Plico’s payment model is different to what most other solar + battery providers offer - there’s no deposit or big upfront costs, and everything is included in weekly instalments paid over a number of years. But is the Plico model a lease or loan arrangement? Are there hidden costs? Do you own your system at the end of your contract?
We know it’s a different way of doing things, and something you don’t often see in the solar industry. That’s why we’ve put together a quick guide to help answer any questions you might have about the Plico model and our unique offering. Let’s dive in!
Is the weekly payment a lease or a loan?
The Plico weekly payment is more akin to a loan than a lease. But it’s not the kind of loan you may be used to. We like to think of it a loan with a difference.
Unlike most regular loans, you’re not locked into anything. Want to pay your solar + battery (or solar/battery) system off sooner? No problem. You won’t be penalised with our early buyout options.
Unlike a lease arrangement, you own your system outright at the end of your contract with us – or sooner if you decide to payout early. We retain ownership while you make your weekly payments and unlike many other solar companies, our relationship with you doesn’t end when we’ve completed your installation. In fact, it’s just the beginning.
You receive ongoing support for the time you are with Plico. We will monitor your system to ensure it’s performing optimally. Now that’s peace of mind!
Your Plico payment is like the best kind of loan (with an early buyout option) with a few bonus items. When you join Plico, you also join the Plico Virtual Power Plant (VPP). The VPP is live in WA and was the first of its kind in the state, providing important services to the grid network while generating revenue for participants. You also receive ongoing support, so you can be confident in your system's performance. You become part of a community making positive change.
Sound like a loan with benefits? Read on to find out more about what we offer.
What are the benefits of Plico’s payment model?
When you join Plico, you can get up and running with your solar + battery or battery only solution with minimal fuss and expense. That means you’ll start making your weekly instalments and enjoy the cost savings on your power bill right away. The cost savings of having a cutting-edge Plico solar + battery solution in your home speak for themselves (see how much you could save with our Savings Calculator), so here are some more reasons to choose Plico:
When you join Plico, you get more than a clean energy system - you become part of a community. Plico members are also part of DCEP, our not-for-profit association creating positive change for Plico members and the wider community. DCEP manage the Plico Community Fund, which is where Plico membership fees are invested. The fund supports local environmental and community projects. If you’re looking for a comparison, cast your mind to some well-known insurance companies who offer a membership that benefits both their members and the wider community. Called social enterprise, this model ensures that businesses are guided by more than just profits.
That’s because we think everyone should benefit from our success.
Virtual Power Plant rewards
We’re on a mission to build the largest Virtual Power Plant (VPP) in Australia – and we’re getting closer every day! A VPP is simply a collection of distributed energy systems (Plico’s community of solar + battery systems) that act as one giant battery and can be controlled remotely to provide services to the electrical grid. And the great thing is that a VPP allows households to participate in the energy market and receive payments for the services they provide. Plico has provided financial rewards worth hundreds to its WA members, simply for being part of our VPP.
It’s another way Plico members get more value from their solar + battery, solar or battery only system.
Our payment model means we have an ongoing relationship with you after your system is installed. But our role is much more than a loan provider. We are committed to ensuring your system works optimally so that you can reap the savings benefits and your system can contribute to our VPP. We will monitor your system remotely and resolve any issues that may arise.
Our support team is always just a phone call away to help you make the most of your clean energy solution.
Protection from blackouts
Included with all Plico solar + battery and battery only systems is blackout protection. This allows you to keep your food cold, phone charged and lights switched on, even when the grid is down. Unlike most solar systems that need to switch off during a blackout for safety reasons, Plico systems can power a dedicated backup circuit independently of the grid. The circuit can be powered by your solar panels during the day (full Plico solar + battery systems) or from your battery overnight. With our cutting-edge blackout protection, you’ll be the envy (or hero) of all your neighbours!
Why does Plico offer weekly instalments?
When our founders first put their heads together to create a new, affordable clean energy option for Australians, they realised that a weekly payment model would make solar + battery accessible to more people, as soon as possible.
Plico members generate, store and use solar energy 24/7, save on power bills and enjoy blackout protection, all for just one low weekly instalment. Plus, when you join Plico, you also become part of our cutting-edge VPP which brings even more financial benefits. Anyone with an existing solar system can also add a Plico battery for a low weekly instalment. Even solar only customers can access the benefits of a weekly payment model to make their solar dreams come true.
We support our members to make the most of their solar + battery (or solar/battery) system and take control of their energy by providing ongoing support. Many of our members tell us one of their favourite parts of being with Plico is the app, which allows them to keep an eye on their energy use and save even more on their power bills.
Imagine a future with no more bill shock. With Plico, all you’ll pay is your low weekly instalment knowing that the savings on your power bill will be significant. Our payment options help you manage the family budget and the best part is you use your bill savings to pay off your system and the rest is money in your pocket!
And because we are committed to supporting our community, you also have access to a Hardship Fund, which can help cover your weekly instalments should your find yourself in financial hardship.
To recap, our weekly payment gives members ongoing access to the benefits we mentioned above:
- A cutting-edge solar + battery (or solar/battery) system
- Blackout protection
- Ongoing support
- VPP rewards for supporting WA’s energy grid
- Positive change for the planet and the community
Plico’s payment model may be different to most other options out there, but we believe it’s the best, most supportive framework for our members. Our unique offering includes solar + battery, ongoing support, and no big upfront cost - all for a low weekly instalment. If you’d like to learn more about finding the system that is right for you, talk to one of our switched-on team by calling 1300 175 426 or fill in the form below.