Isis Solar - Free Panels - something fishy going on?

pebrey

We were one of the many households that jumped on the ISIS Solar bandwagon back in 2011 and had free solar panels installed.

We are just coming to sell our house, and I've found out that ISIS Solar have gone out of business, so in theory ownership of the panels should revert back to me.

However, I've been doing some research and it's a bit more complicated, so I'd really like some input or if anyone has any further information.

Here's what I found so far:

ISIS Solar were incorporated on 2nd July 2010. Administrators were appointed on 24th November 2015, and the company was dissolved on 8th March 2017.

ISIS Solar 1 was incorporated on 26th August 2010. It's still marked as active, but they have only ever filed accounts for a dormant company (Lsst filing for the period to 30th March, 2016)

ISIS Solar 2 was incorporated on 14th June 2010 as Switch Energy. Name changed to ISIS Solar 2 on 30th Nov 2010. A compulsory strike-off notice was issued on 18th Oct 2011, and that notice was discontinued on 11th Feb 2012. Once again, this company have only ever submitted accounts for a dormant company.

All of the "Accounts for a dormant company" submissions show a balance sheet of just the share capital (£100), and no assets.

On checking my contract / roof lease is with ISIS Solar 2, and as far as I am aware, that is who we dealt with (and have spoken to a number of times since).

But, none of the phone numbers for ISIS Solar (0, 1 or 2) work. I spoke to the administrators for the original ISIS Solar company, and they said that the original ISIS solar was just a holding company for the others, and that the contracts were now being looked after by Solar O&M. Incorporated 15th September 2015. (Unsurprisingly by the same directors at the same address).

So, ISIS solar was a holding company for at least 2 other ISIS Solar companies, none of which have ever declared any assets, despite having contracts in place for the solar panels. Those subsidiary companies have been declaring dormant accounts, and now the contracts are been managed by another un-related company (Which shows big liabilities on the balance sheet - as if they maybe bought the contracts?).

It's all very suspicious in my mind. Can anyone shed any light?

TonyMMM

pebrey wrote: »

.....so in theory ownership of the panels should revert back to me.

Is that your assumption or does it actually say that in the contract you agreed ...?

It is not unusual for the assets, such as your contract, of defunct companies to be bought/sold on administration, and often by new companies run by the same people .... could be morally questionable in some cases but not illegal (mostly).

You need to establish exactly who owns what now otherwise you will have great difficulty finding a buyer for your house.

pebrey

I need to read the contract again on, but I think it's covered in the terminations clause - they may choose to leave the panels or remove them at their expense.

However, my contract is in theory still valid, as it's with ISIS Solar 2 who are still shown as active on companies house.

It would also be perfectly valid for them to have sold those contracts on. However, if they had sold them, they would have to reflect it in the accounts, and according to their submissions they have never had any assets (The contract, part of which is a lease of the roof space) would be an asset? When they sold the contract, presumably they would have been paid, hence the company would have traded, so would need to submit accounts.

....and who has been claiming the feed in tariff all this time?

but yes - I need to get to the bottom of it otherwise the solicitors will have a field day....

bris

The solar panels will never revert back to you, you gave away your roof to boil a kettle (if your lucky) on a sunny day.


The solar panels will keep changing hands, going round in circles by companies who know how to play the system and will continue to do so. In the nicest possible way it's really none of your business who owns the panels.

pebrey

Not so. The contract does have a clause where ownership reverts to us - if they decide to exercise their option not to pay for them to be removed and the contract was terminated by them. (As opposed to us buying them out).

It also had clauses about their liability should anything go wrong, or maintenance being planned etc etc.

That and the fact that it's not actually the roof - its the space above the roof. And ISIS solar 2 are specifically listed as the tenants.

Oh - and I must tell them if I'm moving. Thing is, who do I tell? And who do I contact?

...and that /still/ doesn't explain how a company that has a gazillion leases in place for god knows how many solar panels has never actually spent or earned a penny? (At least according to their companies house filings).

And if I buy them out as per the contract, if they don't own them, how can they sell them?

Many questions - was rather hoping someone else who used them may have moved and had the experience already?

George_Michael

bris wrote: »

The solar panels will never revert back to you, you gave away your roof to boil a kettle (if your lucky) on a sunny day.

That's obviously a comment from someone who doesn't have the faintest idea of the output of modern solar panels.
I have a 3.9kW system on my property and today it produced 24.7kWh.
This is more than enough to cover all of my electricity needs during the day including running a washing machine for a couple of loads and also my dishwasher.
To put it another way, I could boil a kettle and providing I kept it topped up, I could boil it all day long and it wouldn't cost me a penny in electricity charges.

pinkshoes

The issue is that your house is not sellable until you resolve this.

To be able to sell your house, one of the following needs to happen:

1. get it in writing that YOU are now the owner of the panels

2. Get the panels taken off and given back to the company.

3. Buy the panels off the company.

4. Get some sort of indemnity insurance against future owners having costs relating to the panels.

DoaM

Am I smelling luncheon meant?

wealdroam

From the rules:

Please don't quote any post you believe is spam, as this causes the team more work.

DoaM

I always quote a spam post but change the content to :spam: so the forum flow still makes sense.

wealdroam

DoaM wrote: »

I always quote a spam post but change the content to :spam: so the forum flow still makes sense.

...until the spam post disappears.