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Today, I have had sixteen photo-voltaic panels erected on the roof.
This of course makes me complicit in fraud for the income I shall gain from these panels through what is known as a “Feed In Tariff” is a scam. A scam paid for by other electricity users who do not have these things on their roofs.
Why have I done this?
Because I need the money. My income is not great and electricity bills are unlikely to go down anytime soon. The panels cost £5,600. Were I to invest this in a very high yielding equity I would get £280 per year on which tax would be paid. The panels will pay more than this and it will be tax free. Furthermore, whilst over a period of twenty five years the dividends should grow the Feed-In-Tariff is guaranteed to be linked to the rate of inflation.
Speaking the Truth unto the Nation
Well, I cannot say that I am not shocked! Phew.
I may be wrong, but I was about to sign on the “dotted lien” for a panel when someone advised me that this could be tantamount to the supplier placing a Lien(legal hold) on your roof until the expiry of the contract thereby forcing the next purchaser to keep the system in place until the expiry. What happens if you have to strip the roof for maintenance? Just saying……. good luck
I’m sure you’ll put the money to good use.