- How is the system exit fee calculated if you leave the 7 year contract early?By applying for Solar Plus Plan, you are committing to a 7 year contract term, commencing from the date the system is installed at your property. You will be required to pay the system exit fee if you exit Solar Plus Plan within the 7 year contract term (including if decide to leave, you sell or move house, renovate, switch plans or default on bill payments).
The specific amount of the system exit fee depends on when you leave or are deemed to have left (known as the Exit Date) as compared to when the 7 year contract term would have otherwise expired (Expiry Date) and the value of the system as advised at the time you apply (System Value). It’s calculated in accordance with the following formula:
x x System Value = System Exit Fee y
- x is the number of calendar days between the Exit Date and the Expiry Date; and
- y is the number of calendar days between the Installation Date and the Expiry Date
We ask that you carefully read the System Contract to understand when and how the system exit fee will become payable, and how it will be calculated. However, by way of example: if your System is installed on 1 March 2020 and several years later you decide to sell your home (with relevant Exit Date being 30 July 2024), assuming a System Value of $15,350, the System Exit Fee will be calculated as follows:
944 x $15,350 = $5,669.17 2,556
For demonstration purposes, the table below shows the indicative system exit fee at the end of each contract year (assuming a System Value of $15,350).
Year end System Exit Fee* 0 $15,350 1 $13,158 2 $10,966 3 $8,774 4 $6,576 5 $4,384 6 $2,192 7 $0
*System exit fee shown here include GST and are indicative only, based on an example System Value of $15,350 and at a specific point in time.
Full details on when the system exit fee is payable and how it will be calculated are contained within the System Contract.
- What happens if I change my mind?You have a 10 business day ‘cooling off’ period from receiving your Welcome Pack to change your mind. This means you’re free to cancel your agreement at any time before this point. If we have already incurred some costs (for example, undertaken a site visit at your property, lodged the grid application or performed the meter exchange), we might require you to reimburse us for this, but you won’t incur any other cost. If you want to leave the plan after the system has been installed (including if you sell or move house) you will need to pay the system exit fee and you will own the system after doing so.
- What happens if I decide to switch electricity providers at a later date?Switching to another electricity provider within the 7-year contract term will constitute leaving Solar Plus Plan early. You will have to pay the system exit fee.
- What happens if I move out or sell my property?You need to let us know if you propose to sell your property or move out and you’ll need to pay the system exit fee.
- If I change my mind, can the solar and battery system be removed?We recommend you think very carefully about whether you want the system before applying for this Plan. We do not offer the option of having it removed.
If you change your mind before the system is installed, you’ll need to let us know as soon as possible (if we’ve already incurred some costs, for example, undertaken a site visit at your property, lodged the grid application or performed the meter exchange, we might require you to reimburse us for this, but you won’t otherwise incur any cost.)
However, if you decide you want or need the system removed or relocated after it has been installed, you will need to first pay the system exit fee to purchase the system and arrange its removal or relocation at your own cost.
- How much notice do I need to I provide if I am selling or moving?If you’re selling your property, you must notify us as soon as possible (no later than 20 business days prior to the completion of the sale or transfer). You’ll be required to pay the system exit fee prior to the completion of the sale or transfer.
If you are moving out but not selling the property, we recommend that you contact us as soon as possible so we can provide you with details of your system exit fee and to arrange the disconnection of your account at the property you are vacating.