Free Eco Solar Panels
Free solar panels really do exist, but do come with a bit of a catch. Find out what's in it for you and what's in it for the companies providing them.
What are Eco Solar Panels?
Eco solar panels convert energy from natural sunlight into electricity. They are able to do this as the materials used on the cells are able to absorb the energy, or protons, from sunlight and convert it to an electric current. This current is then multiplied throughout the solar panel cells to generate electricity.
The electricity created is renewable and is being touted as the future electricity supplier. However, they cost between £4,000 to £12,000 to install. This may put many people off but there are several companies which offer Eco solar panels for free. We will look at how they can do this and the potential benefits and disadvantages of the deal.
What's in it for the Company?
In 2010 the UK government introduced a payback system for solar panels owners. The Feed-In Tariff scheme, as it is called, pays owners for the electricity produced by Eco solar panels even when this is used within the property.
Average households can receive in excess of £1,000 a year. Companies offering free solar panels will, in return, take these payments. The scheme is backed for at least 25 years so the company will at least double their initial investment.
What's in it for me?
Solar panels will reduce your electricity bills substantially. You will still need mains electricity as the panels will not work at night but they generate energy all year round in the day. Insurance and maintenance costs will often be covered by the installation companies. People are also attracted to solar panels due to their environmental benefits.
Are there any Drawbacks?
In effect the installation company will be making a profit out of your home. Not everyone finds solar panels attractive which may prove a problem if you ever wanted to sell your property. It is much more financially rewarding to pay for the installation yourself and reap the benefits in the long run.
Eco solar panels can be installed on to suitable roofs for free by a range of approved companies. There are significant benefits to this including cheaper electricity bills and reducing your carbon footprint. However, due to the government backed Feed-In Tariff Scheme the installation company are the biggest benefactors in the deal.
They are guaranteed to make a substantial profit on your property. The Feed-In Tariff scheme is so profitable it is much better, if possible, to install solar panels using your own funds and reap the rewards over 25 years. To find how little such a system could cost you, please get in contact with one of our Eco Experts using the form above or calling 0207 424 3132.