Guidance on buying a house with solar panels?

System

den51cat wrote: »

Hi, can anybody give us some advice, we signed up to solar panel contract which is costing £15.500 over 10 years. We were led to believe that the FIT would be enough to cover the monthly outgoings of £120 a month but our first pay back was £169 for 3 months. We are so worried we cant meet the payments. Is there any way we can get out of this contract??

Yep - start a new thread. Provide details of the size of your PV installation, and projected output etc. FWiW, I have a 2.115Kwp system which is 3 years old on the max FIT rate and, taking energy generated/used in the home into account, i have a return of about £1050 per annum. I suspect with FIT rates as low as they now are - you will get nowhere near that amount of return. It would seem that you may have been taken in by the power of compound interest and a box of LED lightbulbs. I hope that I am wrong for your sake.

System

rosemarion wrote: »

Or does it have to be the energy provider that was originally providing the FIT?

Better the one that is providing the FIT as they will have to negotiate between you and the seller. It will be a different department from that which supplies electricity.

macman

£1,440 pa in FITs on a 4kWp domestic PV system? Dream on.
But remember that their 'payback' figures may include the amount you are saving on your own electricity import-maybe 33% under the right conditions.
But that still won't get you anywhere near £120pm.
Were these 'led to believe' figures given in writing? If not, did you not do your own research to verify them?

ConfusedCharlie

We're in same position now and your detailed and clear advice is invaluable in an area where the industry "professionals" don't seem to have the clue.

(the energy certificate for the house didn't state solar panels present - suggested getting them for water heating/electricity!!)
Found out by inspecting local authority planning - building control website
- entry on approved solar panels.
Vendor knows nothing - Solicitor has made any mention of them in contract etc. )