Payment Plans
Solar PV
The Basics
What are the advantages of funding my Solar system through SMARTech energy green asset finance partners instead of a bank?
SMARTech energy green asset finance partners offer competitive rates, a simple application process, and significantly faster approvals compared to banks. We assess applications using different criteria than banks.
How much do I need to pay upfront?
There are no upfront costs associated with any of our payment solutions. Your costs are spread across the duration of the Payment Plan and are typically payable monthly.
What is the duration of a Payment Plan?
You can choose the length of time that suits your business, based on the monthly instalments.
Will the monthly Payment Plan instalment amount change over time?
No. Once the equipment is installed and settlement occurs, your payments are locked in for the term of the Payment Plan. Interest-rate increases will not affect the monthly instalment amount.
Are there any documentation or ongoing monthly fees?
No. There are no hidden charges or additional fees beyond your scheduled monthly repayments.
Our Payment Solutions
Payment Plans
Which payment solution is right for me?
Choosing the right payment solution depends on two key factors:
- How you want to manage your payments
- What works best from a tax perspective for your business
We offer two types of Payment Plans: an Asset Finance Agreement (or Loan), which typically suits customers who don’t want to pay upfront and prefer manageable monthly instalments over a term (from 2−10 years). Customers also have the option of an onsite Power Purchase Agreement (PPA).
Why choose a Payment Plan over a PPA?
Smaller businesses (those needing a 70kW system or smaller), businesses that use electricity mostly outside daylight hours, or businesses with peaky or inconsistent loads are better suited to a Payment Plan than a PPA.
Examples include businesses operating at night, seasonal businesses (such as fruit-picking), and production-run businesses (e.g., printers).
How does an onsite PPA Agreement work?
Onsite solar PPAs are ideal for large businesses operating during daylight hours and typically requiring big or complex systems. They are suited to both building owners and tenants.
A PPA best suits businesses that:
- Require solar systems larger than 70kW
- Have minimum monthly power bills of £1,500 or more
- Have consistent energy loads
- Prefer to outsource the maintenance and upkeep of the system
PPAs are typically in place for 7−30 years and are best suited to well-established businesses. Examples include manufacturing facilities, schools, cold-storage facilities, distribution centres, and agricultural businesses.
Power Purchase Agreement (PPA)
What kind of business is an onsite PPA ideal for?
Onsite solar PPAs are perfect for large businesses that operate during daylight hours and typically require large or complex systems. They are suitable for both building owners and tenants.
A PPA is best for businesses that:
- Need solar systems sized over 70kW
- Have minimum monthly power bills of £1,500 or more
- Have consistent energy loads
- Prefer to outsource the maintenance and upkeep of the system
PPAs typically last for 7−30 years and are well suited to established businesses, such as manufacturing facilities, schools, cold-storage facilities, distribution centres, and agricultural businesses.
Why choose a PPA over a Payment Plan?
If you want to reduce your energy costs without the responsibility of owning and maintaining a large solar system, an onsite PPA could be the best option for you. Unlike other PPAs that only suit owners, our PPAs can be suitable for both tenants and owners.
PPAs are ideal for large businesses that operate mainly during daylight hours, have high energy needs, and prefer a fully serviced solution. You’ll receive accurate sustainability data for reporting and equipment upgrades as technology advances.
How does an onsite PPA Agreement work?
Once you confirm your solar project and sign your PPA, your solar system will be installed at no upfront cost. You then purchase the power generated by the solar panels at an agreed low rate (approximately £0.09−£0.15/kWh) for the duration of the PPA.
SMARTech energy handles all repairs and maintenance, and you simply continue to buy energy at a lower rate than you would from the grid.
Benefits of Payment Solutions
What are the business benefits of paying for equipment using a payment solution?
Payment solutions enable businesses to acquire equipment without tying up capital. You pay nothing upfront and instead make manageable monthly instalments, which helps with cash flow. The specific benefits vary depending on the payment solution, but all options allow you to free up capital to invest in other business growth opportunities. Start benefiting from your new Solar system immediately while deploying your capital elsewhere.
How can installing solar and energy-efficiency equipment using payment solutions be a cash-flow-positive investment?
If you invest in solar equipment, your electricity costs will be lower as soon as the system is installed—often by up to 60%. Contact us for an initial review. The savings on your electricity bill are typically greater than the Payment Plan instalments, making the investment cash-flow positive.
Other Considerations
Can my business transfer this Payment Plan or Agreement to another entity?
We understand that circumstances change. If you sell or move on from your business or premises, you may be able to transfer your Payment Plan agreement to another party (subject to a fee and credit approval of the new entity).
What happens if we need to terminate the agreement early?
All of our agreements are fixed-price contracts, meaning they have a predetermined value for the goods or services provided. If you need to terminate your agreement early, please contact us, and we will provide you with an early termination payout figure.
If you have a questions or would like more information then please complete this form and we will be in contact.