Solar Panels

[lews123]

Just now about to purchase a house which has solar panels currently installed on the roof. The current owner has a 25 year lease on the panels but part of the deal is that he will buy these out prior to completion and I will then take ownership of the pv equipment. The current setup is that the owner takes free electricity that is produced and the non used electric is sold back to the board which the company who owns the panels takes as part of the deal. My question is, once the panels are bought out and in my ownership I will then have the option to take the feed in tariff myself. I know there are speculations of the rate reducing in January and I just wondered as these are an existing installation (installed 2011) Will I be eligible for the higher rate or will I get shafted with the lower rate as I will be a new account?

 

[uksparks]

This is just me, but I would not let them buy them, keep them on a lease, as the fit payment is so low now it's not worth it.

why take on the liability of them?

just keep the lease going and let them maintain them and you benefit from the power.

 

[lews123]

This is just me, but I would not let them buy them, keep them on a lease, as the fit payment is so low now it's not worth it.

why take on the liability of them?

just keep the lease going and let them maintain them and you benefit from the power.

I'm just thinking A) I dont like the idea of someone renting my roof space and B) not many banks are lending to people who are involved in these lease agreements.... Got to speak to my mortgage advisor tomorrow regarding this

 

[Leesparkykent]

I'm just thinking A) I dont like the idea of someone renting my roof space and B) not many banks are lending to people who are involved in these lease agreements.... Got to speak to my mortgage advisor tomorrow regarding this

Totally agree...I know of someone who had a sale fall through due to this very fact.

The feed-in tariff is attached to the installation, not the owner. You will get the feed-in tariff at the same rate (index-linked) for the remaining period.

 

[lews123]

Totally agree...I know of someone who had a sale fall through due to this very fact.

The feed-in tariff is attached to the installation, not the owner. You will get the feed-in tariff at the same rate (index-linked) for the remaining period.

Lee - at the moment they have a meter which is linked to an antenna (to the head office of the solar panel firm) do you know if i need to change this meter or anything? and do I get the original tariff rate regardless of what energy supplier i use?? sorry just not too clued up on PV!

 

[Leesparkykent]

Lee - at the moment they have a meter which is linked to an antenna (to the head office of the solar panel firm) do you know if i need to change this meter or anything? and do I get the original tariff rate regardless of what energy supplier i use?? sorry just not too clued up on PV!

you wont have to change the meter. The meter will have a sim card that can easily be removed.

If the company that owns the installation atm fills in a change of ownership form then you will start receiving the payments at the rate (index linked) from when the installation was 1st registered on installation. when you become the owner you can choose who you receive the fit off at the original tariff rate.

here is an example of a change of ownership form from 1st utility.

https://www.first-utility.com/wp-co...OO-Generator-Moving-Out-for-FITs_20140808.pdf

 

[gnselectricals]

I was under the impression that these rent a roof schemes were that, they company pays for install and then claims fit payments and the householder get the benefit of the free electricity generated ?
Meter with antenna to allow remote monitoring of system and meter reading and possible import-export depending on metering type

 

[yellowvanman]

Just now about to purchase a house which has solar panels currently installed on the roof. The current owner has a 25 year lease on the panels but part of the deal is that he will buy these out prior to completion and I will then take ownership of the pv equipment. The current setup is that the owner takes free electricity that is produced and the non used electric is sold back to the board which the company who owns the panels takes as part of the deal. My question is, once the panels are bought out and in my ownership I will then have the option to take the feed in tariff myself. I know there are speculations of the rate reducing in January and I just wondered as these are an existing installation (installed 2011) Will I be eligible for the higher rate or will I get shafted with the lower rate as I will be a new account?

Not sure how the existing owner will buy back, but I would have thought if he did and then you eventually take ownership you should still be entitled to the FIT rate as it stands, which if installed in 2011 should be around 45-50p per kWH.

You shouldn't need to be re-applying for a FIT but it should be just a change of ownership!

Obviously make sure your solicitor has it all in writing!

 

[amlu]

dump the excess output into an immersion tank heater and enjoy free showers.

 

[sean_ork]

Has the current house owner actually agread a figure to "buy out" of his lease ?

I suspect the FIT beneficiary's will be expecting a significant sum.

 

[jackhammerJIM]

This is just me, but I would not let them buy them, keep them on a lease, as the fit payment is so low now it's not worth it.

why take on the liability of them?

just keep the lease going and let them maintain them and you benefit from the power.

System installed in 2011