Mis Sold Solar Panels

Elaine_Prentice

I was mis sold Solar Panels by Energy Hypermarket in 2014 and promised they would be self funding. Energy Hypermarket is in liquidation and the loan is with Shawbrook. I have had a few letters from solicitors offering to take my claim on which I am not interested in. I would much rather take it up myself and avoid any legal fees. Has anyone had any success doing this themselves? if so, I am looking forward a letter template.

zeupater

Hi

Can you provide further details as a breakdown of why they don't break-even on a cost/benefit basis? ...

HTH
Z

Elaine_Prentice

Hi
Breakdown of last 3 years as below

2018/19. Loan £1320. Elec bill £615. FIT received £254
2017/18. Loan £1320. Elec bill £629. FIT £250
2016/17. Loan £1320. Elec bill £621 FIT £227

I was advised by salesman that i would be £20k+ profit by end of loan period of 10 years. I still have his handwritten draft workings that he left on an a5 notebook paper

Hope this is the figs you were looking for

Thanks

Sterlingtimes

As a starting point, how many panels have you got? For my 2014 system, I receive FIT payments for my 14-panel system of about £600 a year. Have you possibly got 8 panels?

Elaine_Prentice

Yes i have 8 panels

Ectophile

If the company is in liquidation, then your only plan of attack is against the credit company.


It would most likely be a claim under Section 75 of the Consumer Credit Act, of the basis of misrepresentation by the seller.


You might have to take a fairly assertive stance (but I don't mean shout at them). Start off by asking for a refund. If they say "no", make a formal complaint. If they still say "no", take it to the financial ombudsman.


If you're paying that much per year on 8 panels, either the interest rate is terrible, or they were massively over-priced.

Hexane

I'm no expert, but given all the shades of grey in the complaint (rests largely upon a salesman's verbal promise and some handwritten calculations), then getting a lawyer may be the best way forward. I doubt there is a standard letter template for this. Disclaimer: I am not a lawyer.

Elaine_Prentice

Yes i think this needs a bit of clout behind it. I can get free legal advice from my Union at work so I will try them. I have got rough calculations and official paperwork showing potential money generated to make it self funding. I am reluctant to respond to no win no fee letters as I saw previous posts where the fee was equal to the compensation. Has anyone used Citizens Advice?

Hexane

Elaine_Prentice wrote: »

Yes i think this needs a bit of clout behind it. I can get free legal advice from my Union at work so I will try them. I have got rough calculations and official paperwork showing potential money generated to make it self funding. I am reluctant to respond to no win no fee letters as I saw previous posts where the fee was equal to the compensation. Has anyone used Citizens Advice?

Having the printed paperwork showing potential money generated could work very well in a legal action. Many people on this forum have been presented with this sort of material, and some have been advising against being taken in by it for years. I think it would be interesting to make a case for the "potential money generated" being fundamentally - and knowingly - dishonest.

From what I recall, large parts of the "potential savings" salesmanship depended upon the assumption that electricity costs would continue to increase at double-digit yearly compound percentage rates, consistently, across a 10, 20 or 25 year period. This was always a ridiculous claim, but a good salesman can say anything as though it's true.

I would be interested in hearing what recommendations come from the legal advice you get, and if they would find it useful to have a summary of "honest" calculations as to likely financial benefits.

zeupater

Hi

If the salesman didn't supply a breakdown of the savings & returns then all you really have is what's included in the offer document and the associated T&Cs, so that's the place to start .... suggest you carefully read what you signed up for before going any further, but I'd be surprised if there's room for redress from the installer even if it hadn't folded.

Maybe there's a possibility of the finance company reducing the interest rate & therefore the overall payment as a goodwill (/face-saving) gesture, but you'll need to fully understand the financial returns potential & be able to mount a logical argument before opening a discussion with them ... apart from that it's a classic case of due diligence resulting from the old principle of 'caveat emptor' ..

HTH
Z

Martyn1981

Elaine_Prentice wrote: »

Hi
Breakdown of last 3 years as below

2018/19. Loan £1320. Elec bill £615. FIT received £254
2017/18. Loan £1320. Elec bill £629. FIT £250
2016/17. Loan £1320. Elec bill £621 FIT £227

I was advised by salesman that i would be £20k+ profit by end of loan period of 10 years. I still have his handwritten draft workings that he left on an a5 notebook paper

Hope this is the figs you were looking for

Thanks

It looks to me that you were massively overcharged for the cost of the install, and this was 'hidden' by the loan and promises.

You mention that the install was 8 panels, so probably around 2kWp, and from the loan, I'm guessing a price of around £10k.

I had 2kWp installed in July 2012 and that was £4k. Had you been charged similar, then perhaps the loan would have been around £500pa for 10yrs, and you'd be closer to breaking even.

No idea if you have a legal challenge over mis-selling, but I'd suggest the approach is that the price was insanely high, and you were tricked over this and the ability to cover it with savings/income.