Over the last few months we have seen an increase in enquiries from RTM Directors and Management Companies requesting information on the practicalities of installing solar panels on residential blocks. Solar photovoltaic (PV) panels can offer a reduction in electricity prices and income can be generated through the taxfree government subsidy (Feed in Tariff or FiT).
Landlords/Freeholders and leaseholders can benefit by having solar generated electricity; it can be used to power the electricity serving communal areas and as a potential source of income by feeding unused electricity into the grid, although news at the end of October of a proposed reduction in the FiT may render the financial incentive for installing panels less attractive. Aside from the capital expenditure, the main installation issues with installing solar panels in a residential block, as opposed to an individual domestic dwelling, are that of design and technicality and also the legal implications under the lease.
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