I've been a massive fool...My planet UK Solar.

System

Gstyle007 wrote: »

Also on searching for details about the company I came across a PDF file where Myplanet had been called to a meeting by the R.E.C.C and were found in breach of several items of the consumer code.

Why do you not contact the RECC and offer your quotation for audit?

silverwhistle

ohreally wrote: »

You need other posts to refer to MyPlanetuk or MyPlanetuk wont move up rankings.

Are you suggesting that unless people occasionally 'bounce' posts people won't get to hear of the dubious practices and outrageous prices of MyPlanetuk - or is that MyPlanetUK?

Cardew

Hengus wrote: »

Cardew - I confess that without seeing the small print re assumptions I am struggling here.

We agree that the LED lighting savings are wrong and should be £3431.82 not £5754.06.

Taking each of your calculations in turn:

1. FIT plus Export = £217.02 in Yr 1 inc at 2.5% inc pa. This gives me a 20 Yr total of: £5543.70.

2. Electricity savings of £103.56 in Yr with 8.79% inflation gives me a 20 Yr total of £5174.90 not £8503. I used a simple spreadsheet and ran the calculation 20 years multiplying each years figure by 1.0879.

This gives me a total return of £14150.40 over 20 years assuming one agrees with the assumptions and unit cost for electricity.

My calculations may be out: put that down to advancing years.

Thanks.


We are broadly in agreement on the figures. As I stated in my earlier post I make £103.56 inflated by 8.79% over 20 years to be £5,172 - near enough the same as your £5174,90.


Similarly my calculation of £3,500 for LED savings is not that far from your figure of £3,431.82.


The £8,503 was obtained by using their methodology on their LED savings.


What is important is we both agree that their estimates are wildly inaccurate.

Gstyle007

Hengus wrote: »

Why do you not contact the RECC and offer your quotation for audit?

I have contacted them but they said it will take up to 10 weeks and that I have to try and sort it out with the company myself first.

I am going to re-contact the MD about the figures and some possible breaches in the consumer code and will see what he has to say.

I want to thank everyone that has commented here for all your time and effort. It is very much appreciated.

:T

Gstyle007

Ok, so i've recontacted the MD from Myplanet UK with a few issues and he has passed it on to someone else to deal with, I have been contacted by them and he would like to come round and try and work something out with me so I will update you all after that meeting.

If there's anything you think I should be asking him please let me know, I will of course be asking how they work out their estimates amongst other things !!

Cheers

Martyn1981

Gstyle007 wrote: »

Ok, so i've recontacted the MD from Myplanet UK with a few issues and he has passed it on to someone else to deal with, I have been contacted by them and he would like to come round and try and work something out with me so I will update you all after that meeting.

If there's anything you think I should be asking him please let me know, I will of course be asking how they work out their estimates amongst other things !!

Cheers

Tricky, lots of things you could get angry about, but as per our discussions way back, they have played it clever.

Still, nothing stopping you from asking:-
1. Why was the install so quick, the first day they were allowed to do it. Was this to prevent you realising it was overpriced?

2. Should the LED bulb savings be included? A main light replacement can be 'got' for around £10, so spending £100 on bulbs, distorts the PV figures (as a package), is this just a marketing trick to confuse and baffle?

3. Why has such a high energy price inflation figure been used? Is it to trick people by using confusing/misleading numbers again? How high can energy prices rise (above normal inflation) after all, most generation forms top out at around 10p/kWh (on-shore wind, large scale PV, nuclear, Gas (with CCS) etc etc) so if spot prices can only rise from 5p to 10p, then supply prices should max out around 5p higher than they are now.

So, assuming price of 15p (plus S/C) then rising to 20p. Approx 33% rise over the 20 years (1.65%), on top of regular inflation. So where does the 8.79% come from .... crucially for an extended 20 year period?

I'm not sure how you should play this, but try to make out that you now understand that the sale routine was designed to mislead (even trick) you into thinking the high price was warranted. If the returns aren't genuine / aren't reasonable, then the rest falls down like a house of cards.

I think you need to stress that this isn't just sour grapes, but that you genuinely believe that the price is too high, and 'tactics' were used to misdirect you. And that you are going to take the matter up with the trade bodies.

Fingers crossed, they've made so much money on this, that they may (just) think it's better to play it safe and reconsider the price.

Price wise, I reckon from your side £3k sounds fairer, from their's £4k max ..... but I'm only guessing now.

Best of luck.

Mart.

Cardew

Martyn1981 wrote: »

So where does the 8.79% come from .... crucially for an extended 20 year period?

However even at 8.79% their estimates for LED and in-house electricity savings are way above that figure.

Gstyle007

Thank you so much Mart & Cardew, I will put it to them and let you know what they say !

Martyn1981

Cardew wrote: »

However even at 8.79% their estimates for LED and in-house electricity savings are way above that figure.

Yes, and thanks for the reminder, I wrote 4. then gave up after 2 mins as I couldn't remember what it was, so,

@ Gstyle007 - ignoring the fact that most of those numbers are silly, they should still be accurately calculated. [After all, if the calculations are accurate and IF they believe them (or pretend to believe them) then I suppose a person/company with no morals can still justify a sale.]

So, if your decision to sign up was based on the quote given, and the quote is seriously inaccurate (not just out by a fiver) then have you been misled/mis sold?

Would a difference of a few thousands in the quote have been enough to make you think twice and put you off. I suspect it would have, or at the very least you would have sought advice on the system/price within the 7 day cooling off period.

Play it cool in the meeting, but it's going to be an odd one. You and he will both know that this is a bit of a con now, and more importantly you'll both know that each other is aware of it too. Stay polite, but don't back down.

[Edit: Let me expand on that 'don't back down' comment. Don't expect too much from the meeting, and stay polite, but make sure he leaves knowing that you are now very aware of all the 'errors' (price, inflation, calculations, etc etc) and that you will be taking the matter further with the relevant bodies. If he is willing to negotiate, then I think you should start from the position of having it all removed, and the whole deal cancelled, then see what he offers. M.]

Best of luck.

Mart.

Cardew

Cardew wrote: »

However even at 8.79% their estimates for LED and in-house electricity savings are way above that figure.

As I stated in an earlier post, I suspect they have used a calculator/spread-sheet that gives 8.79% interest on the cumulative savings.


i.e. First year savings for LED = £70.08.


Second year savings(£70. 08 x 1.0879) = £76.24


total savings after year two = £146.32 they then incorrectly increase those savings by 8.79%(£12.86) making total savings £159.18.


In third year LED savings are £82.94 That added to £159.18 is £242.12. 8.79% interest on that sum is £21.28.


So at end of third year they(incorrectly) calculate savings as £263.40.


Etc Etc Etc for 20 years.


That is the only way I can see that they reach a figure of £5,754.06 for LED savings when two of us have calculated savings as approx. £3,500 for 20 years at a(very high) 8.79%