I think 25 years is too long a commitment, is there a shorter lease option?
We only offer a 25 year lease. By entering a contract to buy solar electricity you are fixing a portion of your electricity costs for the long term and limiting your exposure to increasing electricity prices.
Will I receive rent for leasing my roof space?
You will not receive rent, you will receive discounted electricity and an index linked price.
What happens if I want to do something with my roof in the 25 year timeframe (e.g. add another floor to the building, put plant on the roof)?
You would have to pay to take the panels off the roof and to put them back on again. You would also have to pay for lost revenue while the work takes place. It is possible that air conditioning plant could be facilitated but the effect on the solar installation would have to be assessed.
Apart from giving you my roof space and buying your solar power what other commitments do I need to make?
We will need access to the building and to your power supply connection from time to time for maintenance. You cannot build something or plant trees adjacent to the solar installation that could cause shading.
There is a legal charge or mortgage on the property. Does the bank have to grant consent to the lease?
Yes, you must consult with any lender who has a legal charge over the property before agreeing to install a solar PV system, but in our experience most lenders are familiar with the installation of these systems and understand what’s involved. We can deal with the bank on your behalf.
At the end of the 25 year lease period what happens?
There are a number of options open to the building owner:
We can remove the equipment from the roof and ensure the roof is made good and left watertight
You could buy the panels at the market value and continue using them as they will still be generating electricity at about 80% efficiency at year 25.
We could install new panels and set up a new lease agreement (depending on roof condition).
Can I terminate the contract at any time before the end of the 25 years and what are the implications for me in exercising that kind of option?
Yes you can; there is break clause in the lease after five years of operation but there will be costs associated with terminating the contract early.
Will you remove all the solar equipment from my roof if I want to terminate?
Yes, we will ensure the roof is made good and left weather tight.
What happens if we move or sell our property?
If you sell your property after installing Funded Solar within the 25 year lease term, the lease is transferred to the new landlord automatically. Kingspan ESB will sign a new PPA with the new owner in order they may continue to enjoy the benefits of the discounted green electricity it generates. If the incoming owner is happy to sign up to our lease and PPA then the lease is not broken.