Solar energy is becoming more popular in the United Kingdom as people look for alternative ways to generate electricity. One of the ways to benefit from solar energy is through leasing solar panels. Leasing solar panels has become a popular choice for many homeowners as it allows them to install solar panels on their roofs without having to pay the upfront costs. So, how much does it cost to lease solar panels in the UK?
The cost of leasing solar panels in the UK varies depending on several factors such as the size of the solar panel system, the brand of the solar panels, and the length of the lease. Generally, the cost of leasing solar panels in the UK ranges from £10 to £20 per month per panel.
For example, if you want to install a 4kW solar panel system, you may need around 16 solar panels. The cost of leasing 16 solar panels in the UK can range from £160 to £320 per month, depending on the brand of the solar panels and the length of the lease.
Most solar panel leasing companies in the UK offer a lease period of around 20 to 25 years. This means that you will be paying the monthly lease fee for the duration of the lease period. However, some companies may offer shorter or longer lease periods depending on your preference.
It is important to note that the cost of leasing solar panels in the UK does not include the cost of installation. The cost of installing solar panels in the UK can range from £4,000 to £8,000 depending on the size of the solar panel system and the complexity of the installation.
The good news is that some solar panel leasing companies in the UK offer free installation as part of the leasing agreement. This means that you will not have to pay the upfront cost of installation, and you will only be required to pay the monthly lease fee.
Additionally, some solar panel leasing companies in the UK offer a buyout option. This means that after the lease period is over, you can choose to buy the solar panels at a reduced price. The buyout option allows you to own the solar panels and benefit from the free electricity they generate without having to pay any monthly lease fees.
Another factor that can affect the cost of leasing solar panels in the UK is the Feed-in Tariff (FIT) scheme. The FIT scheme is a government-backed incentive that pays homeowners for generating their own electricity using solar panels. The FIT scheme pays a set rate per kilowatt-hour (kWh) of electricity generated, and this rate varies depending on the size of the solar panel system.
The FIT scheme has been reduced significantly in recent years, and it is set to be completely phased out by March 2022. This means that homeowners who install solar panels after this date will not be eligible for the FIT scheme, and they will not receive any payments for the electricity they generate.
In conclusion, the cost of leasing solar panels in the UK varies depending on several factors such as the size of the solar panel system, the brand of the solar panels, and the length of the lease. The cost of leasing solar panels in the UK can range from £10 to £20 per month per panel, and this does not include the cost of installation. Some solar panel leasing companies in the UK offer free installation as part of the leasing agreement, and some also offer a buyout option. Homeowners should also be aware of the phasing out of the FIT scheme, which will affect the financial benefits of installing solar panels in the future.
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