By applying for a Solar Home Bundle, 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 Home Bundle 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 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 2022 and several years later you decide to sell your home (with relevant Exit Date being 30 July 2026), assuming a System Value of $14,820, the System Exit Fee will be calculated as follows:
For demonstration purposes, the table below shows the indicative system exit fee at the end of each contract year (assuming a System Value of $14,820).
System Exit Fee*
*System exit fee shown here include GST and are indicative only, based on an example System Value of $14,820 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.