solar panel funding

ZanyZoo

Received a call from this company today regarding 'better than free' funded solar panels. Anyone know if this is legitimate?

System

ZanyZoo wrote: »

Received a call from this company today regarding 'better than free' funded solar panels. Anyone know if this is legitimate?

Which company? If it sounds too good to be true, then it is most likely a scheme best avoided.

ZanyZoo

Company called Solar Panel Funding. When I Googled it there seemed to be a few companies offering this scheme but I've never heard of it. You pay back over time with what you save?

footyguy

Might be worth getting yourself registered ith the Telephone Preference Service.
http://www.tpsonline.org.uk/tps/number_type.html

Good luck!

matelodave

It's highly unlikely that you'll pay it back over the money that you'll save if you have to borrow the money to pay for them.

The interest on the loan will take most of what you save

Ningaloo

I thought all these schemes ended last year when the 'green' funding from Government dried up.

System

There is no such company as far as I can see. The website refers to Watts Marketing. The website also lacks any detail about the 'company': for example, no company legal details.

Cardew

ZanyZoo wrote: »

Received a call from this company today regarding 'better than free' funded solar panels. Anyone know if this is legitimate?

These companies usually:

1. Get you to borrow at very high interest rates - even with reputable banks like Barclays.

2. Completely over-estimate how much of the generated electricity you will use in the house. In addition they will 'estimate' that electricity prices will rise with inflation by a huge amount each year.

3. They will also over-estimate how much the subsidies will rise with inflation.

4. They will give guarantees that are generally worthless. These companies will fold and move onto new 'get rich quick' schemes.

If you get details of the scheme, post details on the Green and Ethical' section of MSE forum and you will get advice.

On no account sign anything with the salesman until you have taken advice - it will doubtless be a 'hard sell'.

ZanyZoo

Thanks everyone, I'll steer clear!