Financing your solar PV installation
Solar PV installations involve an initial outlay, with the benefits realised over time. Working with Westwood Energy gives you a number of options for financing your project so you can reap the rewards of green electricity. Here are the different ways we offer to pay for your installation.
CAPEX
The simplest form of investing in solar, this involves a straightforward cash purchase and immediate access to the full financial benefits of the installation. You pay staged cash payments during the build phase for the system we install and commission. We provide ongoing operations and maintenance services under a service level agreement (SLA).
Standard hire purchase
This is a credit agreement into which you enter with a lender. You make a deposit payment and then fixed monthly payments over a pre-determined period. You do not own the system until the final payment is made, at which point you take over ownership. You access the full benefits of the system from day one.
Seasonal hire purchase
The same as a standard hire purchase agreement, but one that has repayments tracking the performance of your installation over the year. Monthly repayment amounts match the benefits achieved from solar, offsetting your bill and generating revenue through the sale of surplus power – creating a neutral cash position until the system is fully repaid. Operations and maintenance costs are also factored in.
Power purchase agreement
This is a credit agreement into which you enter with a lender. You make a deposit payment and then fixed monthly payments over a pre-determined period. You do not own the system until the final payment is made, at which point you take over ownership. You access the full benefits of the system from day one.
