One of Britain’s largest solar panel installers has left its own customers in agony after using a strange tactic that homeowners said has slashed the value of their properties and made them hard to sell.
Solar firm A Shade Greener (ASG) is already under investigation by energy watchdog Ofgem and has faced claims it took advantage of vulnerable customers, hounded disgruntled homeowners through the courts and signed them up for contracts without making sure they fully understood the deal.
Now has uncovered how ASG was peculiarly able to use the air above its customers’ homes as collateral for loans from Santander that could be in the hundreds of millions.
The crux of the method is that when ASG placed solar panels on people’s houses it was actually leasing the air above their roofs – called the airspace – from homeowners.
This gave the company the right to put solar panels on customers’ roofs but also prevented homeowners from removing them permanently.
Every lease that has seen is an unbreakable 25-year agreement giving homeowners free energy from solar panels while allowing ASG to sell off any extra energy that goes unused.
Since homeowners didn’t have the right to remove the panels permanently, this made the leases incredibly valuable and ASG gave the promise of this steady income as collateral for loans using almost 16,000 of its customers’ addresses, documents analysed show.
Yet many homeowners said they were unaware of the loans against the airspace above their houses and while ASG believes the loans should not affect a sale of the freehold, estate agents have said potential buyers raised concerns and it has affected property values.
Unfortunately, while ASG’s chief financial officer appears to have spoken about raising £500million in four years, without the unredacted charge documents – which ASG has not released – it is not possible to know how much of that money was borrowed against the airspace above customers’ homes.
ASG can make money from people’s homes in a few different ways.
Firstly, in exchange for free energy, homeowners lease out the space above their roof to the solar firm, which installs the panels.
The firm makes money through the Feed-In Tariff (FIT), selling its customers’ unused energy made through solar panels back to the grid.
The agreements are in place for 25 years and even if a homeowner sells the property, the contract would still be valid with no option to buy out of it.
The company, which is run by ex-Darlington Football Club chairman Stewart Davies, then took out loans from Santander against the airspace at 16,000 addresses, as per the list on the charge documents.
Many of the homeowners say they were unaware of these charges against the airspace above their properties until they came to sell their homes.
has created searchable PDFs of the charge documents with the addresses of homes that have airspaces that appear to have been used as collateral for loans, which are at the bottom of this article.
ASG’s lawyers challenged our investigation but confirmed the company indeed took out loans in the way described above.
Not only have they been hit with costs they say they did not know about despite ASG’s initial claims the solar panels would not cost them a penny, but now their homes could face problems when they come to sell them.
Homeowners who removed the panels themselves said ASG threatened them with court – and having sued at least three of its customers so far, they fear it may well not be an empty threat.
Stephen McKay, 62, is a housing specialist and project manager in Halesowen, in the West Midlands.
His daughter Lauren bought a house in Halesowen with ASG solar panels on.
ASG has not taken a loan out against the airspace on her home.
However, the company has threatened her with court action for removing the solar panels to repair a leak in her roof.
Stewart Davies, 73, is the boss of A Shade Greener (ASG), a solar panel company that promises free energy and excellent support to its 70,000 customers.
Davies is listed as a director of 32 companies. All but two are registered with the same address in Barnsley, South Yorkshire. The two others are registered at the building next door.
He refused to comment on his style of business when approached by .
In 2004, Davies became chairman of Darlington FC when the group of lenders he was part of took over the football club after it went into administration.
The club’s former chairman was George Reynolds, a former convict who reportedly borrowed £2million in 2002 from Sterling Consortium, which included Davies and other partners at accountancy firm BKR Haines Watts.
Sterling Consortium reportedly lent money at high interest rates to other football clubs in a financial jam including Cambridge United, Scarborough, Barnsley and Chesterfield.
When Reynolds was caught with £500,000 of cash in the boot of his car in June 2004, the police started investigating him for money laundering.
His lawyer said the money came from Reynolds’s solicitor’s account.
Reynolds pleaded guilty to tax evasion, with the money laundering charge ordered to lie on file. He was jailed for three years.
Her father is furious with the company. He said: ‘They struck me as a bunch of bullies. I wouldn’t recommend them to anybody.
‘We are just in despair. I would like to think Ofgem can force ASG’s hand.
‘Lauren was left money by my late wife, her mother. She was only 25 when her mother died at the age of 60.
‘We chose to take the panels off and the roof tiles were missing.
‘There was a bit of a leak – that cost £5,000 to fix.
‘ASG wrote to us threatening court.
‘I don’t like bullies. The house was something she bought. It was her first house and she was really excited.
‘Now it’s like they are holding her to ransom.
‘They have put scaffolding on her house [to allow them to access the roof], which is a security risk.
‘It’s been there for a year. It’s not right. The panels would hamper any sales. A lot of ASG customers are vulnerable.
ASG told Stephen was the ‘true antagonist’ and ‘exacerbating a situation’ for his daughter.
It said if the solar panels could not be reinstalled on his daughter’s house, they would sue her.
Homeowner Stuart Potter was sued for defamation by ASG after he complained about them online.
When he found out the company had taken out a loan against his airspace, he said he felt ‘utter disbelief, shock and horror’.
He said: ‘I never knew or agreed to any of this.
‘It left me feeling deeply distressed and betrayed.
‘The utter lack of transparency and communication from ASG has been both alarming and disheartening, first making me question the integrity of the entire agreement, and now making me want it gone whatever it takes.
Speaking anonymously, another homeowner whose airspace was used as collateral told they had been unable to sell their home because of the charge listed on their address.
They say they had no idea it even existed until they came to sell their house.
The homeowner, who ASG has sent multiple letters threatening court action, said: ‘When I found out, I was devastated.
‘I had no idea about what they were going to do.
‘None of this had been explained to me. I was shocked for them to do this without my knowledge.
‘I’ve got to get this off my house. It’s so complex, nobody will touch it.
‘I feel completely ripped off. The government needs to step in and help us. Ofgem has the power now.
‘ASG is still sending me threatening letters. They are horrible people.
‘Isn’t is just a can of worms? I just hope and pray.
‘We are looking for a solicitor who could take this on for a group of us.’
Ralph Wilson is another homeowner who says ASG’s solar panels have prevented him from being able to sell his house for its estimated value.
According to Rightmove, a nearby home with the same number of bedrooms and bathroom as Mr Wilson’s house sold in September for £370,000.
But Ralph fears his home will not sell for anywhere near that amount.
After two years on the market, he branded his house ‘unsellable’.
He had wanted to use the money from a sale to pay for dementia care for his mother.
Yet he says a series of buyers pulled out because of the solar panels and ultimately his mother died before the house could be sold.
The father-of-one told : ‘I was desperate for the money to pay for my mum’s care.
‘She had dementia and it was horrible at the end. The last six months, she didn’t even know me.’
He added: ‘This house is a noose around our necks and a constant worry. I feel powerless.
‘It’s a nice area. It’s very good for a local school. It’s a sought-after location.
‘If I could [afford legal] counsel I would. I would love to have my day in court.
‘It’s a scandal. I have got an unsellable house.’
ASG’s legal department told Ralph: ‘There is no option to buy the system or for early removal… there is no option to buy out the lease.’
Letters from Ralph’s estate agents appear to confirm ASG’s solar panels had been a major factor hindering sales.
Estate Agents Baker, Wynne and Wilson, who are trying to sell the house for Ralph, told : ‘A lot of people have said they have seen the reviews of the solar panel company.
‘A lot of people want information. It’s been a bit of a nightmare.
‘It’s a very quiet corner plot, walking distance to major schools and a great price.
‘Presently we are marketing the property for £215,000, asking for only cash buyers due the solar panels being the complication with regards to any sales.
‘We will obviously try our utmost to try and find a prospective purchaser with our high profile internet advertising on Rightmove, On the Market and Baker, Wynne and Wilson and social media coverage.’
Ralph also asked another estate agent, Gary Fear, to help out.
Mr Fear told Ralph: ‘We have conducted several viewings since July when the property was placed with us. We have also received offers, all of which are below the asking price.
‘In my opinion, I don’t see us getting any offers higher than the figures that have been put forward so far.
‘To put it plainly, the property is blighted by the issue with A Shade Greener and the solar panels.’
Mr Fear told : ‘It’s been blighted by the solar panels and the incredibly restrictive lease.’
Thankfully, Ralph has found a buyer and hopes to close in December. However, he will only make £200,000, a far cry from the £370,000 his neighbour sold a similar house for.
ASG claimed its panels were a positive asset to Mr Wilson’s house and that Ralph’s estate agents had given him an unrealistic valuation.
Now, many homeowners are looking to Ofgem for help. The watchdog has been investigating ASG for months.
A spokesman for the Department for Energy Security and Net Zero said: ‘This is an appalling situation and Ofgem is urgently looking into the hugely worrying accusations levelled against the company.
‘If it finds any act of non-compliance, we will not hesitate to support Ofgem in using all its powers appropriately.’
An Ofgem spokesman said: ‘We are aware of the allegations against A Shade Greener and are continuing our inquiries.’
Santander refused to comment or reveal how much they have loaned to A Shade Greener.
ASG said: ‘We refute entirely any allegation that this scheme and the solar systems in situ would devalue, hinder or cause any issues whatsoever when selling or remortgaging a property.
‘The myths and speculation driven by [a Facebook complaint group of almost 2,000 people] around difficulties in selling homes is simply not true and the facts, evidence, external reports, past performance and growing general public approval for solar panels prove this.’
The company added: ‘No mortgage companies have ever applied to ASGM for the removal of the solar panels under the Council of Mortgage Lenders’ variation clause.
‘The lease is for the airspace only over the property, it is not a personal contract and does not affect the freehold title in any way, enabling the freehold to change hands in normal conveyancing.
‘We do not believe we have acted unscrupulously, unfairly or dishonestly.’
Despite previous reports that people with panels had slammed ASG for hidden costs, such as paying for bird guards and scaffolding, the firm said: ‘[We are] covering the entire cost of the equipment, installation costs, total maintenance and insurance of the solar panels and equipment for the full term of the airspace lease.
‘The business model relies on having a return on that considerable outlay from the receipt of the Feed in Tariff and the term of the Lease was determined by the initial duration, namely 25 years. This is why there is no specific option for early termination of the airspace lease or removal of the solar panels.’
Despite admitting the lease was for the ‘airspace only’, ASG later claimed: ‘The collateral (leasehold property) is the solar panel system itself only.’
Search for your address to see if A Shade Greener has used the airspace above your home to raise money:
If you’re on a computer, press Ctrl and F and then type in your address. For mobile: If you’re on an iPhone, press share, scroll to Find in Page and type in your address. If on Android, tap the three dots on the bottom right, click Find in Page and type in your address. If your phone will not search for them, you can also view the two documents here: https://i.dailymail.co.uk/i/pix/2024/12/09/A%20Shade%20Greener%20charge%202.pdf and https://i.dailymail.co.uk/i/pix/2024/12/09/A%20Shade%20Greener%20charge%201.pdf.