FAQ
The questions your accountant will ask.
And your solicitor, and your tenants.
Every answer is written to be forwarded as it stands.
Questions and answers
What's the catch?
There are obligations, and we'd rather you heard them from us. You sign a long-term agreement, give us access to the roof for maintenance, and make fixed monthly payments to the funding vehicle that finances your installation. The energy income is designed to cover them, but the payments are due whatever the building earns, including during voids. You'll see the full terms before you commit, and we'd encourage your solicitor to read them.
Cleaning is charged separately, when performance data shows it's needed. The rate is set out in your funding agreement before you sign.
Is Black Glass Capital an installer?
No. We're a solar developer. We arrange the funding, appoint an accredited main contractor who is responsible for the installation, and maintain the system for the full term.
Who owns the system?
Ownership passes to you automatically at the end of the term. Until then you have full use of the system and the income it earns. Your solicitor will see the ownership terms in full in the funding agreement.
How long is the agreement?
The agreement runs for 20 to 25 years.
What happens when the agreement ends?
Ownership of the system passes to you automatically. There are no further payments, and everything it generates from then on is yours. Maintenance becomes your responsibility from that point.
How does Black Glass Capital make money?
Black Glass Capital doesn't receive your payments. We're paid by the funding vehicle: a development fee for each building and a maintenance fee for the life of the agreement.
Can you start on my building now?
We are preparing the Black Glass Deal ahead of our first projects. A roof assessment is the first step, and every project is subject to assessment, funding and contract.
What does it cost me?
There's no capital outlay, but there are payments. Over the term of the agreement you make fixed, scheduled payments to the funding vehicle that finances your installation. The energy income is designed to cover them, but the payments are due whatever the building earns, including during voids. Every payment is set out in writing before you sign.
Are there any abortive costs?
Abortive costs only arise once you, or the stakeholder responsible, have agreed to commission a full site appraisal on the agreed buildings. They vary from site to site, and we tell you what they would be before you agree.
Does zero capital outlay mean there are no payments?
There's no capital outlay, but there are payments. Over the term of the agreement you make fixed, scheduled payments to the funding vehicle that finances your installation. The energy income is designed to cover them, but the payments are due whatever the building earns, including during voids.
What is the income basis, building by building?
Your assessment gives an indicative figure for each building, with the assumption behind every number: roof area and orientation, expected generation, who uses the energy and at what price. What's left after your payments is yours, for the term of the agreement. The split varies by building and is shown in your assessment. We can provide an illustrative example for your building when you request an assessment.
How certain is the income?
It's a projection, not a promise. It depends on how much the roof generates and who buys the energy. Your assessment shows every assumption, so you and your accountant can test them before you commit.
Does every property receive an upfront payment?
No. Some qualifying projects may also receive an upfront payment. This is assessed case by case and is not part of every offer.
Who claims the capital allowances?
Capital allowances may be available. Your accountant will confirm what applies to you.
Is my roof suitable?
We assess the structure, orientation, shading, roof condition, energy use and grid connection. Location and the tenancy position matter too. The quickest way to find out is a roof assessment.
Will solar improve my EPC rating?
Rooftop solar can improve an EPC rating. We can only estimate the likely effect on your rating. A formal EPC assessment confirms it, and we can arrange one at your cost.
What happens on sale, refinancing, redevelopment or early termination?
Sale. Typically, the Black Glass Deal transfers to the new owner as part of the sale. The funding agreement sets out exactly how.
Refinancing. The agreement stays in place. Your new lender will need to know about it and will usually want to consent, as your current lender did, so tell us early if a refinance is planned.
Redevelopment. Raise any plans for major works at assessment, so we can design around them. If a redevelopment comes up during the term, the options are likely to be relocating the system or ending the agreement on agreed terms.
Ending early. The terms for ending early are set out in full before you sign, so your accountant can price the exit as well as the entry.
Who pays for roof repairs and temporary panel removal?
Roof repairs stay with whoever is responsible for them under the lease today. If the roof needs work during the term, the panels will need to be lifted and refitted, and your funding agreement sets out who pays for that and how much notice is needed. Any problem caused by the installation is ours to put right.
Do I need my lender's consent?
If the building is mortgaged, your lender will usually need to consent. We help you prepare what they ask for.
Do my tenants have to buy the energy?
No. Tenants choose whether to buy it, at a price you agree with them. They keep their existing electricity supplier: solar from the roof supplements their supply while it is generating, and their supplier provides the rest. Your assessment shows your margin at different prices, so you can see how much room you have.
What happens during a void, or when a tenant declines to buy the electricity?
The system keeps generating either way. During a void, or if a tenant decides not to buy the electricity, it is exported to the grid instead, usually at a lower price, so income falls for that period. Your payments do not change, so your assessment shows how the figures look with voids allowed for.
Can I use the energy in my own business?
You sell what the roof generates to your tenants, and any surplus is exported to the grid. If you occupy part of the building yourself, you can use the electricity there and buy less from the grid.
Who installs the system?
An accredited main contractor, appointed and managed by us. The main contractor is responsible for the installation. We handle the programme, the grid connection and the paperwork.
How disruptive is installation?
You give roof access during installation. We agree timings and any notice to tenants with you before work starts.
How long does it take?
Timings depend on surveys, consents and grid connection, and are set out before you sign.
Who maintains the system?
We do, for the full term. We monitor the system and arrange maintenance through specialist partners. At the end of the term, maintenance becomes yours.
Not answered here? Send us a message or email contact@blackglass.uk.