genius energy free solar panels

shafs1976

hi can some please tell me if this is a genuine company, sounds to good to be true, should i give it a go , can someone please help me, genius-energy.co.uk

EricMears

I've had a quick look at website but it's a bit short on detailed information.

It appears to work to a financial model such that Genius arrange an unsecured bank loan from RBS for you and use that to supply & fit a SP system for you then 'guarantee' that your FIT payments will cover the loan repayments.

Impossible to comment without knowing how much they're charging for their systems and what the interest rate on the bank loan would be but in principle such a scheme might work and could extend the benefits of the FIT scheme to 'poor' people unable to buy their own panels.

However, they don't appear to be a registered charity so are presumably expecting to make a profit on the scheme. I would certainly compare any quotation they offered with an alternative scheme in which a homeowner financed panels (from the cheapest reliable supplier) with an 'additional advance' from whichever financial institution is currently offering a mortgage on the property. I'd be amazed if 'my' scheme wasn't rather cheaper than Genius's.

Kernel_Sanders

I hope I'm not too late in this advice, but I would certainly not consider a scheme where the FiT payments are sent to a third party (if that's what this scheme involves). As you are relying on them to repay the loan, they should either go to you or to the RBS.)

tali

I KNOW DEAD THREAD- but genius energy have been on to me recently and are VERY PUSHY - very suspicious of them and their 5 star reviews

Alwaysconcerned

I know a bit about this company. They are an energy savings company. Yes the energy saving products are done by funding but this is offset by the monies the individual receives back from the government subsides and the money saved from their energy bills. The individual receives all the benefits unlike other companies that keep the government tariff. The individual inflation proof their home and the savings significantly increases over the years.

moomin75

Just had a phone call from these about fitting free solar panels but I'm not sure, has anyone had dealings or knowledge about them?
Thanks

thenudeone

Alwaysconcerned wrote: »

I know a bit about this company

..probably because you work for them or get paid by them.

You joined MSE just to give a positive review of this company. Really?

sr6424

I actually had a consultant come to my house. He talked a good story and went through a presentation. I know a little about solar energy so could ask questions, He couldn't give me an answer to any. At the end of the presentation he showed me customers being interviewed saying how brilliant Genius Energy are. Two problems -

1 They didn't show a picture of the panels on their house.
2 They didn't give any financial figures.

I said if he gave me an electronic copy of his proposal that I would send it to a relation to check it out. My cousin works in the industry. He refused. He wanted to come back to my house and get me to sign there and then. I'm sure it would have been a high pressure sell!

My view is that the company are probably OK. I'm not so sure that you couldn't gof got the same deal elsewhere.

jimjames

sr6424 wrote: »

I actually had a consultant come to my house. He talked a good story and went through a presentation. I know a little about solar energy so could ask questions, He couldn't give me an answer to any. At the end of the presentation he showed me customers being interviewed saying how brilliant Genius Energy are. Two problems -

1 They didn't show a picture of the panels on their house.
2 They didn't give any financial figures.

I said if he gave me an electronic copy of his proposal that I would send it to a relation to check it out. My cousin works in the industry. He refused. He wanted to come back to my house and get me to sign there and then. I'm sure it would have been a high pressure sell!

My view is that the company are probably OK. I'm not so sure that you couldn't gof got the same deal elsewhere.

As far as I am aware these tactics are against the REAL code so they could be reported for these breaches.

I wouldn't touch any company that is breaching these rules and trying a hard sell without giving figures.

richbynameonly37

I have been looking into Solar for over a year now but have been a bit more pro active of late as had time to get a few companies in to give me quotes. I have had 4 companies in of which genius was one of them. There proposal is based on projected energy savings using pv and voltage + gas optimising units couple with LED bulbs and improving the loft insulation. The guy who came out was 10mins late (bug beat of mine) but wasn't pushy in any way which was a refreshing as I had to ask the guy from Big Green to leave as he wanted me to sign up there and then!!

Did ask me for a copy of my bill which I found odd, when I questioned him on this he said that they needed this to calculate my energy savings which I suppose makes sense. He is coming back this Wed with a detailed quote and breakdown of how much it will save me and how much the system will generate along with detail for the flexible finance which I still don't understand fully.

Got to say that so far so good with this company as they seem very professional and there credentials check out. Will have to see what he comes back with on Wednesday before I commit to anything.

Anyone else dealt with this company?

tunnel

richbynameonly37 wrote: »

I have been looking into Solar for over a year now but have been a bit more pro active of late as had time to get a few companies in to give me quotes. I have had 4 companies in of which genius was one of them. There proposal is based on projected energy savings using pv and voltage + gas optimising units couple with LED bulbs and improving the loft insulation. The guy who came out was 10mins late (bug beat of mine) but wasn't pushy in any way which was a refreshing as I had to ask the guy from Big Green to leave as he wanted me to sign up there and then!!

Did ask me for a copy of my bill which I found odd, when I questioned him on this he said that they needed this to calculate my energy savings which I suppose makes sense. He is coming back this Wed with a detailed quote and breakdown of how much it will save me and how much the system will generate along with detail for the flexible finance which I still don't understand fully.

Got to say that so far so good with this company as they seem very professional and there credentials check out. Will have to see what he comes back with on Wednesday before I commit to anything.

Anyone else dealt with this company?

If your looking at buying a system then why not look at finance yourself, there's plenty of cheap loans around or even possibly extra borrowing on your mortgage(if you have one). I believe someone posted about interest free loans from the energy saving trust(but can't be sure)


If your after free panels then go for such as A shade greener or whoever is in your area that works similar, you get what you get with these guys, they provide the panels and you use the electricity but they take the FIT. Even though I don't agree with the business plan(its not what the FIT was set up for) I must admit I know plenty of happy customers of theirs, people who wouldn't have been able to buy their own systems.


tunnel