Choosing to go solar in Singapore is a significant step towards reducing your energy bills and minimizing your carbon footprint. However, deciding between a subscription-based model or buying solar panels can be challenging. This blog focuses on the options available through Sunollo, helping you make an informed decision that aligns with your financial and environmental goals.
Subscription-Based Solar Panels with Sunollo
A subscription-based model allows you to benefit from solar energy without the high upfront costs of purchasing. With Sunollo’s subscription options, you pay a fixed monthly fee to use the solar system, and in return, you enjoy reduced electricity bills.
Pros of a Subscription-Based Model with Sunollo
- Minimal Upfront Costs: A subscription usually requires little to no initial investment, covering design, installation, and interconnection.
- Maintenance Included: Sunollo’s subscription plans typically include comprehensive maintenance and repair services throughout the term.
- Immediate Savings: Start saving on your electricity bills right away with fixed monthly payments.
Cons of a Subscription-Based Model with Sunollo
- Long-Term Contracts: A subscription agreement may complicate property transactions, as the new owner might need to take over the subscription.
- Lower Lifetime Savings: A subscription might result in lower overall savings compared to purchasing the system outright.
Buying Solar Panels with Sunollo
Buying solar panels can be a more cost-effective option in the long run. With Sunollo’s competitive pricing and financing options, purchasing solar panels is an attractive choice for many homeowners in Singapore.
Pros of Buying with Sunollo
- Significant Savings: Purchasing solar panels often results in greater long-term savings. With the cost of Sunollo’s systems ranging from SGD 1.2 to SGD 1.8 per watt, the payback period in Singapore is around 4 years.
- Increased Property Value: Owned solar panels can enhance the value of your property.
- Stable Energy Costs: Owning your solar system helps stabilize your energy costs against rising electricity prices.
Cons of Buying with Sunollo
- High Upfront Cost: Purchasing requires a significant initial investment. However, financing options are available to make this more manageable.
- Maintenance Responsibility: You are responsible for any maintenance or repair costs beyond warranty coverage.
- Financing Costs: Loans for solar purchases may involve down payments and interest rates, impacting your overall savings.
Cost Comparison: Subscription vs. Buy with Sunollo
Subscription-Based Solar Panels vs. Electricity Bills
In Singapore, the average electricity cost is SGD 0.33 per kWh, and the net energy export rate is SGD 0.23 per kWh. Subscribing to solar panels through Sunollo offers a predictable cost structure compared to fluctuating electricity rates. If your subscription has a lower escalator rate than the rise in electricity prices, you could save more over time.
Buying Solar Panels: Cost Analysis
For example, if you invest in Sunollo’s solar panels at an average cost of SGD 1.5 per watt for a 10 kW system, the total cost would be SGD 15,000. With the average payback period of around 4 years, you would start seeing savings on your electricity bills relatively quickly.
Assuming your solar system produces 12,000 kWh annually, and you save SGD 4,000 each year on your electricity bill, you could recoup your investment in approximately 4 years. This payback period is highly favorable compared to a subscription and can lead to substantial savings over the system’s lifespan.
Financing Options with Sunollo
Sunollo offers flexible financing options to make purchasing solar panels more accessible. Monthly payments will depend on factors such as loan amount, interest rates, and the length of the loan term. Financing allows you to own your solar panels outright, maximizing long-term savings.
Making the Decision: Subscription or Buy with Sunollo?
Deciding whether to subscribe or buy your solar panels with Sunollo depends on your personal and financial circumstances. Here are some scenarios to help you choose:
A Subscription Might Be Better If:
- You prefer to avoid large upfront costs.
- You want maintenance and repairs included in your plan.
- You are looking for an option with minimal initial investment.
Buying Might Be Better If:
- You are ready for the initial investment and want significant long-term savings.
- You wish to increase your property value.
- You are looking for stability in your energy costs.
Going Solar with Sunollo
Sunollo offers tailored solutions for both subscription-based models and purchasing solar panels in Singapore. Whether you choose to subscribe or buy, Sunollo provides high-quality systems and exceptional customer service to meet your needs.
- Subscription Options: Explore Sunollo’s subscription plans with no upfront costs and guaranteed maintenance, providing immediate savings on your electricity bills.
- Purchasing Options: Benefit from competitive pricing, flexible financing, and comprehensive protection when you purchase solar panels from Sunollo.
Summary and Next Steps
Choosing between a subscription-based model and buying solar panels with Sunollo is a crucial decision that will impact your savings and overall experience. Both options offer significant benefits, and the right choice will depend on your financial situation and long-term goals.
To explore your options and see how much you can save, use Sunollo’s interactive solar benefits calculator or contact a Sunollo representative today.
Contact Us: Discover how Sunollo can help you transition to clean, cost-effective energy for your home!
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