Written by: Robert Costart
Updated on: 26 October 2024
Written by: Robert Costart
Updated on: 26 October 2024
Understanding Rent-a-Roof Solar Schemes and Their Impact on Your Savings
Understanding Rent-a-Roof Solar Schemes and Their Impact on Your Savings
What is the Rent-a-Roof Scheme?
The Rent-a-Roof scheme provides homeowners with solar panels installed at no upfront cost. Instead of paying rent for the roof, homeowners benefit from reduced electricity bills while installers profit by selling excess generated energy back to the grid under the Smart Export Guarantee (SEG) (Solar Energy UK, 2023).
The scheme's allure diminished significantly after the Feed-in Tariff program ended in 2019, which previously incentivized installers to offer free panels. With solar prices dropping significantly—now around £7,026 for a 3.5 kW system—installers find less financial benefit in Rent-a-Roof schemes (UK Government, 2023).
Declining Popularity: The Shift in Solar Funding
Is Rent-a-Roof Worth It? Pros and Cons
While the Rent-a-Roof scheme enables homeowners to cut energy bills by up to 49% and benefit from renewable energy, it has drawbacks. Fewer installers offer it today, and homeowners will not see profits from selling excess energy (The Energy Saving Trust, 2023). Solar panel ownership provides more autonomy and potential savings in the long run.
The Impact of Buying a Home with Rent-a-Roof Panels
Purchasing a home with Rent-a-Roof panels can complicate your mortgage process. Lenders may restrict financing due to lease obligations tied to the solar system. Always review the lease details with a legal expert before making an offer (Homes England, 2023).
Understanding Rent-a-Roof Solar Schemes and Their Impact on Your Savings
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