An increasing number of commercial solar specialists are offering owners of solar photovoltaic (“PV”) arrays on their homes and businesses a lump sum payment in exchange for the right to claim the Feed-in Tariff (“FiT”) in respect of the electricity generated by the solar array for the remainder of the FiT contact.
These ‘buy back’ schemes are becoming an increasingly popular investment tool for commercial solar specialists. Furthermore, they offer the owner of a PV array the chance to realise their investment early on their periodic FiT payments, whilst retaining ownership of the PV array and enjoying the continued use of the free electricity generated, with the commercial solar specialist taking on the maintenances of the PV array for the duration of the FiT contact.
In general the commercial solar specialist will wish for the PV owner to enter into a Lease of the PV array. This will require careful thought and you should take specialist advice before either entering into a lease or providing one to a customer. If you are a roof owner you should always take care with who you are dealing and ensure you have full information about the company.
The Renewable Energy team at Stephens Scown have vast experience in the rooftop solar sector, working with commercial solar specialists and PV owners in respect of such buy back schemes. We offer first-class advice in respect of the purchase and selling of PV arrays, together with the negotiations surrounding the lease of the rooftop.
Whether you are a commercial enterprise looking to invest in FiT contracts or a PV owner who has been approached by a commercial solar specialist, contact the team today to see how we can help.