QUOTE(chiwawa10 @ Jun 26 2024, 09:04 AM)
From what I can see, there is no upfront payment. That itself is a 'saving' compared to buying the whole system upfront. I understand that they charge according to how much their system managed to offset from the bill (I could be wrong on this as I didn't call them up to get the details). The real saving is after the contract period. They have a minimum contract period of 5 years which is reasonable owing to the systems nowadays can last for much longer. After the contract period, it's like getting the system for free.
In a gist, its like:-
1. no upfront payment
2. getting the system for free (after contract period)
3. worry free during contract period
4. going green helps the environment
Its all about reaping the benefits after the contract period. (this is the only downside which I can see). Any thoughts or comments?
Just my opinion, as there is other options so it is better to put them side by side for comparison and then decide which one is more suitable. Different people may have different preference. Base on the advantages you listed, let's compare them side by side
1. upfront payment
Rental: No upfront payment
Buy Over: Upfront payment or EPP with credit card up to 5 years
2. System ownership
Rental: getting the system for free after contract (But this system not able to sell back to TnB and not support battery operation, all in all may need to upgrade or change to newer inverter with battery)
Ownership: system is yours but NEM finished in 10 years
3. warranty
Rental: worry free during contract period
Ownership: Maintenance by owner but how often need maintenance, standard warranty to cover normal functionality of panel and inverter for at least 10 years
4. Green
Rental and ownership both is green.
5. Return
Rental: Some savings in electricity bills immediately, since there is no cost, but return maybe much lower in 10 years contract period
Ownership: ROI starts after 5 or 6 years, depends on capacity and return is much higher compare to rental over 10 years contract period.
So all in all, it all boils down to item 1 and 5. How willing for you to put up a certain amount of money upfront or in advance for EPP years. And with that how much return you can enjoy down the 10 years contract period