Making solar power accessible
OVER the years, Next Energy has identified the high capital expenditure of solar power as the biggest barrier to adopting this form of renewable energy despite its many benefits.
For instance, most consumers answer yes to the below questions:
> Do you want to generate your own electricity and save on your TNB bills? Yes.
> Do you want to save planet earth by adopting solar power? Yes.
> Do you want to make returns of 20% to 25% per annum over 25 years and more? Yes.
BNPL and zero capex solution
But with the upfront cost of purchasing a solar system ranging from RM20,000 to RM50,000 for residential systems, most would shy away from taking the plunge.
While there are other solar companies that provide instalment plans that are charged to your credit card, most people would not have the high credit limit necessary to invest in solar power.
Therefore, the good folks at Next Energy took the initiative to go the extra mile and provide a Buy Now Pay Later (BNPL) solar plan directly from the company, where you can enjoy interest as low as 0% for up to 60 months.
“After learning about our BNPL solar plan, some have shared that it’s a big risk for Next Energy should anyone default.
“We say, well, we know where you live,” co-founder and managing director Steven Chiew laughs.
He says that jokes aside, the company will conduct its own credit checks of the customer but are confident that they will have no issues with collection.
After all, once the solar photovoltaic (PV) system is installed, you will immediately save on your electricity bills, which increases your cash flow to keep up with the monthly instalments.
Meanwhile, Next Energy also provides zero capex solutions for industrial customers.
This is done through a Power Purchase Agreement (PPA), where the solar PV system is installed for free, and customers only need to pay for the electricity generated by the system. Immediate savings are achieved as the PPA’S electricity tariff will be cheaper than TNB’S electricity tariff.
Trusted solar power service provider
“We offer one of the most competitive PPA rates, but that’s not what we’re all about. In a time when many want things cheap, we still focus on quality as the system is meant to last for 25 years and more,” says Chiew.
Indeed, this is also reflected in Next Energy’s mission to provide customers with top quality solar products and services at affordable prices – a mission that was born out of passion for renewables by Chiew and co-founder and technical director Lim Chze Hong.
They have also ensured that every team member emulates this passion and understands that with every sale and project, they will be leaving behind a greener planet.
It is this passion that has made them one of the most trusted solar PV installers in the country and also a testament to their recent Special Mention win under the Rising Star category in the Star Outstanding Business Awards.