Homeowners in South West Wales are being warned that they need to act now or miss out when it comes to cashing in on offers of free solar panels.
Changes made by the UK government to the subsidy available for installing solar panels means that many of the offers of free installations – and thus big savings on energy bills – will disappear by the end of the year.
Companies such as Llanelli-based Dragon Energy Solutions currently offer a service whereby homeowners can benefit from the free installation of the solar panels meaning big reductions in their energy bills long term.
In return for the free installation, third party investors funding the project benefit from the feed-in tariff payments offered by the UK government.
But, from January 2016, these are being slashed by almost 90 percent – making this business model unworkable. This means these lucrative offers of completely free solar installations for home owners will also dry up.
Rob Gammon, Director of Dragon Energy Solutions, said: “The UK government has opted to take a very radical approach in slashing these payments much sooner than expected. This will have a very detrimental effect on the solar industry as a whole and many schemes and projects will disappear completely.
“It is a real shame as we have already helped hundreds of homeowners benefit from the deals in place by offering free installations. This means they save thousands on their energy bills without having to outlay a penny.”
Existing solar panel installations will not face cuts – only those installed from January 2016 – meaning that homeowners wanting to cash in on this deal need to act quickly.
Mr Gammon said: “This situation has squeezed the entire industry and sent demand through the roof. We only have limited time frame to work in now but we are determined to install as many new solar panels to homeowners in this area before the end of the year. It is a real long-term cost benefit and I would encourage anyone interested to pick up the phone quickly or miss out.”