Financial and Purchasing options of Solar panels

Purchasing options for solar panels
Buy them outright with cash

    If you have the capital available and you wish to invest you can make a generous profit with the Feed-in Tariff. You can earn up to £13,000 over 20 years with a 3kW system. That is a healthy income of £450 per year and savings of £200 on your electricity bills.

Take out a loan to cover the cost

    If you don’t have the capital then the second option is to get a loan to pay for them. This method will allow for a longer term investment but will still offer significant financial reward and offer the comfort of protection from rising energy costs. The loan and cost of the system should break even around the 10 year mark, offering a further 10 years of income and savings.

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Install free solar panels

    This option for free solar panels is available to those people who either cannot take out a loan or don’t want to pay the high upfront costs associated with the initial purchase of the system. The maintenance costs are taken care of, but you will not receive any of the FIT payments for the 20 year period. You will however benefit from all the electricity they generate and if your home uses a reasonable amount of electricity during the day, then you will realise these benefits with up to a 50% reduction in your electricity bill.

Try the Green Deal

    The Green Deal is a government run financing scheme that has been set up to help you make energy saving improvements to your home or work place. It enables you to make these energy saving improvements without having to pay for it all upfront.

Finance options for Solar Panels

There are a number of companies offering finance for solar technology in the United Kingdom. Finance, in the form of loans and leasing agreements, is available for domestic, commercial and industrial installations, in both the private and public sectors. Finance for renewable energy technologies allows customers to avoid large upfront costs and make payments out of the income from Feed-in tariffs, as well as energy bill savings.

Finance may be offered on a range of bases, each offering varying levels of financial risk and reward, as well as varying interest rates. Typically the finance company will provide the renewable energy technology and the cost of installation in return for payments spread over a period of time. Depending on the type of agreement, the client may either come to own the technology at the end of the period, it may be sold by the company with the proceeds being split between client and company, or the company could retain it.

The arrangements offered by finance companies will vary, however, and each company will offer different advice. It is therefore advisable to obtain quotes and agreement terms from a range of companies, based on clients' energy needs and financial situation. Caution should also be taken when calculating one's ability to make repayments, as the returns offered by some renewable technologies depend in large part on the weather.

In some cases installation companies also offer finance solutions. Some companies also offer the free solar or rent-a-roof schemes discussed here, whereby a company will pay for the installation of a solar PV system on the roof of a home or business. The company will usually receive the Feed-in Tariff income, while the property owner will benefit from reduced energy bills and carbon emissions.

Look Here for some UK companies offering finance for renewable technologies.

Solar panel buying options:How much do Solar Panels cost?

How much do Solar Panels cost?
Solar Panel Costs: What You Need To Know

Of course, one of the main things people want to know is the cost of their new solar panel system. The average installation will set you back between £3,000 and £8,000 depending on the size of your roof, the efficiency of your system and the core components used. You need to add into this that your solar panels system is actually an investment which can save you money on energy bills and make you extra cash from the government’s Feed in Tariff.
The Cost of Solar Panels Has Come Down.

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Like most new technologies, the more development and investment there is, the more the price starts to come down. A 4kWh system that would have cost you around £10-12,000 a few years ago will more likely set you back just £7,000 today. How much the price is set to decrease in the future will depend on a number of factors, of course, including:

    The supply and demand of solar panels.
    Improved installation processes.
    Greater innovations and more cost effective manufacturing processes.

As with most building and construction work, having a shop round is the best advice for the getting the right price and, more importantly, the right solar panel system for your home or business.
Solar Panel Cost Case Studies

There are a lot of factors that go into calculating the cost and savings, including the size of the roof, the particular photovoltaic cells used and the number of panels needed to create a credible return on investment that provides an income from the Feed in Tariff (FiT) and reduces the fuel bill.

The following case study is for an average sized semi-detached house:

    House type: Semi-detached
    Solar panels: 2.45 kW
    Number of panels: 10
    Cost, including installation: £6,450
    Estimated annual output: 2060 kWh
    Estimated annual FiT each year: £892
    Estimated savings on fuel bills: £124

For bigger houses, the price of installation is obviously greater but the cost savings are also better. Here is an estimate for a large size detached house in Teeside that used the most efficient solar cells:

    House type: Detached
    Solar panels: 4 kW
    Number of panels: 16
    Cost, including installation: £8900
    Estimated annual FiT: £2,100
    Estimated annual output: 5,680 kWh
    Estimated saving on fuel bills: £180

Obviously, a lot depends on usage when it comes to savings. A large family are likely to devour more energy than a house with just a single occupant.

Environmental benefits of solar panels

As mentioned earlier solar panels have been proven to pay for themselves in regards to the carbon and energy used and released during their creation. What is often overlooked is the other positive effects that their existence and continued usage has on the world around us.

The primary benefit to our planet is that they steadily reduce our reliance on mainstream Industrial power generation. When fossil fuels are burned both particulate matter, carbon dioxide (and if the combustion process is inefficient, carbon monoxide) is released into the atmosphere. Many fossil fuel power stations have methods to try and curtail these by-products, but these systems only reduce the resultant emissions marginally.

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How to Make Your own solar panel free full guide here>>>>

Although nuclear power generation is often seen as a ‘Green Energy’ many would argue otherwise. Nuclear power generation creates large amounts of highly toxic waste during its operation, which takes an enormous amount of time to degrade to acceptable levels, so as a result the large volumes of radioactive waste have to be stored somewhere safely. Other than the disposal and recycling of the materials contained in solar panels there is no harmful waste produced during their operation.

     “PV electricity contributes 96% to 98% less greenhouse gases than electricity generated from 100% coal and 92% to 96% less greenhouse gases than the European electricity mix.”

    “Compared with electricity from coal, PV electricity over its lifetime uses 86 to 89% less water, occupies or transforms over 80% less land, presents approximately 95% lower toxicity to humans, contributes 92 to 97% less to acid rain, and 97 to 98% less to marine eutrophication.”

    Carol Olson, researcher at the Energy Research Centre in the Netherlands

Earlier this year enough capacity was generated by solar photovoltaic panels across the globe to power over 30 million households. That’s a saving of more than 53 million tons of carbon dioxide annually, proof that the expanding industry is helping combat global warming and helping to reduce our negative effect on our environment.

What is the Green Deal for solar panels?

What is the Green Deal for solar panels?

The Green Deal for solar panels is a government run financing scheme that has been set up to help you make energy saving improvements to your home or work place. It enables you to make these energy saving improvements without having to pay for it all upfront. You still have to pay back the full amount over time; the Green Deal is a loan not a grant. However, the idea is that the savings you make on your energy bills will cover the costs of the loan repayments whilst lowering your carbon footprint. You can also choose to pay for the improvements in advance using the Green Deal providers and certified installers. The Green Deal is available for a variety of install types and technologies including, insulation (cavity, loft or solid wall), heating, draught proofing, double glazing and renewable energy generation methods like solar panels and heat pumps. By taking a Green Deal you could well be protecting yourself from future energy price rises.

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How to go about benefiting from the Green Deal.

1: Check if your home or business is likely to benefit from the Green Deal below.
Your building is applicable for the Green Deal if one or more of the following applies;

    Your building wasn’t built in the last three years.
    The walls and or loft are not insulated.
    You have an old boiler and no heating controls.
    You are interested in renewable heating or generating your own electricity through renewable means.

2: You can get a Green Deal assessment of your home or business to see what improvements you can make and how much you could save through these improvements.
You can contact us to find out more about getting your property assessed by a Green Deal assessor.
You can use this assessment tool to see if your building is applicable for the Green Deal loan scheme. There is usually a charge of between £95 and £150 for an assessment so it is highly recommended that you do this before asking an assessor to come and check your building.

Full Guide of How To Make Your Own Solar Panels here>>> 

3: You will then need to decide how you are going to pay for the improvements. There are two main ways to pay.

    You can have a loan to fully cover the costs of the improvements so you don’t have to pay them in advance. You will have to pay the loan off in instalments that are added to your electricity bill. These instalments are based on what a typical household is expected to save once the work has been carried out. These costs will be shown on your Green Deal finance plan, which will include interest rates. This is the contract that will exist between you and your energy provider. Although this is generally worked out by how much you are saving so that your overall bills do not increase, the actual increase or decrease of your energy bills will still depend on factors such as energy price increase and the manner in which you use it. The Green Deal stays with the property so you won’t have to continue paying the loan if you move. You can pay back the Green Deal loan early although some energy providers may charge a fee for this service.

    Alternatively you can pay for the loan upfront as long as a Green Deal assessor has organised it and the work is done through a Green Deal provider. By doing this can you avoid the interest costs but are still eligible for the governments ‘cashback’ scheme featured below. This means that even if you are paying in advance, you will need to contact an energy provider not an installer to be eligible for the cash back after the work is done.

Full Guide of How To Make Your Own Solar Panels here>>> 



These are rates for England and Wales. They're guaranteed for the first £40m of cashback, but the rest of the promised £125m could be at lower rates.

The bullet points below are designed to give answers to frequently asked questions and to give some more tips on getting a Green Deal loan.
If you need any further information at all then don’t hesitate to contact one of our team through the ‘contact Us’ tab on the right.

    As a landlord you must get your tenants permission before you go ahead with any improvements. Likewise, if you are a tenant you must get your landlords permission before making any improvements. (this also applies to social housing)
     Be mindful that if the energy demands of your property drop there is a possibility that your bills could work out more expensive. Although this is very unlikely due to the conservative nature of the initial assessment.
    Shop around for a cheaper assessor fee as this charge could vary dramatically.
    Make sure you do a home assessment check before paying for an assessor to come out to your property.
    Check if your local authority is offering cash for assessments. The Government put up a £20 million fund for local authorities to apply for funding and promote the Green Deal in their area.
    Check if the company offers the initial assessment fee back if you go ahead with the work as we have found that some do.
    In Scotland you can get a maximum of £1200 through the cashback scheme. However, for a limited period you can claim your assessment fees back. For more information on the Scottish Cashback scheme click the text.
    If you live in a cold house and worry about turning up the heat this scheme should help you turn up the heat at less cost.
    The loan is attached to your home, not you, so if you move the next owner pays the bill. As this is a fairly new scheme we have yet to figure out how it affects property prices.
    You can still benefit from the Cashback scheme even if you pay the loan off straight away.
    The loan is ‘unsecured’ which means that the loan provider can’t take your property if you can’t repay the loan.
    The interest on the loan is variable depending on its amount and length so check how much a range of providers will charge.

Full Guide of How To Make Your Own Solar Panels here>>> 
    If you decide to pay a loan back early, especially on a 15 year loan, your provider could charge you for compensation. Check your provider’s policy on this before entering a contract.
    If you are on benefits or if you are looking for insulation you may be entitled to free cash. Contact us using the ‘Contact Us’ form for further info on this.
    You only need one assessment so get at least three quotes for the work. You can haggle the price on install with the installers; often you will be able to get a better price by offering less than the quoted price!
    Combining improvements can make Green Deal loans more affordable. As the amount you pay back is directly related to the amount you are saving, combining improvements such as insulation and solar panels can lower your energy needs and end up costing you no more than you are currently paying on your energy bills. You will still be able to benefit from both improvements.
    You can still switch energy provider. All the big six energy providers are offering the Green so you can switch between them and continue to pay your Green Deal loan off as you were doing. Check everything with both providers first to ensure that there are no further costs.
    If your Solar panels (as an example) break after the warranty has run out and before the Green Deal loan is paid off you may still have to pay for the panels.
    The Green Deal has very strong consumer protection rules. Make sure you go to the Ombudsman if you are given any bad advice. You can either visit the Green Deal Ombudsman site or call 0800 023 4567.

The Green Deal certainly seems to be a good move for those looking for Solar panels who can’t afford to pay for them upfront. Your home or business will generally benefit from the improvements covered by the Green Deal initiative. This said, always look into the details as much as possible before making up your mind and always ensure you are with the cheapest provider.
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The Different Types of Solar Panels

We are used to seeing solar panels on the rooftop of a house, glinting in the sunshine, collecting energy and converting it to heat and electricity. What you may not know is that there are different types of solar panels that you can choose from.

Solar panel technology has come a long way in the last few years, driven by our need to provide more renewable energies that reduce our reliance on fossil fuels and other less carbon-friendly processes.

Standard Solar Panels

The most popular and easily recognised product on the market, solar panels are usually the first choice for many households. They can be precisely positioned so that they get optimum sunlight and are easily fitted to your roof with brackets (normally made from aluminium). Because they can be placed more accurately, they often yield a much higher return on investment due to greater efficiency.
 
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Thin Film Solar Panels If you are looking for something lighter to put on your roof then thin film solar panels may be the best option. They take up about 10-15% of the market and require more space than normal solar panels because they are less efficient. The other issue that may need to be considered is that thin film solar panels often contain cadmium telluride which is considered a toxic substance and needs to be disposed of carefully at the end of its lifetime. The main benefit of thin film solar panels is that they are more flexible and can be produced in a range of formats including foldable and rollable. It makes them useful for a wide range of things such as providing electricity for a caravan or tent.


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Tempered vs Plate Glass Solar Panels: When choosing solar panels most people tend to think about the power and the efficiency savings before they consider the kind of glass incorporated. The glass, however, is also important. Going for tempered, or strengthened, glass over plate glass can make all the difference to the longevity of your solar panel array. Whilst tempered is more expensive it can offer greater long term savings.


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Size and Wattage of Solar Panels A number of things are going to determine the size of your array. First of all, the power that you need for your house or business. Secondly, the size and suitability of your roof. And thirdly, the quality of your solar panels. Whichever you choose, you are going to have a necessary trade-off between affordability and efficiency. For the average domicile in the UK, you will probably need a 3kWh system that will cover an area of 21m². The more efficient the cells in your solar panels the less space you need to cover to provide the power you need. How Do I Find The Right Solar Panels for Me? Choosing the right options can often seem very complicated for the complete beginner. As a rule of thumb, the initial outlay for a solar panels is going to be in the region of £3,000 for a small system to around £8,000 for a larger one. You need to add into that considerations like the feed in tariff and different ways of financing your project.

Use Free Solar Panels - How you can Get them?

If you don’t want, or are unable, to pay the upfront costs of installing solar panels, many companies are now offering it free as long as they can benefit from your precious Feed in Tariff (FiT). These are often called Rent a Roof or Free Solar schemes and are attractive options to home and business owners who want panels installed and to benefit from cheaper bills, without the burden of the initial outlay cost.

You might believe that you get nothing for free in this world, so it’s worth taking a closer look at Rent a Roof Schemes.

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How to Make Your own solar panel free full guide here>>>>
How do free solar panel installations work?

Solar panels benefit from the Feed in Tariff which means any energy they produce is bought by the grid and the profits returned to the owner. For most people looking to install solar panels it is one of the attractive features – earning a steady, often tax free, income and offsetting the initial cost of putting it in. With free installations, this Feed in Tariff benefit goes to the company.

Free Solar Panels

The pros of free installation:

    Benefit from lower energy bills.
    Reduce your carbon footprint.
    No outlay. It’s free.

The cons of free installation:

    You don’t get the Feed in Tariff.
    You can be tied into a long contract.
    You have no protection if the company goes out of business.
    Questions will be asked by mortgage companies should you should want to sell or remortgage your home.

Paying up front for your solar panels system is still the most cost effective and better long term investment if you want to make the most of an installation, but, if you want to just reduce your bills and be more carbon friendly, it is a good option if you don’t have the money. One thing to keep in mind is that energy bills are set to soar in the next few years and having a free installation may go some way to negating this.

According to a Which? survey a little while ago, the potential profit for a 4 kW system over 25 years, if you have made the initial payment up front, could be as much as £23,000. The possible savings on electricity from the panels would also provide an approximate saving of £5,000. If you had a Rent a Roof contract, you wouldn’t see that £23,000.
Check the Contract Carefully

We all know that contracts need to be read properly, but few of us bother to do it.

With something as long term as a free solar contract you need to make the effort. Some contracts have stipulated that home owners need to ask permission if they want to sell their property. If you want to remove the panels for a period of time to do repairs, you might have to compensate the company for loss of income. And, of course, if you want to sell your house you have to find someone who is willing to take on the contract.

If you don’t have the money or don’t want to take out a loan, then a free solar offer may be the right choice for you. You must make sure, though, that you both take legal advice and explore fully the type of contract you are getting into.
Not Everyone Gets Free Solar Panels

Just because free solar panels are available doesn’t mean that you’ll get them. Most installers who offer the scheme will need to check your property. If the roof size is too small, or they don’t think they will get a sufficient return on their investment, then they may well turn your property down.
Checklist Before Getting Free Solar Panels

It’s not simply a question of signing on the dotted line, you still need to do some work before accepting a Rent a Roof or Free Solar deal. This includes:

    Check with your mortgage provider first – they may not agree to the installation and might have concerns about the nature of the contract.
    Ask the right questions from the installer/company – in other words, do all your research and make sure you know what you are talking about.

Check your contract carefully and get the right legal advice. You are signing a 20-25 year contract so be aware of what you are getting into.

    What if the free solar company goes bust?
    Check who is responsible for repairs to the roof and/or solar equipment.

Other Options to Think About

If you can manage it, find the resources to pay up front for your installation. It gives you a better long term investment and more control over the future of your solar panels.

Find out more about eco finance for your solar panels.

If you think that you won’t be able to get finance to cover your solar panels project, then you might like to consider the government’s Green Deal loan scheme that can help fund renewable energy projects.

Can I build my own solar panel system?

It is possible to build and install your own solar panel system, and often the cost of doing so would be much lower compared with the prices charged by professional solar panel installers.

MCS-Certification

This certification must be carried out by an MCS-accredited engineer, who ensures that quality and safety standards are met. Certain MCS-accredited engineers may be willing to certify your DIY solar panel installation, although many will be reluctant to certify a system that they didn't install themselves.
DIY solar panel kits

Some companies offer DIY solar kits, which include all of the necessary hardware (solar modules, inverter, generation meter, brackets, cabling etc). In order to be qualify for FiTs, however, the project will need to be administered by an MCS-accredited tradesperson, and the total cost of this option may not be much less than the cost of a full installation by a solar company.

Building and installing solar panels yourself is still a viable option if you plan on using all of the energy produced by your solar panel system or if your property is off the grid, although the financial rewards will be significantly lower given the lack of the FiT generation and export tariffs.
Full Guide of How To Make Your Own Solar Panels here>>> 


Full Guide of How To Make Your Own Solar Panels here>>>