Solar panels have always been expensive. As a result, only a small number of people have decided that the potential energy savings are worth the initial cost of buying and installing them. Isis Solar is hoping to change that. Last month it hit the headlines by announcing that it is to start handing out the panels for free – saving you the £11,000-£15,000 the average PV solar panel system costs to install. And that’s not all: Isis will fit and maintain them for 25 years, too. All you need to qualify for this fabulous-sounding deal is 24sqm of south-facing, completely unshaded roof space. 

What’s the catch?

Obviously, Isis Solar isn’t doing this out of the goodness of its heart. So what’s in it for them? Feed-in tariffs. Back in April a new scheme was launched whereby the government, via the utility companies, pays cash to anyone generating energy from a small-scale renewable schemes at a set level for a long period (25 years in the case of solar, read more on this here: Will solar panels pay for themselves? It’s no small amount of cash either – it can add up to between £900 and £1,450 per year. But go with Isis and you won’t get it – Isis will. And that isn’t particularly financially efficient for you.

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If you install the panels yourself, you’ll get the Fits for yourself as well as the reduced energy bills: note that, nuts as it may sound to the average tax payer, you get paid for all the electricity you produce even if you use it yourself. It may cost you a bit up front, but the cash from the government means you should have earned back the cost of the solar panels within ten years, says Miles Brignall in The Guardian. Banks are also beginning to get wind of this and some say they may be prepared to lend money towards installation. That might be worth looking into.
 
You may still think that the Isis deal is a good one. After all, you do get a reduced bill, and without any upfront costs. That may be so, but before you sign up, be prepared for some disappointments. PV solar panels can create electricity from daylight rather than sunlight, so even on an overcast day they should produce something. But the problem is electricity produced this way cannot be stored, so if you don’t use it immediately it will be fed back in to the national grid. This means that only the electricity you use during daylight hours will be part-provided by your panels. The rest of your electricity will still come from your energy provider, and you’ll have to pay for it. So unless you are home a lot during the day, you won’t see a huge reduction in your bills.

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