Solar System - ‘PIP’ style repayments

Pzulba

Has anyone had dealings with ‘outfits’ offering ‘PIP’ style repayments based on MCS figures?

PZULBA - Out of Africa (Retired)

System

Pzulba wrote: »

Has anyone had dealings with ‘outfits’ offering ‘PIP’ style repayments based on MCS figures?

PZULBA - Out of Africa (Retired)

Sorry, but I am struggling to understand your post. The Government sets the payment rate which comprise a Feed in Tariff payment and an export payment ( the latter is either metered or is based on 50% of the kWhs generated during each 3 month period). The MCS figure is only an assumed output which can, and does, vary. For owners, they are paid the FIT and export payments by their nominated supplier. For ‘rent a roof’ schemes, the panels owner gets the payments, and the homeowner gets the benefit of the generated solar output. I am not sure how PIP comes into the equation ( assuming PIP stands for personal independence payment).

Cardew

Just to elaborate on the above, the level of Feed in Tariff payment is dependent on when the solar panels were installed starting in April 2010.


Early adopters get well over 50p for every kWh they generate.

Mister_G

Cardew wrote: »

Just to elaborate on the above, the level of Feed in Tariff payment is dependent on when the solar panels were installed starting in April 2010.


Early adopters get well over 50p for every kWh they generate.

Indeed. Actually 52.75p/kWh plus 3.72p/kWh on 50% of electricity generated.

Pzulba

Appreciate haven’t explained things too well, have been contacted by an outfit operating on lines of ‘PPI’ Payment Protection Insurance touts (Yes PPI not PIP)
They are offering ‘Refunds’ based on misleading MCS figures especially if initial solar payment/deposit was via C/card & over £100 thus activating section 75 payments
All on a No Win/No Fee basis
In my case they reckon I’m due upto £11K!!!

PZULBA Out of Africa (Retired)

And yes I know there’s no such thing as a Free Lunch!!!

System

Pzulba wrote: »

Appreciate haven’t explained things too well, have been contacted by an outfit operating on lines of ‘PPI’ Payment Protection Insurance touts (Yes PPI not PIP)
They are offering ‘Refunds’ based on misleading MCS figures especially if initial solar payment/deposit was via C/card & over £100 thus activating section 75 payments
All on a No Win/No Fee basis
In my case they reckon I’m due upto £11K!!!

PZULBA Out of Africa (Retired)

And yes I know there’s no such thing as a Free Lunch!!!

Walk away and do not look back. Have you any reason to believe that your MCS figure is wrong? I had PV Solar for 6 years (we have just moved house), and my output usually exceeded the MCS figure.

In the unlikely event that this gains traction, you will have the opportunity to submit your own claim.

Cardew

Pzulba wrote: »

Appreciate haven’t explained things too well, have been contacted by an outfit operating on lines of ‘PPI’ Payment Protection Insurance touts (Yes PPI not PIP)
They are offering ‘Refunds’ based on misleading MCS figures especially if initial solar payment/deposit was via C/card & over £100 thus activating section 75 payments
All on a No Win/No Fee basis
In my case they reckon I’m due upto £11K!!!

PZULBA Out of Africa (Retired)

And yes I know there’s no such thing as a Free Lunch!!!

On MSE there have been many reported cases of solar sales firms who have used outrageous claims of potential savings. These schemes are often tied in with loans from a reputable bank at high interest rates.

The principle is that these(inflated) savings will repay the bank loan and leave a surplus.

However as stated above it is unlikely that they will use an incorrect MCS figure for predicted generation. The 'outrageous claims of savings' might use assumptions and predictions. e.g all generated electricity used in property, using unrealistic electricity prices, assumptions of high inflation of electricity prices and increases in FIT/export.

It is difficult to see where these firms would have the money to refund customers for misselling. Many of these firms have ceased trading, and if any serious action was to be taken against firms still trading, they would also fold.

Personally I doubt if the banks could be held liable. Barclays was named in several posts as providing the loan for some schemes. If
the house owner moved, they would obviously still be liable for their debt. If the Bank lent me money to buy a car(not HP), that money is still owed even if the car didn't average 200 miles per gallon or I sold the car.