The most popular option is to buy your solar panel system from an MCS accredited installer such as isoenergy. This way you own your system and will benefit from both the electricity savings and any Smart Export Guarantee yourselves. You will however be responsible for maintaining the system and of course, you will need to pay for the system outright when its installed.
Leasing has been introduced as an alternative option to purchasing solar panels and provides access to the technology without the upfront cost. This gives you access to the latest solar PV technology and you will benefit from the savings generated by the panels. The leasing company will normally keep any Smart Export Guarantee for themselves, contributing to their payback.
Leasing agreements vary, but they do have some points you should consider carefully before committing.
In most cases there will be a fixed term in which the owner of the system has the right to have the system installed and generating on your site. This may mean that roof repairs or landscaping may cause you to incur penalty charges should it impair the ability of the system to generate to its full potential. This fixed term can often be up to 20 – 25 years (the expected life of the installation) which can make selling the property more complicated than selling one where you own the PV system outright.
Like any financing option, over the term of the lease the renter of the solar panels will pay significantly more than if they bought the system initially. This will likely make the overall financial payback of the system significantly less attractive.
When leasing, the company will normally be responsible for the maintenance of the panels and will require access to them for the period of the lease.
In summary leasing is a viable option for the installation of green technologies such as solar PV and provides the leaser some benefits. However, the same system will cost more in a leasing arrangement, reducing financial return and the leasing agreement can be restrictive to the owner of the property in terms of property maintenance and moving property.
Isoenergy solar systems are owned by you. So everything the system generates is yours including any subsidy and the savings from generating your own electricity.
If you are interested in finding out how much a solar panel system could be saving you, get in touch with us on 01293 821345.
