For anyone considering this I'd seriously recommend reading all the fine print. I looked into one recently and at no stage do you ever own the equipment. At the end of the 7 year lease (10 and 15 year leases were also options on the one I investigated), you have the option to enter into another lease, buy the equipment off them, or pay to have the system removed. The savings as you mention are marginal, and it ties you down to the one energy provider on a long term contract removing your ability to shop around for a better electricity deal down the track.
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Originally Posted by Bassnut
For the 1st time in years, I got sucked into a slick cold call sales pitch. Offering a "free" solar panel system, I signed up and blow me down it seems to be just that. The up front cost was covered by gov rebate and the rest by a 7 year lease, which payments were (just) less than the savings on the power bill. I effectively paid nothing. After 7 yrs its all upside. I dont like being locked into a 7 yr agreement (gets ugly if I move). It works for me because I work from home, it wouldnt if the house was empty during the day.
Im keen to see what is possible when battery storage becomes financially viable, I bet a smart co will offer that "free" too on a lease arrangement.
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