A solar panel company is advising people that they can save more money buying their own solar panels than using the new “solar for free” offered by some companies.
Lancashire-based BSOLAR is recommending people who want solar panels to buy them as the financial rewards will be triple that of the solar for free schemes.
Peter Bladen, managing director of BSOLAR said: “People who opt to get solar panels installed for free will save about £110 off their electricity bill each year whilst the companies who install the panels will earn around £835 annually.
“You are much better off if you pay for the panels yourself and gain all the benefit.”
There has been an explosion in the installation of solar panels since the government brought in the new feed in tariff scheme. This guarantees homeowners 41.3p per kWh (kilowatt-hour) of electricity they generate from renewable sources, which is about four times the market cost of electricity.
This means homeowners are getting a guaranteed income every year from the solar panels. The income is also on energy generated, irrelevant of its use in the home. This means that the homeowner will also get free electricity during the day when the solar panels are generating power.
Bladen added: “The average system costs around £10,000 and will generate an income of around £800 a year, which under the feed in tariff scheme is guaranteed for the next 25 years. So the average system will pay for itself in less than 12 years and give a return of at least £10,000 profit over the 25 year period. This also excludes the free energy it provides during the day.”
He added: “My advice to anyone considering solar panels is why take up the solar for free offers when you can be better off by thousands of pounds by paying for the installation yourself.”
Dave, Selby around 8 months, 3 weeks ago