Euro 0.85 Billion worth of Solar PV Panel Bonanza for 2.4 million Home Owners

What if someone offers you a solar PV panel system for your home absolutely free

? Though hard to believe this is exactly what HomeSun, a new UK based energy sector company is offering it's customers in a novel and unprecedented programme. They plan to spend GBP 1 Billion (approximately Euro 0.85 Billion) for the arrays and their installations over the next 3 years.

The consumer will not have to spend a single Euro for the equipment, (generally exorbitantly priced) unless the space available on the roof is not sufficient for the panel arrays or if the array cannot be installed with a southern orientation without additional structural modifications to the roof.

This is how the scheme will operate. HomeSun would supply and install the PV Panel arrays and the related equipment for a "grid tied" system. The currently effective "Feed in Tariff" scheme of the power authority would buy the power of these microgenerators. The householder is expected to generate their own electrical power and pay up a portion of the amount he saves by the buyback FIT scheme, to HomeSun.

The fantastic news about the whole thing is that the consumer virtually pays no energy bills thereafter for the next 25 years or as long as the PV panels last.

There is a small hitch in that this scheme is currently available to all homes in England, Scotland and Wales only. Does this seemingly crazy programme stand a chance of recovering the investment let alone making it viable? The Chief Executive Officer of HomeSun Mr Daniel Green is confident that this is so and states that they intend to provide the facility to 2.4 million homes (amounting to 10% of the total) within the next three years enabling them to derive the benefits of feed in tariff system as microgenerators.

Euro 0.85 Billion worth of Solar PV Panel Bonanza for 2.4 million Home Owners

By: Sam Braidley

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