The Full Story
With soaring energy costs, leasing is a more attractive option than ever before. We have partnered with leading Leasing provider and lenders, who are fully authorised by the Financial Conduct Authority.
The easiest way to show the benefits is with a simple example (we know every school is different). This is based on anticipated prices of gas and electricity being £0.15 / kWh and £0.50 / kWh respectively by October 2022.
A school leases 2 Classroom AC installations on a 5 year lease at a net rate of £34.54 / month each.
Based on the average energy usage of a range of schools we have studied across the UK, we anticipate an energy usage of around 10000kWh per classroom. Following guidelines from the Carbon Trust Energy Efficiency report on Schools, 15% of this can been apportioned to water heating, giving a usage of 8500 kWh for heating.
This works out as £0.15 x 8500 = £1275 per year, or £106.25 per month. This compares to £34.54 per month for the lease. Of course, we have to add the energy used to power the AC, but the units are extremely efficient: We anticipate this to be in the region of 1000 kwh, which equates to £500 / year, or £41.60 / month
On this basis alone, the school is £106.25 – (34.54 + £41.60) = £30.11 per month better off.
That may not seem much, but that’s every classroom, every month. For 6 classrooms, that’s £2167.92 per year.
After 5 years, the lease is paid off and the equipment becomes the property of the school, and still has 5 years of its warranty remaining. At this point the school is a further £2486.88 per year better off… or £4654.80 a year, every year... and that's just 6 classrooms.
We know all schools are different, and there are many variables, but the principle here is sound. With a lease there is a percentage payment to the lender (in this case about 22% over the 5 years) but the school pays no money up front and is actually financially better off at every single point from day one, effectively being paid to install Air Conditioning.
Let’s Work Together
Get in touch and we'll prepare a lease illustration for your school. Leases are available for small or large projects.