Saksiam TC Energy offers loans for installation of solar rooftop systems

[omnipresent]

Quote

each household could repay the loan with money saved from their electricity bills

See https://www.nationthailand.com/business/corporate/40023761

 

What do you guys think?

 

Has anyone tried it?

 

[Crossy]

IMHO borrowing, even at preferential rates, doesn't work to finance solar at this time.

 

The ROI of a professionally installed grid-tie system here would be in the order of 7 years assuming you can even get on the FIT system, the interest rate would need to be very (very) competitive.

 

[Muhendis]

39 minutes ago, Crossy said:

IMHO borrowing, even at preferential rates, doesn't work to finance solar at this time.

 

The ROI of a professionally installed grid-tie system here would be in the order of 7 years assuming you can even get on the FIT system, the interest rate would need to be very (very) competitive.

 

Agreed.

The little cynic inside me sees this as a money making scheme with scant regard for the end user benefits.

The aim is to tell the gullible how green they are being if taking out a loan. Oh and by the way you can incidentally get solar power but that's really a secondary issue.

I wouldn't touch it with a barge pole.

[omnipresent]

The attraction could be that no money needs to be paid upfront - the lender pays and you've got solar power installed without paying anything.

 

The interest rate would determine the size of regular repayments, and if "each household could repay the loan with money saved from their electricity bills" then it could be a good deal.

 

It would be interesting to hear the experiences of people who've gone ahead with this deal.

[Muhendis]

1 hour ago, omnipresent said:

The attraction could be that no money needs to be paid upfront - the lender pays and you've got solar power installed without paying anything.

 

The interest rate would determine the size of regular repayments, and if "each household could repay the loan with money saved from their electricity bills" then it could be a good deal.

 

It would be interesting to hear the experiences of people who've gone ahead with this deal.

The devil is in the details.

Term of loan.......unknown

Penalties for late or non payment

Interest rate charged

Comparison of return against repayments.