Unlock the value of your solar PV system
REI’s innovative ‘Buy-Back’ scheme has been developed to provide business owners with a highly transparent, seamless and efficient way of unlocking the value of their existing solar PV system.
Whether you need cash to invest and acquire new equipment or plant, improve your existing facilities, develop new products or simply to repay bank borrowings, we can help.
We will offer you a cash sum in return for you transferring your Feed-in Tariff payments to us and entering into a solar rooftop lease. You will continue to benefit from completely free electricity and will have no worries or concerns about the system performance or maintenance, as we will take care of this.
How our commercial scheme works
Initial solar PV system valuation
Customers provide us with specific information about their solar PV system, including:
• Full postal address
• MCS Feed-in Tariff (FiT) Accreditation number
• The current system generation meter reading
We are then able to provide an ‘indicative valuation’ for your solar PV system based on today’s market value.
The price is valid for 30 days and is subject to a technical survey.
Should you wish to proceed with our offer, you will be required to sign a Heads of Terms Agreement along with a letter authorising us to speak with your Mortgage Company.
Technical Survey & Lender Consent
Once we receive your signed Heads of Terms Agreement, we will arrange for one of our Technical Experts to visit your home, at a time convenient with you.
They will review and confirm that your system is operating as per its original design and forecasts, and that the warranties provided by the equipment manufacturers remain live and valid.
Once the technical survey is complete, we will confirm our final offer.
We also need to consult with any lender who has a legal restriction (e.g. mortgage) over the property as part of the process of acquiring a solar PV system. In our experience most lenders are familiar with these systems and understand what is involved. We will deal with this on your behalf.
Once you have confirmed that you wish to proceed, we will issue you with a purchase contract confirming the values agreed, along with a solar rooftop lease and an authorisation to transfer your Feed-in Tariff Licensee.
A solar rooftop lease is registered at HM Land Registry and the details are recorded against the Title Register for your property. This provides us with a form of security as a tenant in that the lease terms are transferred to any new owner, upon sale of the property, for the remaining period of the lease.
You will be required to sign and return the purchase contract, lease and FiT transfer documents to us.
Upon receipt of your signed documents we will:
Execute the Agreements
Pay the agreed funds directly into your bank account
Assign the Feed-in Tariff payments to us
Arrange for a new generation meter to be installed to enable us to monitor the system performance remotely (at our cost)
Implement our operation, monitoring and maintenance agreement
It is a very simple, straightforward and transparent process.
You will be in control at every step of the process and have a right to cancel until such time as we have executed the Agreements and processed the payment of monies due to you for your system.
For further details, please have a look at our Frequently Asked Questions, or fill in your details to download our Commercial brochure at the bottom of the page.
If you would like to find out more about our scheme please email your name, company name, telephone number, full address and preferred date and time for us to call, to [email protected].
We look forward to being of service to you.
Our Commercial Buy-Back Brochure
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