Why choose Anglo Scottish as your solar panel finance provider?
As solar panel finance providers for businesses in a range of specialised sectors, Anglo Scottish is best-placed to support your business’s sustainability drive, whether you’re looking to invest in a small solar cluster or invest in a large-scale solar farm.
Our solar panel finance services provide:
- Low APR%.
- Manual underwriting.
- Rapid approval times.
- Access to a broad range of funding partners.
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Call us on 0191 410 4776Improve business sustainability with solar panel asset finance
At Anglo Scottish, we offer a range of solar panel asset finance solutions to help your business become more sustainable and reduce your spend on energy bills.
Our options include both solar panel hire purchase and solar panel leasing, so you can choose whether long-term ownership is a priority. This distinction may help your business gradually increase your overall solar energy adoption over time.
In the UK, ‘solar PV’ or ‘solar photovoltaic’ are terms that are often used interchangeably. This refers to a form of technology that is used by solar panels to transform sunlight into electricity.
However, the term solar panels can also refer to thermal solar panels, which generate heat directly via means of a different technology. Both can benefit your business.
Solar panel leasing
Solar panel leasing – sometimes referred to as solar PV leasing in the UK – refers to the process of gaining access to solar panels without actually assuming ownership of the panels themselves.
Under this process, businesses pay a monthly fee for the ability to use and benefit from the solar panels until the entire value of the panels has been paid off. This is usually 25 to 30 years, over the lifespan of the solar panel itself.
Once the panels have been paid for, ownership of the panels will return to the funder.
Solar panel hire purchase
Under a solar panel hire purchase agreement – or solar PV hire purchase plan –many of the same points above apply, although your business will become the out-and-out owner of the solar panel(s) upon completion of the agreed-upon payment plan.
Assuming ownership of solar panels via a hire purchase agreement could carry a number of tax benefits that are beneficial for your business’ bottom line. Should you wish to purchase solar panels outright, our experts will be on hand to discuss this with you.
How solar panel hire purchase works
Solar panel hire purchase works much like the solar panel leasing process mentioned above, except that your business will assume ownership of the asset upon completion of the repayment plan.
Ownership provides less flexibility than a lease, but could result in overall cost savings after the payback period is complete. Once the panels’ cost has been recouped, the electricity generated is essentially free for your business.
Solar panel finance FAQs
For more information on wider renewable finance FAQs, head over to our dedicated renewables FAQs page.
Given that solar panels are a tangible asset with long-term value for your business, we would typically recommend one of our dedicated solar panel asset finance agreements rather than a form of commercial finance like a traditional loan.
However, if your solar panel purchase forms part of a wider sustainability drive, opting for a less specific method of funding could partially fund the purchase of solar PV technology or solar panels, while also supporting your business to purchase other sustainable assets.
Overall, the best type of loan or finance for your business will vary depending on your business’ specific liquidity and long-term goals – so contact us to find out more!
While grants are not currently available for businesses to install solar panels, small businesses may be eligible to receive payments for excess energy exported to the grid under the Smart Export Guarantee (SEG).
Future grants for solar or other forms of green energy may be announced, details of which will be made available on GOV.UK.
Contact us
Still unsure about which option of solar panel finance or solar PV finance is right for you and your business?
Contact us today to find out more – our dedicated renewable finance team is on hand to support your enquiry, provide more information or simply begin a no-obligation chat.
Get in touch via email at enquiries@angloscottishfinance.co.uk
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