You can now replace your current heating system with an efficient biomass boiler without any initial outlay and no upfront cost.
Instead, fixed quarterly payments are made which, in the majority of cases will be less than the earnings and savings generated by the system for that period. This will allow you to earn a surplus income during the lease period, and substantially more thereafter.
Benefits of biomass leasing
How leasing works
BritishEco will install a brand new biomass boiler which will replace an existing system which may be inefficient and costly to run.
Instead of paying any upfront cost for this you are able to pay a fixed quarterly sum. The equipment can be leased between 3 – 5 years, depending on which finance scheme you choose; a 5 year lease would typically cost £7,780 per year. The lease payment for most customers will be less than the savings and income from the boiler therefore effectively self-financing. The payments for the lease are fully tax deductable.
Once the lease period has come to an end the system will be yours to keep meaning the revenue you receive on the system will increase substantially. You will to continue to receive the Renewable Heat Incentive payments for the remainder of the 20 year period, generating significant income for you.
Acquisition of the equipment will usually incur a nominal payment of approximately £50 – £100 with no further rental payments needed.
Who can apply?
Leasing is currently available to non-domestic customers although we anticipate it becoming available for domestic customers in the near future.
Examples of customers who can lease include:
- Commercial businesses – Companies, LLPs, Partnerships, Sole traders
- Farmers – Tenants, Owned farms
- Professional firms – Accountants, Solicitors etc
- Schools, Hospitals, Councils and other public sector bodies
- Housing Associations
- Landed Estates
This list is not exhaustive, if in doubt please contact us on 0845 257 0041
Advantages of leasing
- Lease payments will usually be covered by fuel savings and RHI payment meaning it is effectively self-financing
- Working capital is preserved by not having to fund an outright purchase
- Existing lines of credit are preserved by not needing to use or raise other forms of finance
- Customers can acquire what they need rather than what they can afford
- Costs are spread over the term of the lease (usually 5 years) rather than one upfront payment
- Quarterly rental payments are fixed for the term of the lease
- Lease payments are tax deductable
- Leases can be arranged quickly compared to other forms of finance