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  • FIRST POST
    • bevkempson
    • By bevkempson 18th Apr 17, 12:42 PM
    • 4Posts
    • 3Thanks
    bevkempson
    Solar Panel Buy-back
    • #1
    • 18th Apr 17, 12:42 PM
    Solar Panel Buy-back 18th Apr 17 at 12:42 PM
    Has anyone been tempted by the offer of a lump sum to lease their solar panels - a company called Lightsource seems to be pushing this at prices that seem to be to good to be true.
Page 1
    • Cardew
    • By Cardew 18th Apr 17, 1:04 PM
    • 26,716 Posts
    • 12,920 Thanks
    Cardew
    • #2
    • 18th Apr 17, 1:04 PM
    • #2
    • 18th Apr 17, 1:04 PM
    Just joined, first post to give positive publicity to a company. No connection with the company of course

    If you want to read just how poor these buy back schemes are, not just financially but the affect of leasing your roof, go to the Green and Ethical section of this forum.
    • bevkempson
    • By bevkempson 18th Apr 17, 1:18 PM
    • 4 Posts
    • 3 Thanks
    bevkempson
    • #3
    • 18th Apr 17, 1:18 PM
    • #3
    • 18th Apr 17, 1:18 PM
    Certainly not promoting the company at all - just wondering what anybody thinks of the latest round of offers which seem to be very different from previous ones i.e. they claim to be Council of Mortgage Lenders compliant; no charge on property, etc. or am I missing something? I can't find anyhting that comments on this on the Green & Ethical thread.
    • matelodave
    • By matelodave 18th Apr 17, 1:50 PM
    • 2,923 Posts
    • 1,697 Thanks
    matelodave
    • #4
    • 18th Apr 17, 1:50 PM
    • #4
    • 18th Apr 17, 1:50 PM
    As the saying goes "if it seems too good to be true then there's a catch somewhere".

    You have to study the small print very carefully to find out what it is.
    Love makes the world go round - beer make it go round even faster
    • Cardew
    • By Cardew 18th Apr 17, 7:45 PM
    • 26,716 Posts
    • 12,920 Thanks
    Cardew
    • #5
    • 18th Apr 17, 7:45 PM
    • #5
    • 18th Apr 17, 7:45 PM
    Well if you are not connected to the company, you must have got a figure for your PV system to know the 'price is too good to be true'.

    So can you please give us details of your PV system and the price offered.

    Date commissioned(hence current FIT), size of system and annual generation.

    The thread in 'Green and Ethical' is below:

    http://forums.moneysavingexpert.com/showthread.php?t=5448909
    Last edited by Cardew; 18-04-2017 at 7:51 PM.
    • bevkempson
    • By bevkempson 19th Apr 17, 9:32 AM
    • 4 Posts
    • 3 Thanks
    bevkempson
    • #6
    • 19th Apr 17, 9:32 AM
    Final point
    • #6
    • 19th Apr 17, 9:32 AM
    Not too good to be true after all. Recvd the following from the company :

    "Thank you for your interest in our Solar cashback scheme.
    Unfortunately your system falls into the lower FIT tariff category,
    And our offer is very low at between £3,000/£3,500 as a consequence.
    We therefore understand you may be better off keeping your Fit payments at this time."

    As we get £750/annum and have 20 years to run they correctly assume we will want to keep the status quo! The "too good to be true" bit was based on the higher tariff and perhaps the generation potential in the sunnier south of the country!

    Thanks for all your replies though.
    • macman
    • By macman 19th Apr 17, 9:51 AM
    • 41,100 Posts
    • 16,851 Thanks
    macman
    • #7
    • 19th Apr 17, 9:51 AM
    • #7
    • 19th Apr 17, 9:51 AM
    What is the size of your system to be getting £750pa in FITS?
    No free lunch, and no free laptop
    • bevkempson
    • By bevkempson 19th Apr 17, 10:15 AM
    • 4 Posts
    • 3 Thanks
    bevkempson
    • #8
    • 19th Apr 17, 10:15 AM
    • #8
    • 19th Apr 17, 10:15 AM
    4Kw on the original 21p tariff (not sure what it is now with RPI adjustment) but we are in the North of England!
    • Martyn1981
    • By Martyn1981 29th Apr 17, 12:43 AM
    • 5,678 Posts
    • 9,680 Thanks
    Martyn1981
    • #9
    • 29th Apr 17, 12:43 AM
    • #9
    • 29th Apr 17, 12:43 AM
    4Kw on the original 21p tariff (not sure what it is now with RPI adjustment) but we are in the North of England!
    Originally posted by bevkempson
    Hiya, that would be 23.43p/kWh today, plus 3.57p/kWh in export on a 50% deemed basis, so a total of 25.215p/kWh.

    All the quotes/offers I've seen seem to be for about 1/3 of the outstanding income. So if folk really need the money, they'd be better off going to the loan section of this site and borrowing the money, then repaying it with FiT/Export income. They'd get the lump sum, and having repaid the loan over about 10yrs, would still get another 10(ish) yrs of FiT receipts.
    Just 'call me Mart'. Cardiff. 5.58 kWp PV systems (3.58 ESE & 2.0 WNW)

    For general PV advice please see the PV FAQ thread on the Green & Ethical Board.
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