Solar energy is taking over the world. In 2014, solar energy recorded an exponential growth with an estimated 40GW installed worldwide for a total global capacity of about 177GW. By 2015, there were more solar installations than fossil fuel generation plants.
The increase in costs of electricity and drop in price of solar systems drove people to explore solar options and think about reducing the amount of money they were spending on their power bills.
The conventional way to get solar on your roof is to buy it outright. Of course, this is not cheap, with the payback taking up to nine years. Now, people are looking into installing solar through a leasing agreement.
By leasing you won’t have to deal with monthly maintenance
Leasing and buying solar has many distinctions. Buying solar means you pay for the solar panel yourself, either with cash or via a bank loan. With solar leasing, the third-party who installs it, owns it, and you just sign the Power Purchase Agreement (PPA) with them, enabling you to have access to clean energy at a reduced price.
The two schemes have varying impacts: costs, maintenance, financial offsets and return of investment. The debate on which one is most efficient and cost-effective depends on your chosen method of saving.
If you want to maximise financial benefits — and have cash available to pay for the instalment up front — then buying solar is your solution. If obtaining clean energy with limited financial risk then you are better off with solar leasing.
Here’s the breakdown:
Table 1 Difference between Solar Buying and Leasing
|Solar Buying||Solar Leasing|
|Installation Cost||To be paid by the owner up front||Free|
|Maintenance||Owner is responsible for the maintenance of the system||Maintenance is free and is provided by the leaser|
|Saving||Potential of saving costs is higher, but your payback will take up to nine years.||Potential of saving costs is lower, but your financials gains will be immediate.|
Contained Energy is able to offer you solar solutions at zero up front costs under a solar leasing scheme. You just pay for the clean energy you use, often at a discounted rate, without having to worry about maintenance. With one easy step, you can start using clean, green energy and enjoy the savings.
How It Works?
- Contained Energy surveys your property and submits a proposal to install an appropriate solar system and an applicable tariff arrangement.
- Upon agreement, Contained Energy installs the system at no cost to you.
- Once finished and operational, we send you a monthly bill for the solar energy you have used according to the tariffs agreed.
Simple as that!