Free Solar Panels

There has been a surge in the number of companies offering to install free solar panels for homeowners, it is even something Solar Fusion considered offering ourselves.

Free solar panels are certainly a good idea in certain circumstances but ask yourself the question:

Why do companies offer free panels?

Most companies that offer free solar panels have been setup by investment companies or hedge funds. These companies install a 4kWp system made up of circa 22 panels (which rules out 75% of properties instantly) free of charge and they receive the FIT in return (see FIT Page). The customer then gets to use the free electricity that is generated.

Put simply, investment companies use solar panels as a completely risk-free investment that guarantees yield and performance for 25 years – better than any other form on investment available in the UK.

This is where the smart people who are paid very well to manage other peoples portfolio’s are putting that money.

They are basing their investment purely on the FIT. Imagine how much more attractive it would be if the investor benefited from the FIT, benefited from the free electricity and benefited by being able to sell their excess electricity back to their energy provider….

In fact it makes so much financial sense to buy your own solar panels - Which? Magazine recommends taking out a loan to cover the costs to enable people to receive the full benefits rather than install the free panels.

Have a look at the pro’s and con’s below to decide whether free panels or your own system is best suited to your needs:

 PRO’s:

*     No Charge

*     Limited Free Electricity

 CON’S:

*     Cannot sell excess electricity

*     If electricity not used immediately it is lost

*     75% of homes not suitable

*     Tied into a contract where you lease your roof to them for 25 years

*     Need their permission to sell your home at any point during the 25 years

*     Potential buyers must agree to take on the remainder of the contract which could put buyers off as deemed undesirable

 Solar Fusion is an ethical company and after looking into the option of installing free solar panels, we have decided against it. Instead we have created the Solar Fusion Green Card which enables customers to purchase solar panels and enjoy all the benefits without having to find a lump sum to pay for the installation – just monthly installments.

For further information, please use the contact form above.