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Solar panels-lease or buy?

(11 Posts)
Dashper Mon 06-Nov-17 10:06:37

Does anyone have experience of owning or leasing solar panels?
We're thinking of getting them for the renewable energy. DH wants to own but I'm not sure the cost and maintenance would make it worth it.
We plan to stay in our house for at least the next 15 years.
I'm not worried about the legal bits.

notapizzaeater Mon 06-Nov-17 10:17:41

We bought ours with a loan and they are cost neutral, think we make about £20 profit a year - obv as the loan is paid down we will be making more.

SilverSpot Mon 06-Nov-17 10:17:56

Having leased panels on your roof makes it less attractive when to buyers. Usually a 20 year agreement.

Ilovelampandchair Mon 06-Nov-17 10:19:49

But buy buy! Can't remember exactly but I think there is an issue with another organisation essentially owning your roof. We bought ours at a good time and within 5 yrs they'll be paid off and we'll have 15yrs of guaranteed £1k profit from them per year.

Dashper Mon 06-Nov-17 10:25:50

Thanks folks. Buy it is.
I only see the houses once people have decided to buy them (property solicitor), so I had no idea how much the lease would put people off.

Ilovelampandchair Mon 06-Nov-17 10:29:27

Leasing also you just don't make much money/benefit from them if I remember correctly. I'm not sure what the current rate from the Gov is per unit of energy but it has definitely dropped since I bought meaning it's not so easy to pay them off so do sit down with a solar power company to go through the projections before deciding. Also be wary of cheap panels from China vs. good ones from Germany etc. Efficiency is different.

PigletJohn Mon 06-Nov-17 18:12:21

The subsidy keeps dropping, and IMO it is not a paying proposition to buy them.

Although the return is more than the 0.1% interest your bank might pay you, it is far less than the interest on your mortgage or any loans you might have, and lower than the growth your pension contributions or other staid investments are likely to earn

I'd say, only get them if you still have thousands burning a hole in your pocket and you have already paid off your mortgage, got a rainy day fund tucked away, have fully funded your pension, and have no loans.

specialsubject Mon 06-Nov-17 19:28:46

...or if you think that the UK energy grid is underpowered, and there is suitable storage battery technology.

The former is true, the latter isnt yet.

decentchap Mon 06-Nov-17 19:36:41

We bought with solar panels installed so OWN. We also have an Electric AGA, the one pays for the other. We have an immersion heat boost which takes from the solar output. Cost the previous owner £8k for 24 panels and we recoup between £70 - £300 per quarter (seasonal and use variations) dont lease - absolutely recommend buying.

Alicetherabbit Wed 08-Nov-17 14:31:41

@specialsubject the battery technology may not be hear yet, but my crystal ball says it won't be long, that's why we are still installing eco technologies, eg solar and ground heat source for future proffing

specialsubject Wed 08-Nov-17 19:45:56

Let's hope so. The ship has sailed for subsidies but I'm waiting for prices to drop further.

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