Recently we talked about how LED lighting finance can help businesses reduce their monthly operating costs. To continue the series of renewable energy blogs we are now focusing on Solar PV. Just like switching to LED, Solar PV is another popular method that businesses take to reduce their carbon footprint and utility costs.
So here’s why…
- Solar PV provides free power to your building and with long term subsidy support it is a great incentive for businesses long term.
- With no moving parts this source of renewable energy has a long warranted life, typically 25 – 30 years.
- Solar PV requires very little maintenance, basic checks and cleaning is recommended 1 – 2 times a year.
- In the UK OFGEM pays a 20 year (indexed) Feed-in-Tariff for solar systems as they generate electricity.
- The FiT payments and power savings offer a payback period between 10-12 years.
- In some situations the site owner can sell power back to the grid.
This all sounds great but why aren’t all businesses investing in Solar PV? Once again it all comes down to the initial cost. According to ‘The Eco Experts’ the average 10kw system costs a staggering £15,000 – £17,000.
So what can we do to help
It’s simple, we take the large initial cost and break it down into more affordable monthly payments. With flexible terms and a variety of products to choose from our finance solutions could be the key to help your business reduce its carbon footprint whilst protecting working capital.
Example: £15,000 Solar PV system over a 5 year finance lease: £323.85 + VAT a month
- We finance the equipment, installation and delivery costs
- Simple and straightforward finance process
- Credit decisions are typically received within 4 hours
- The supplier of your choice is paid in full
- We consider any business including sole traders and partnerships
How we have helped before…
Recently we arranged a Sale & HP Back agreement for an existing customer in Bristol. The customer paid just over £15,000 for their Solar PV solution which was paid out of their working capital. With other asset purchases and building improvements in mind the hotel required a finance solution to see their funds returned back to them.
- Approved over a 5 year term
- No guarantees required
- Funds were paid within 1 working day of the original paperwork being received
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