Selling house with Rent a roof solar panels

Merlin139

If your panels were installed in 2011 the owner of the panels will be receiving a Feed in Tariff of 52.75p per kWh on all electricity generated and a Export tariff of 3.72p per kWh on 50% of all electricity generated.

Without knowing where your house is and what way the roof faces it is impossible to tell how much your panels generate. Do you have to read any meters for anyone to say how much has been generated or does someone come to your house to read the export meter. Normally the export meter is close to the inverter which is likely to be in your roof. If you can provide a reading on your export meter you could see how much has been generated in the last 7 years. This would give you an idea of what the system could make in the next 18 that the FIT is payable.

If you are down south and your panels are facing due south and you have no shading issues then if it produced 1880 kWhs per year you would be looking at £1061.64 per year based on this years rates. Be aware that rates are increased by RPI this years increase was 4.1% announced in Feb of this year.

Biccus1

They were fitted 11th oct 2011, we are norfolk and they face south on a house roof . I have a meter near my fuse box which has a modem built in so number are sent from that, is shows right now

013446.0 kwh

Can you work it from that how much they have had and how much its likely to return in the next 18 years? I know from reading we have a small system compared to most now ..

Thanks shane

AdrianC

Assuming that's the total generated, then 13,446 kWh over seven years is 1,920 kWh/year average.
At 53p/kWh, that's just over a grand a year in FiT.

Biccus1

Thats not to be sniffed at, it may need a inverter in its life which i read is about £800 so one years payments gone but add the free electricity at maybe £150 a year it should end up about 20k ..

Merlin139

There is a site where you can get an estimate of your annual production.

http://re.jrc.ec.europa.eu/pvg_tools/en/tools.html

Based on your figure and dividing by 82 you get an average figure of around 164 kWhs per month.

18 years is 216 months.

216 x 164 = 35424 kWh's So £18686.16 in FIT at todays rates. £1317.77 Export tariff.

So around £20k is a rough idea of what the system could make. If you are looking at buying out the owners of the system you will have a hard job trying to convince any future owner that your property will be worth the extra amount.

Biccus1

I know what you are saying im not going to try and add the cost not the sale price im going to keep with the estate agents price before he didn't even know they were on my roof, and hope the benefit of free electric plus £1000 per year from feeding will make the house more attractive to a buyer.. Its 10k lost for me but we live and learn

Merlin139

Biccus1 wrote: »

I know what you are saying im not going to try and add the cost not the sale price im going to keep with the estate agents price before he didn't even know they were on my roof, and hope the benefit of free electric plus £1000 per year from feeding will make the house more attractive to a buyer.. Its 10k lost for me but we live and learn

Just put a pin in a roof facing south in Norwich and came up with 1890 kWh's per year estimate.

If you find where your house is and do the same you can get a correct estimate for your house. Something that would give a real picture for a future buyer.

Also make sure you are aware of what exactly needs to be done for the transfer of ownership of the FIT to you and to any future buyer.

AdrianC

The EA didn't know the panels were there...?!?

Did he not even look in the house's general direction once?

Biccus1

It was raining when he came in so we had a look around the inside, walking into the garden but he didn’t look up, he told us what we should be able to sell for then I said oh one more thing we have rent a roof that’s when he said oh that will make selling hard as mortgage companies don’t like them , I said well I am trying to buy the lease he said well we could ask another 5 to 10k I said I would rather keep to the first figure and hopefully make the house more appealing for the same price

Biccus1

Merlin

Do you know what the fit procedure is as I will have to change to my name then let the solicitor change to new owner once I sell ? Shane