Encouraged to take finance for renewable energy to find out it doesn't deliver on promised return?

[MaryDay]

Coersed into taking finance for renewable energy system, bio mass, heat pumps or solar panels etc?
Does anyone have any experience of banks and finance houses exerting influence, or simply offering them large amounts of borrowing on Green Energy projects?
Especially where the borrowing has suited the banks and lending companies agenda, rather than your own! To be left with a biomass/solar panel/water pump system that just didn't deliver on its promises?

This is a genuine enquiry from a private individual who has experience of the above. I’m not selling anything, but getting in touch may benefit anyone affected. We are stronger together!

 

[smallholder99]

the fit scheme was designed by the banks for their benefit, to receive fit payments you had to buy equipment from a fit approved installer which was twice the price of buying it direct,the cost of this scam is bourne by every electric bill payer in the country, the worst of it is the banks are allowed to create the money out of thin air

 

[Exfarmer]

The FIT scheme was a huge benefit to the householder, provided he did the sums. My own 8kw will return well over 15% and possibly near 20 ( I cannot monitor how much I use domesticly.)
find me another gilt edged investment can guarantee that!
The problem cane when idiot householders were scammed by fraudster on huge commissions who persauded gullible fools to pay dramaticly over the odds for small scale arrays. My own neighbour paid over £10k for an array which should have cost £6k He then signed up to a finance scheme which was near 20%. When he could have extended his mortgage for probably 4% or less
you cant cure stupid!
Sadly he has already gained compensation, but it comes from the banks Not the fraudsters, and no doubt will be gulled into some other stupid scheme
This is costing genuine pension funds millions , for it is these who lose out on the profits the banks have not made. The shysters will be out there selling some other scheme, probably air source heat pumps or composite paving, or just possibly go back to selling the double glazing they were so good at.
i should say that, there are plenty of genuine people in the industry too, but we wont hear of those, trying to do a good job for most people

 

[Highland Mule]

My own 8kw will return well over 15% and possibly near 20 ( I cannot monitor how much I use domesticly.)

Curious on your calculation for this - are you including depreciation of the array to zero over the life of the FIT, and do you include a figure for removal/ scrap at some point in the future? I could never get the numbers to work that well for me (and the house wasn't a suitable site anyway) when I looked at them.

 

[Exfarmer]

Curious on your calculation for this - are you including depreciation of the array to zero over the life of the FIT, and do you include a figure for removal/ scrap at some point in the future? I could never get the numbers to work that well for me (and the house wasn't a suitable site anyway) when I looked at them.

Yes, yes and yes! The panels are made of glass and alluminium both of which have value. They should not need scrapping until the house is being scrapped, and I will be long gone