09 Aug 2010 11:08:04
New solar panel scheme launched
HomeSun has claimed that its new scheme to provide 100,000 homes with free solar panels will help bring solar power to grid parity.
The company plans to install solar photovoltaic panels for free in some 2,000 properties over the next 12 months, allowing homeowners to generate their own electricity without the upfront cost.
Funds which would have then been paid to the homeowner through the feed-in tariff scheme will go to HomeSun to cover the cost of the technology.
Daniel Green, chief executive officer of the company, said: "We will take the long-term payback and we will stand by you for the 25-year period, but you are generating electricity beyond [that] because the solar panels remain on your roof."
However, he added that anyone who chooses to install the £10,000 to £15,000 of equipment themselves would typically see a return on their investment within 12 years.
Mr Green also claims that the scheme will help solar power in the UK reach grid parity – where prices from an alternative source of energy are equal or less than power from the grid.