New free solar panels

spamus

Thanks Martin :money: you said I could get free solar panels and today I did
:T
Ok got 25 year contract but my roof is now earning me money and it's good for the environment

JimLad

spamus wrote: »

Thanks Martin :money: you said I could get free solar panels and today I did
:T
Ok got 25 year contract but my roof is now earning me money and it's good for the environment

Its earning you money? Dont the people that supply the panels pocket the FIT payment?

pinnks

Correct. Fee panels mean free electricity but not feed-in-tariff. non-free panels means you get both. Simples.

spamus

As Pinnks said I won't get any money just the power it produces if I use it.
As long as you understand and are happy/ok with this the deal is fine if you have and issues with this don't do it the contract is for 25 years and you can't get out of it which is a bit hard to understand!
But it works for me as for others using a lender who sells loans with 1200% interest
Which I must say I don't understand why

tunnel

Care to explain whether you've bought the panels with a loan or it is indeed RaR because how you're explaining makes no sense whatsoever
RaR is only for 20 years as that's the length of the FiT, why would you sign a deal for 25yrs?

Martyn1981

tunnel wrote: »

Care to explain whether you've bought the panels with a loan or it is indeed RaR because how you're explaining makes no sense whatsoever
RaR is only for 20 years as that's the length of the FiT, why would you sign a deal for 25yrs?

Hiya T. I've pondered the same having seen '25yrs' pop up in a few posts. I think the RaR firms are leasing the air space for 25 years.

Not sure if that makes a difference though, after all if you are going to sign up, then perhaps 25yrs of maintenance* and leccy is better than 20 ....... unless you'd planned to move in year 21!

* You could argue that after the FiT ends, they may lose interest and fail to fix a fault (inverter failure etc) in year 21, losing you the free leccy. But presumably that would be a breach of the contract ....... assuming it's a fair contract.

Mart.

tunnel

Thanks for clearing that up Mart, seems a little bizarre offering 25 year leases when they're only earning for 20. Maybe that's the price for placing the panels I don't know.
Wonder if they are expecting export meters to come into force,there's a hell of a lot of RaRs around,maybe they believe they may be able to negotiate a deal after the original 20 years are up, who knows?

EricMears

tunnel wrote: »

Thanks for clearing that up Mart, seems a little bizarre offering 25 year leases when they're only earning for 20.

If there's anyone greedier than RaR firms, it's probably solicitors No doubt there would have been a charge for re-writing the leases and it's likely to have been a lot more than the actual cost of using a word processor to delete the words "twenty five" and figures "25" and replacing them with "twenty" & "20".

There's also the point that it's always possible (no matter how improbable) that there might be some advantage in having the extra 5 years at end of contract so certainly not worth paying anything to remove that potential benefit .

Sterlingtimes

The lessee of the roof may be able to remove the panels after 20 years or sell the panels to the lessor of the roof for a small sum in consideration of the benefit that the lessor would have for five years. There is surely an option in here somewhere.

tunnel

Sterlingtimes wrote: »

The lessee of the roof may be able to remove the panels after 20 years or sell the panels to the lessor of the roof for a small sum in consideration of the benefit that the lessor would have for five years. There is surely an option in here somewhere.

I was under the impression that after 20 years the system was handed over to the home owner(for nowt) so can't quite grasp why they'd continue a lease for another 5 years beyond that.

EricMears

tunnel wrote: »

I was under the impression .....

In the RaR world, lots of people are given the impression that they're being offered something better than is actually on offer !