Solar panels may give better rate of return than poor interest rates

A renewable energy expert has said that people who are worried about having a weak return on their investments should consider investing in green technology. Harnessun are a leading domestic solar PV specialists, have said that the returns that you can get on regular investments are tiny in comparison with the returns that some green investment opportunities are offering. For people who have installed solar panels in their homes these returns are up to 15%.

Head-quartered in Cheshire, the company has said that many homes are capable of generating a great deal of the electricity they need by installing solar panels. Installing solar panels is even more appealing to customers these days with the prices of electricity rising. Solar panels are a protection against future price hikes.

A spokesperson for the company has stated, “Solar panels offer a cushion between the customer and the cost of electricity. Most people who use solar panels will still need to pay for some additionally electricity, but there bills are usually significantly reduce.

The ‘feed in’ tariff scheme is another good reason for people to install solar panels as the government scheme actually means that users will be paid for the electricity they use from their solar panels, as well as any they generate that goes into the national grid. Additionally any money generated is not going to be taxed.

She added: “Many people still think that because we don’t get lots of sunshine all year round in the UK that solar panels won’t provide enough electricity, but that’s simply not true. The technology works off the intensity of light and even in the cloudiest conditions of the UK there’s enough day light to provide significant levels of electricity for most households anywhere in the country.”

The company does, however, caution savers from taking advantage of ‘free’ solar panels.

She explained: “Some companies are offering free solar panels in exchange for leasing homeowners’ roofs and pocketing the feed-in tariff; but there may be some significant legal issues that can affect householders if they want to move house during the 25-year term of the contract with the supplier.

“Legal advice is absolutely essential if householders are to risk the saleability, value and equity in their home with these free solar panel leases.”

Rebekka said that Harnessun supported calls aired in the recent BBC Watchdog programme for more regulation of the industry.

“As a company, Harnessun operates under the same standards as if providing financial services advice with our ‘Treating Customers Fairly’ policy because we believe people considering solar PV deserve to be treated as if they were buying an investment rather than a home improvement.”

“At the heart of our TCF policy is a commitment to provide guidance rather than advice. We simply present the various options to customers and let them make choose what suits them best.

“Our TCF policy means customers don’t feel pressurised,” said Rebekka.

She went on: “By investing in a solar panel system for a typical 3 bed roomed property people can save almost 7,000 pounds sterling in lower electricity bills over a 25-year period and earn a further 31,000 pounds sterling under the feed-in tariff scheme. The combined benefits are circa 38,000 pounds sterling over 25 years – a much better rate of return than a savings account or ISA at present!”

“In addition, those with solar panels are playing their part in cutting carbon emissions and protecting themselves from future rises in electricity prices.”