FiT application: Impressed with EDF

[SRE]

Yep basically the same info tho, just spread out a bit more.

Just got my Fit payment from EDF exactly 2 months after I sent it in. My customers who I suggested went with Eon have all had theirs within 3 weeks.

 

[furrypants]

Update on my EDF fit application
Install date 19 nov
Application sent via email 21 nov
Letter acknowledging the application 26 nov
Application correct and approved 02 Dec

Big sigh of relief

 

[powervan]

ITS ONLY MONEY wait till a few start getting refused due to silly paperwork errors !!

 

[furrypants]

I did actually leave my account number off the application but they must have sorted that out themself from the address. Was expecting a phone call to ask for it. Never had a letter that is going to be worth so much money!

 

[stavtoon]

my panels went up today installer says loads of time for fit.

 

[SolarCity]

I think WE and not ME is a much better base for a good relationship.

I've no doubt your installer is just as keen as you to get the install in - try and understand just how hard it is for him at the moment.

 

[stavtoon]

I think my anger should be with authorities who have created this situation and your right he will be keen.

 

[gricks]

25Nov2011 Domestic FIT application sent via Royal Mail received at EDF.
01Dec2011 Letter received giving Customer ID saying we [EDF] will now check through your application to make sure everything is correct before adding your details to OFGEM. Providing your application is complete processing can take up to six weeks. I would like to reassure you that the time taken to process your application will have no affect on the payment you receive as your first payment will be based on the reading you provided in your application. If there are any problems with your application we will be in touch in the next two weeks to let you know if there is any further information we need you to provide.
[Aside: We're not too concerned about when payments start as the 25 yrs is fixed but we are concerned about the eligibility date being before 11Dec2011]
03Dec2011 Second letter received from EDF confirming they have received 'completed FIT application'. Says its been through initial check and it confirms we have provided basic required info to form eligibility at 43.3p/kWh. If on final check we find any discrepancy or irregularity this may affect your eligibility date. The onus of submitting a fully eligible application still remains the responsibility of the generator. Our next step will be to make final checks on application, register with OFGEM etc.
[So we are in limbo now and can't do anything more except wait or apply to help out in Exeter with the processing.]

 

[furrypants]

Interesting letter i got dated 2 dec says:

Your application has been thoroughly checked and i can confirm that you have met all neccessary requirements to form eligibility for the scheme. I would also like to reassure you that you have qualified for the higher 43.3p tariff, and that you don not need to do anything else at this time.

Our next step is to register your system fully with with OFGEM etc. FIt contract will be sent at a later date and does not need to be completed by 11/12/11.

I would give them a ring. As i've previously mentioned I stupidly forgot my account number but that hasn't been a problem, installer filled out all the "complicated" stuff for me.

 

[stavtoon]

My installer sent yesterday should have been received today so its fingers crossed.Would be quite interesting if i missed out on the higher rate due to my installer messing the forms up,wonder how i would stand then.

 

[and]

The wording on the original letter I had from EDF is ambiguous, saying that they will take the FiT from my initial reading onwards but doesn't specificially mention the date:

"I would like to reassure you that the time taken to process your application will have no affect on the payment you receive as your first payment will be based on the reading you provided in your application."

I phoned EDF earlier on (was on hold for 30mins) and the EDF person said that they had had a lot of enquires saying about this ambiguous part of the letter.

Anyway, she confiremed verbally my eligibility date is indeed 7 Nov; I asked if she could confirm this in an email and she sent the following straight away:

"Further to our telephone conversation I can confirm that your eligibility date has been set as 7/11/2011.


The application now needs to be accredited with OFGEM after which we will send you a copy of our Statement of Terms to sign and complete."

 

[SRE]

My installer sent yesterday should have been received today so its fingers crossed.Would be quite interesting if i missed out on the higher rate due to my installer messing the forms up,wonder how i would stand then.

If you were that concerned you should have checked them and sent them yourself Why are people always looking for someone to land the blame on before something even happens? It's your responsibility to make sure your fit application gets where it needs to.

It would be nice for once to hear how pleased you were to have help from your installer completing the forms and how impressed you were that he/she even posted them for you.

Thank goodness all of our customers have been genuinely delighted with the effort we've put in and have really appreciated the 4am finishes to get everything in place so they can take advantage of the solar gold rush.

 

[gricks]

"solar gold rush" The government would have it that way with their 5% to 9% plus rates of return. The equivalent compound interest rate is in reality quite low. Do the sum (((Total Income over 25 years/Total Outgoings)^0.04)-1)*100 %/year then check the answer with a compound interest calculator like Compound Interest Calculator
Plus you need to keep going for the whole 25 years and not have breakdowns.

 

[SRE]

"solar gold rush" The government would have it that way with their 5% to 9% plus rates of return. The equivalent compound interest rate is in reality quite low. Do the sum (((Total Income over 25 years/Total Outgoings)^0.04)-1)*100 %/year then check the answer with a compound interest calculator like Compound Interest Calculator
Plus you need to keep going for the whole 25 years and not have breakdowns.

"Solar gold rush" - refers to the aceptance that most informed installers and customers have that this is the best fit price available and that installations are at the lowest they have ever been, therefore it is about the best time to invest in solar yet. Do the maths ;-)

I didn't suggest that the investment was better or worse than anything else - after all I'm not an indpenedent financial adviser

 

[langstroth2]

"Solar Gold Rush" - it's not a bad return though.

System say cost 12,000.
Assume we stuck £12,100 in a savings account instead of paying for a shiny new solar array. With compound interest, lets say 4% AER, after 25 yrs we have ~£31,990 in our saving pot.

Or instead we stuck a shiny 4Kw array on our roof prior to Monday for £12,000 . This generates 3650KwH / year = £1580 / year. Add £23 for 3p for 50% export. £1603 / year in income (ignore any 'leccy savings or increase in FiT rate). We're good and stick our payments into a savings account, lets say paying 4% AER. After 25yrs we have ~68,200-£1,000 for the replacement inverter we had to pay for. We have £67,200 in the pot. Some £35,000 more than above.

OK in the second example for the first ~10yrs our original 12,000 was locked way on the roof and couldn't be withdrawn if needed. But then watching money accumulate in a savings account isn't quite as much fun as watching the KwH accumulate :smile5: