Should I worry about FIT solar panels

Glover1862

Penguin2017 wrote: »

Thanks All!
I was actually thinking this was okay, but have now made it clear on the solar panels that they and FIT need to owned by us

Also, you need to submit a reading every quarter, how do they plan on getting this reading? You would have to agree for them to enter your house, just isn't going to happen.

cjmillsnun

Glover1862 wrote: »

Also, you need to submit a reading every quarter, how do they plan on getting this reading? You would have to agree for them to enter your house, just isn't going to happen.

That part is easy. They'd fit a smart meter.

Glover1862

cjmillsnun wrote: »

That part is easy. They'd fit a smart meter.

Ok, didn’t know they are available for Solar, I not been offered one, energy supplier is ovo and FiT with British Gas.

ashe

sevenhills wrote: »

On my house I believe the FIT payments are around £300 per year, only bought it a few months back so no payment yet, but the seller would be a fool to jeopardise the house sale just for <£500 per year.

I don't think the seller would get the annual cash, I think they are proposing to get a lump sum for the FIT from a firm that does such transactions.

pinklady21

The FIT amount will depend on when the panels were installed, how efficient they are, and their orientation on the roof.
for example, I have panels, and receive a FIT of around 22p per kwh that is generated and a smaller amount for an "export tariff" for the electricity sent to the grid.

Panels installed earlier will have a larger FIT, more recent installations less as the government has cut the FIT subsidy over time.

The panels can be moved, but the FIT stays with the property, so there would not be much advantage in taking them away.

When/if I sell the house, the panels will stay put as part of the fixture of the house, and I will arrange to transfer the FIT to the new owner. It is worth around £900 per year, so a decent index linked income for a good few years yet.

Agree with other posters, under no circumstances buy the house without also getting agreement in the contract that the ownership of both the panels and the FIT passes to you as the new owner. Anything else is silly for the seller to contemplate, and far too complex for the buyer to be bothered with!

cjmillsnun

Glover1862 wrote: »

Ok, didn’t know they are available for Solar, I not been offered one, energy supplier is ovo and FiT with British Gas.

I don't think they are generally available, however a business can arrange to get one fitted. I have a smart generation meter that EON can't see that was used by Freetricity to provide readings when they owned the panels. Now that I own the panels I have unscrewed the aerial so that it can't communicate with Freetricity. I am contemplating finding out if EON will replace it with a standard meter (I have my doubts that they will).