4 min read

Sunsave Plus: a flexible way to go solar

Last updated on 8 April 2024

Discover how you can make a full or partial early repayment to shortern the term of your solar subscription.

Photo of author Charlie Clissitt

Written byCharlie Clissitt

A cartoon yellow circular '£1' coin and a cartoon yellow calendar with concentric white circles around them, a black solar panel to the right of them, turquoise background

We’ve created Sunsave Plus so that you can switch to solar energy without needing to have cash in the bank. Solar has the power to significantly reduce household electricity bills, and we believe this should be accessible to everyone. 

By spreading the cost with fixed monthly payments over a long period of time, we’ve ensured that Sunsave Plus is affordable for many households who otherwise aren’t able to get solar panels. 

However, we also know that your circumstances can change. And that’s why we’ve built Sunsave Plus with absolute flexibility in mind, so that it never ties you down.

Sunsave Plus puts you in total control

Even though Sunsave Plus starts as a 20-year subscription, you are free to make a full repayment to end your contract, or a partial early repayment to reduce the term of your contract whenever you choose. This process is simple and there are no early repayment fees or penalties

To make a full repayment you only pay the outstanding credit amount, you do not need to repay any future interest or monitoring and maintenance fees. A partial early repayment will shorten the term of your subscription, but your fixed monthly fee would remain the same and you will not pay any future interest on the amount you have repaid.

Why make an early repayment?

It’s impossible to predict the future, but we know of several reasons why you may want to make an early repayment on your subscription in future, such as a life event which means you come into money, wanting to reduce or remove future interest charges, or to shorten the contract. Sunsave Plus gives you total flexibility to do this free of charge.

You may also decide to move home during your subscription period. If this happens, you can either make a full early repayment or transfer the subscription to the new owner. To learn about the process of moving home during a Sunsave Plus subscription, check out our guide.

How early repayment works

Your fixed monthly Sunsave Plus payment covers repayment of the credit amount (which is the cost of the system and installation), interest on the credit amount, and a fixed monitoring and maintenance fee. 

When you make an early repayment, you reduce the credit amount outstanding. This lowers your future interest costs and shortens the term of your contract with Sunsave.

There are no charges whatsoever to make an early repayment and you can make as many as you want.

Partial early repayment

A partial early repayment is where you pay off some but not all of your outstanding credit balance. By making a partial repayment, your fixed monthly fees would stay the same but the term of your contract with Sunsave will be reduced. 

Any partial repayment you make would be deducted from the outstanding credit amount. This means you’d accrue interest on a smaller remaining balance, and pay less overall.

Full early repayment

If you want to end your Sunsave Plus contract, you can make a full early repayment by paying off the entire remaining credit balance. This means you will not pay any future interest or monitoring & maintenance fees that you would have incurred had your contract continued.

For example, if you were paying £69 per month then the total amount repayable on your subscription at the end of year 10 would be £8,280 (i.e. including interest and monitoring & maintenance). However, if you wanted to make a full early repayment, you’d just pay the remaining credit amount, which would be £5,683. Check out the table below to see examples throughout the 20-year period. 

Subscription timeline Monthly cost Total amount outstanding Full early repayment amount
Beginning £69 £16,561 £9,839
End of Year 1 £69 £15,732 £9,478
End of Year 5 £69 £12,420 £7,923
End of Year 10 £69 £8,280 £5,683
End of Year 15 £69 £4,140 £3,064
End of Year 20 £0 £0 £0

If you already have a quote for Sunsave Plus and you want to work out what a full early repayment would cost you at any point in your subscription term, take a look at the chart below. It shows you what percentage of your initial credit amount would remain after each year of your contract.

How to make an early repayment

The early repayment process for Sunsave Plus is very simple.

1) contact us either by phone or email to let us know how much of your credit balance you would like to pay off early and when you would like to make the payment.

2) we’ll provide you with an exact early repayment quote within three working days (daily interest accrual calculations can be a little fiddly!). 

3) you’ll then need to confirm your acceptance of the quote at least three working days before the date you want to make the payment. 

4) we’ll process the payment via direct debit on or shortly after the date you have nominated. 

As previously mentioned, there are no penalties or fees for early repayment.

Early repayment and the Sunsave Guarantee

If you make an early repayment then the term of your Sunsave subscription will be reduced, and correspondingly so will your period of cover under the Sunsave Guarantee. This will decrease the overall amount that you pay for monitoring and maintenance.

If you contact us to make a partial repayment, we will let you know how this will reduce your monitoring and maintenance contract length. After full repayment you will no longer be covered by the Sunsave Guarantee. 

We are working on an option to extend the Sunsave Guarantee beyond the end of the Sunsave subscription, and hope to share more on this in the future. Stay tuned!

Early repayment with Sunsave Plus: FAQs

What does early repayment involve?

An early repayment on your Sunsave Plus subscription involves paying off some or all of your remaining credit amount. 

If you make a partial early repayment, this will reduce the amount of interest you owe for the remainder of your subscription and will shorten the term length, but the fixed monthly fee will remain the same. 

For example, if you were paying £90 per month and had eight years remaining, you could make a partial repayment that shortens the term length (e.g. to five years), but you’d still pay £90 per month for the remainder of the term.

Are there any penalties or fees for early repayment?

If you make an early repayment on your Sunsave Plus subscription, you will not be charged  any penalties or fees. The process is simple, quick, and designed to make Sunsave Plus as flexible as possible.

Do you lose the Sunsave Guarantee after full early repayment?

After a full early repayment, you will no longer be protected by the Sunsave Guarantee.

Similarly, if you shorten your term length with a partial early repayment, this will also decrease the amount of time you’re covered by the Sunsave Guarantee. 

Can you reduce your Sunsave Plus payments with an initial deposit?

Currently there is no option to pay an initial deposit. 

However, once your subscription has started, you are able to make any partial or full early repayment, which has similarities to paying a deposit.

Copyright © 2024 Sunsave

Sunsave Group Limited (company number: 13741813) and its affiliates, Sunsave UK Limited (company number: 13941186) and Sunsave Energy Limited (company number: 13952135), together trading as “Sunsave”, provide renewable energy systems and finance and are registered at 23 Ansdell Terrace, London, W8 5BY. Sunsave Energy Limited (FRN: 979494) is a lender authorised and regulated by the Financial Conduct Authority. Sunsave UK Limited (FRN: 977566) acts as a credit broker and can introduce you to a panel of lenders for the purpose of arranging finance. Sunsave UK Limited is an appointed representative of Product Partnerships Limited (FRN: 626349) which is authorised and regulated by the Financial Conduct Authority and registered at Suite D2 Josephs Well, Hanover Walk, Leeds, LS3 1AB.