Solar panels – are they for real?

There is a lot going on in the world of Solar PV at the moment.  Is it real or just hype?

For the next few months at least it does appear that there are good deals to be had.  It boils down to whether you have the cash or not.

If not you can effectively rent your roof to the energy supplier and they will take the funding from the government to pay for the panels and pay towards your electricity costs.  You are doing your bit for reducing global warming but not making much from it.

The most lucrative way is if you have the cash.  You need around £10k which is currently languishing in a bank account earning minimal interest.  Its not worth borrowing the money but if you have it to spend, the current payback from the government funding could give a real return of 8-12% over 25years index linked and tax free.

You will need a roof area to take around 8 to 12 panels and which faces on or near due South.  Shading of the roof is bad and makes the deal more marginal.

The further north you are only makes a marginal differnce as long as the factors above are good.

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