Why are companies offering you free solar panels? Because they want your lucrative Feed-In Tariff payments
You may have heard of companies that offer to install solar panels on your property for free. As life has taught us there?s not much worth having if you don?t have to pay or work hard for it, what?s the catch?
It all comes down to the financial rewards you are eligible for when you install Solar PV on your home, known as the Feed-in Tariff.
In order to meet carbon emissions targets for the UK, the government will pay out generously to anyone who switches to renewable electricity by installing Solar PV. The Feed-in Tariff payments are tax free and rewarded annually for 20 years, but only if the system is owned by you and not by a company installing free solar panels.
FiT payments can achieve a 12% ROI. Don’t give that to someone else!
Free solar panels are a way for companies to claim your Feed-in Tariff rewards, so it’s worth asking yourself if companies are willing to do this, then surely that means these payments must be extremely attractive? The answer is yes: at the current rates, Feed-in Tariff payments, along with bill savings and export tariffs, achieve up to 12% return on investment in many cases, so it makes sense to buy your own Solar PV and keep the Feed-in Tariff for yourself.
The good news is, despite many people believing they’ve missed the boat, the Feed-in Tariff is alive and well. Solar PV prices have dropped by around 50% and making to switch to renewable electricity is now more affordable to all.
- If you would like to know more about the pros and cons of free solar panels, or would like a free renewable energy survey of your property, call EnergyMyWay on 0845 371 3181 or email us email@example.com.