Barclays Self Funding Solar Panels

The company has set aside 38 5m part of which is to fund payouts.

Barclays self funding solar panels.

In december 2018 the government confirmed its intention to end solar panel incentive payments on 31 march 2019 meaning people who have solar panels installed after this won t receive payments for generating electricity or exporting it to the grid. Were you told the panels would be self funding. Barclays said a 38 5million fund had been set up to compensate customers across a number of different product areas including solar panels. Thousands of customers have complained about being mis sold finance for the installation of solar panels on their homes roof according to a bbc news report.

Barclays partner finance part of the wider banking group sold financing arrangements for solar panels between 2011 and 2015. Barclays bank has become embroiled in a fresh mis selling scandal after the ombudsman found evidence that some households were misled into taking out loans to put solar panels on their roof the. The panels are self funding they also stated they had a partnership with the government to provide the panels as in grants. Barclays is facing a 38 5 million bill to compensate households over solar panel loan mis selling and other failings by businesses that brokered its finance deals barclays partner finance a.

The bbc says that two defunct companies pv solar uk and myplanet are accused of mis selling loans from barclays bank to fund domestic solar pv systems supplied and installed by them. I have received 35 less generation than the contact said i would produce annually. Barclays is one of a number of institutions reportedly under investigation over high pressure sales tactics and mis selling of loans to fund domestic solar panels by david campbell posted 8 may 2018. Lincoln green solicitors are acting for hundreds of people who were tricked into purchasing solar panels.

Shawbrook bank was contacted for comment. Barclays partner finance solar panels missold.