Start your FREE Enquiry
Solar Panel Scam
8 April 2022
Mr O received a settlement of £5,000 and was able to keep the solar panels.
Full story below…
Mr O purchased a solar panel system after responding to an advert. He had wanted to save money on his electricity bills and considered that solar panels would be ideal for his needs.
During a meeting with the solar panel sales company, Mr O was assured that the solar panel system would self-fund and effectively ‘pay for itself’. He was advised that the solar panels were an investment as they would decrease his electricity bills by a substantial 40%, and that they would also produce an income for 25 years from Feed in Tariff (FIT). The savings and income would therefore cover the monthly finance payments.
Mr O agreed to purchase the solar panel system using a 10 year finance agreement, paying monthly installments of £83.82 on the basis that he would make back at least this amount per month from the FIT and bill savings. Upon examining the FIT payments and the monthly bills, it became evident that he was saving a mediocre £13.00 per month, leaving a deficit of over £70.00 a month. Given this shortfall he was left with no option but to redeem the finance agreement from his savings.
A claim was made against the finance provider who initially rejected Mr O’s claim. TRUE were able to reverse the position after requesting that the Financial Ombudsman Service (FOS) review the complaint and the basis of the rejection. This resulted in a settlement with the finance provider of almost £5,000.00 with Mr O keeping the solar panels.
Mr O commented ‘I’m extremely happy with the result. The settlement that TRUE we’re able to obtain for me, has massively helped financially.’
