So now I have a solar PV system how do I make the most of it???

zeupater

orrery wrote: »

You mean, "...and you'll get a cheque for £2,400 per year for the next X years".


Sounds a positive to me.

Hi

Not really, it's effectively a case of the form of question(s) being asked of the estate agent and the balancing of marketing: "...and you'll get a cheque for £2400 per year for the next X years" ... against ... " ... and you'll have legal and financial constraints levied against your property with someone else receiving a cheque for £2,400 per year, both being for the next X years" ...

As an aside, isn't £2400/year (4.5kWp-5kWp?) a little on the high side of expectations considering that the installed capacity & orientation hasn't been established!? ... anyway, taking an average performing 2011 installed 4kWp system, the basic FiT based financial lost opportunity in question would still be >£30k, which when leaving all other considerations aside, would lead many to offer considerably less for the property on a like-for-like basis ...

... think of it as two adjacent houses which are exactly the same (including the installed PV system) ... given the position stated which is more attractive to the buyer?, the one with an income, or the one with additional legal obligations & potential future cost issues? ... so how does this effect the relative marketability & eventual sales value of the two properties? ... that's the real question ...

HTH
Z

1961Nick

A property for sale near to me had a rent-a-roof system & the seller had to buy out of the contract before the purchaser would complete.

Apparently the buyers had no issue with solar panels...just with the prospect of not owning them.

orrery

zeupater wrote: »

Hi

Not really, it's effectively a case of the form of question(s) being asked of the estate agent and the balancing of marketing: "...and you'll get a cheque for £2400 per year for the next X years" ... against ... " ... and you'll have legal and financial constraints levied against your property with someone else receiving a cheque for £2,400 per year, both being for the next X years" ...

As an aside, isn't £2400/year (4.5kWp-5kWp?) a little on the high side of expectations considering that the installed capacity & orientation hasn't been established!?

It isn't hypothetical - I'm just applying the logic to my house. As for rent-a-roof, I wouldn't contemplate it - I stopped my Mum going for it when it was all the rage. There have been too many reports of sales failing because the RaR people couldn't be bothered to sign over the lease.

Doc_N

Just by way of an aside on the economics of the original scheme, we had our installation put in in August 2010, and last spring it reached break-even point.

That allowed for the original installation cost, plus lost interest on the capital sum involved.

By September 2018 we were £900 in 'profit' and there's around £2100 pa coming in by way of FIT payments and savings (calculated very conservatively) in electricity costs.

At some point we'll need a new inverter (£1200 or so to replace the existing SMA Sunny Boy 3300?) but that's not much more than 6 months' income.

Others will have done far better than this because they have more sunshine, or maybe picked the sweet point for installation, balancing falling installation costs against falling FIT payments, but even on my figures it's proved a startling good investment.

KevinG

Doc_N wrote: »

At some point we'll need a new inverter (£1200 or so to replace the existing SMA Sunny Boy 3300?) but that's not much more than 6 months' income.

When I replaced my inverter it cost me £200 on Ebay + £100 to install it.

Doc_N

KevinG wrote: »

When I replaced my inverter it cost me £200 on Ebay + £100 to install it.

That's worth knowing! Secondhand one, presumably?

KevinG

Doc_N wrote: »

That's worth knowing! Secondhand one, presumably?

Yes, but I only just missed out on a new one for the same price.

zeupater

orrery wrote: »

It isn't hypothetical - I'm just applying the logic to my house. As for rent-a-roof, I wouldn't contemplate it - I stopped my Mum going for it when it was all the rage. There have been too many reports of sales failing because the RaR people couldn't be bothered to sign over the lease.

Hi

It's not anything to do with being hypothetical ... the original question revolved around selling the remaining years of FiT payments ...

We had panels installed in 2011, paid for with my husband's redundancy payment.
We have now reluctantly decided that after 31 years of living here it's time to move on and downsize.
Ages ago we got a letter asking if we wanted to sell our future Feed in Tariff payments. It sounds a good idea but....I wondered whether anyone knew anything about this idea, if it is possible, legit and problem free?

I read that as being an attempt to maximise asset returns by selling off the remaining years of FiT payments prior to marketing & selling the house, effectively converting the PV installation from being owned with associated income to a form of rent-a-roof contract in full expectation that this wouldn't have a negative impact on the price the house would eventually realise.

The position I'm trying to convey is exactly in line with the advice you would have given your mum regarding RaR... stay more than a bargepole's length clear of the idea as the potential downside on legal constraints, property marketability & sales value is likely far greater than any potential one-off payment ...

HTH
Z

orrery

zeupater wrote: »

Hi

It's not anything to do with being hypothetical ... the original question revolved around selling the remaining years of FiT payments ...

Indeed it did, and then deviated onto whether solar panels added anything to the price of a house, and whether estate agents factored that in (I assume that would be if you didn't sell the remaining years). It was that I was commenting on.

SALTburn64

I have a low wattage (800w) electric oven, which I can use if conditions are favourable instead of using the gas oven.