Energy Lite is the leading virtual solar development company in Singapore. We provide zero upfront solar to commercial and industrial businesses while reducing their electricity bill by up to 20%. Energy Lite has been working on tens of buildings across the island and is planning to contribute 100 MW in the next 5 years.
Using zero upfront solar is a new way to install solar panels on your building’s roof. So how does zero upfront solar work? Is it really free or you still have to pay something?
Zero-upfront solar history
The first zero-upfront solar was installed in the US around the early 2000s. WalMart, operator of chains of hypermarkets in the US, is one of the earliest adopters of this system. Soon after, the innovative model spread around the world and is now starting to be adopted in Southeast Asia including Singapore.
What does it mean when we say “zero upfront solar”?
When Energy Lite talks about zero upfront solar we are referring to one of the two solar financing options:
- Solar Power Purchase Agreement (PPA) or
- Rooftop Leasing
Both contracts require you to sign a long-term contract that allows Energy Lite to install solar panels at no cost. Energy Lite and its financing partners will still own the system throughout the long-term contract and we will be responsible for maintenance and installation costs. After the contract period, the solar panel ownership will be transferred to you.
In Solar PPA, you enter into a contract with Energy Lite and we will handle the design, permitting, and installation of the solar panel system. In return, you pay Energy Lite for the energy the solar panels produce at a price lower than the retailer/SP rate.
In rooftop leasing, you enter into a leasing agreement with Energy Lite and we will handle the design, permitting, and installation of the solar panel system. Energy Lite pays a fixed rental per sqm per month and we will sell all of the electricity to the power grid.
Is zero upfront solar a scam?
No, zero upfront solar offerings are not a scam. Once the solar panel is installed, the electricity will be given to you or a roof lease will be paid to you on a monthly basis.
The solar panels will also be yours after the end of the contract period. Contract period may last from 15 years to 25 years based on your preferred term.
With zero upfront solar, you will have two electricity bills – one from us and from your current retailer/SP Services. Significant savings can be observed especially if your current electricity rate is high and you consume the majority of the electricity production from solar panels.
Energy Lite Zero Upfront Solar
Energy Lite’s zero upfront solution is applicable to commercial and industrial customers that have a long-term lease to their land and/or building. You can reach out to us here or you can send us a WhatsApp at +65 9766 5694.