.moneysavingexpert.com/credit-cards/best-0-credit-cards


If you are seriously thinking about solar, if I can offer any advice it's to read, read and read some more on the green and ethical part of the forum where there's mountains of information and plenty of eager beavers to offer up advice.

PAPRIKA959

Many thanks both for the info.. confirmed my suspicions.