Installers Mis-Sold Thousands of Solar Panel Systems
We are currently working with clients who were mis-sold a Solar Panel System within the last six years.
From 2013 there was a huge increase in residential property owners buying Solar Panel Systems in the hope that they would help the environment and save money on their energy bills whilst earning an income from feed in tariff (“FIT”) and export tariff payments from the energy provider.
These systems were expensive and could cost anything up to £10,000.00 so the installers of these systems offered their customers a finance package to fund the costs of the system. The installers would act as an agent of the bank and get the customer signed up to a fixed sum loan agreement. The customer would a monthly direct debit to pay for the system over a set period.
Many customers were signed up to loan agreements that last 10 years with a 9.9% APR.
Many of customers purchased systems on finance based on the promises or representations made by the installer. The most common representations were that the system would ‘’pay for itself’’ or that the system was ‘’self funding’’ or that the monthly income from the FIT and export payment along with the bill savings would “offset” the monthly direct debit loan payment.
However, this is simply not the case. Our clients have experienced poor performance from their systems with little returns. In addition to the lack of financial returns many of our clients have suffered property damage as a direct result of the installation of the system.
If you have purchased a solar panel system and believe that your installer mis-represented the performance and returns of the system we can help you make a claim even if the installer has now gone out of business.
If the company you bought the system from has gone out of business but you took out finance (used a credit card or took out a loan) to pay for the system, you can still make a claim under section 75 of the Consumer Credit Act 1974. The Act allows you to pursue a claim against the finance company. This also applies to customers who paid, or part paid, for the system using a credit card. Please note that you are only eligible to make a claim if your system was installed in the last 6 years.
If you feel that you have been affected by this issue complete our general enquiry form and we can help you pursue a claim on a ‘No Win – No Fee’ basis. We will aim to hold the installer and creditor to account and look to write off the loan and recover a refund for all payments made to date.