Many Australians may still be unaware they can install solar power systems now and pay nothing up front – and the repayments can be less than what they are currently spending on mains-supplied electricity.
Power prices have skyrocketed in recent years and while government incentives to go solar have decreased, the cost of installing systems has also plummeted; making an even stronger case for households to install solar panels.
Even so, one of the only remaining barriers to many people making the switch to solar power is the initial outlay.
However, Australians have been able to install solar for zero dollars up-front through national provider Energy Matters for some time.
According to the company, its zero-dollar offering has rapidly gained popularity as news of its existence spread. By November last year, a third of new installations by Energy Matters were carried out under its payment plan initiatives – up from a figure of 3% in late 2012.
Energy Matters’ Pay As You Go is based on innovative financing arrangements; whereby the system is paid off over 7 years. Other arrangements are available over a shorter time frame.
As an example, a 5kW solar panel system installed under the zero-deposit Pay As You Go model can return a financial benefit of up to $2,400 a year in terms of electricity bill savings; depending on installation location and energy consumption profile.
At a weekly system repayment rate of $27.25; households can start making immediate savings. Sweetening the concept is the fact that after the repayment period, the electricity generated is essentially free.
The Pay As You Go process is quite straight-forward. Energy Matters designs the system in consultation with the customer; then assists in the preparation of the application to the company’s third-party financier. Once the application has been approved, Energy Matters installs the system and then monthly direct debit arrangements take care of payments to the financier.
Further details about Pay As You Go are available from the Energy Matters web site, or by contacting the company on 1800-EMATTERS (133-786).
