Solar Panels

January 2013

Solar Panels

Reduced energy bills?  Free electricity?  Making money from excess solar energy?

Are these all questions you are asking yourself?  

Thinking of having solar panels installed?

It is becoming increasingly popular for homeowners to have Solar Panels installed at their property and benefit from “cheaper” electricity costs.

It is important to understand the legal implications of entering into Contracts with companies offering Solar Panel installation.

There are 2 main ways of doing this:-

  1. By entering into a long lease with the installer who will create a Lease over the airspace above your roof, so creating a new leasehold title in the name of the installer/provider.  This is something that your mortgage lender (if any) must approve and we can deal with them on your behalf and ensure that the Lease complies with their requirements.  Even without a mortgage on your property, a future buyer could need a mortgage to purchase the property, so it is important to check it would be Mortgage Company compliant.
  2. Purchasing the equipment upfront and therefore benefitting from solar energy and potentially selling the excess back to the grid

Both ways mean entering into a legal Contract which often last for some 20 years and it is therefore important to understand the terms and obligations on you and future owners

We have experience in dealing with both forms of agreement; please do contact Eleanor King on 01296 318500 who will advise you on the terms.