Solar panels

[pvr]

Just been having a number of companies coming around to discuss installing a 10 kw system as the government is guaranteed to pay a substantial amount each year, for 25 years giving about a 10 - 13% return on investment and a ROI in about 7 years. The reduction in elec bill would be a nice one as well (few thousand a year at the moment0>

Sounds like a good investment to me so far instead of a bank return of about 3%. Anyone has any experience with this one?

[Rusty]

Yes, and bailed out.

Basically unless you buy the solar installation outright, you are agreeing to rent your roofspace for the 25 year period.

Troubles occur should you wish to sell before the end of the scheme. Dependent on the contract, you may have to ask permission to sell the roof ( with attached house ) or transfer the remaining contract to the new owner. Should said owner not wish to have the solar system, it will cost to cancel and or remove the installation. The solar technology isn't bad, but will be superseded in the next 5 years with a more efficient system. The return you receive really isn't fantastic on the gov scheme either, and the only real winner is the receiver of the FIT payment.

Just my opinion / understanding, but entirely up to you and your circumstances.

Hth


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[pvr]

I would buy outright. 30k investment with 10 percent return sounds ok or not?

[Rusty]

As an out right buy, yes it can be a good investment, definitely better than any high street bank

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