Alibaba Cloud Savings Plan is a discount plan that allows you to receive pay-as-you-go billing discounts in exchange for a commitment to use a consistent amount (measured in USD/hour) of resources over a one-year or three-year period. After you purchase an Alibaba Cloud Savings Plan, the hourly bills of your pay-as-you-go instances are covered up to the amount of the plan.
When you use an Alibaba Cloud Savings Plan, your pay-as-you-go instances of each instance type have a regular pay-as-you-go unit price and a savings plan unit price. For more information, see the Discount Details page. Resource usage within your commitment is billed based on the savings plan unit price. Resource usage beyond your commitment is billed at the regular pay-as-you-go unit price.
For example, assume that Alex has several ecs.g6.xlarge instances in the China (Shanghai) region and can use a three-year general-purpose savings plan to obtain the following discounts.
Assume that the regular pay-as-you-go unit price of ecs.g6.xlarge instances is USD 0.155/instance/hour and a three-year savings plan provides savings of 54.5% off the pay-as-you-go price for the ecs.g6 instance family in the China (Shanghai) region. The savings plan unit price of the ecs.g6.xlarge instances is calculated based on the following formula: USD 0.155/instance/hour × 0.455 = USD 0.0705/instance/hour.
If Alex makes a commitment of USD 0.31/hour, the savings plan can be applied to offset hourly bills of 4.397 pay-as-you-go ecs.g6.xlarge instances, which is calculated based on the following formula: 0.31/0.0705 = 4.397.
The Alibaba Cloud Savings Plan are available in two types: general-purpose and ECS compute. The following table compares the two types of savings plans. ECS compute savings plans are less flexible but offer higher discounts than general-purpose savings plans.
Elastic Container Instance (ECI): instance computing resources (vCPUs and memory)
Choose between general-purpose (high flexibility) and
ECS compute (offers higher billing discounts but requires regions and instance families to be selected.)
Specify an hourly commitment. If you have instances running, the system recommends a suitable hourly commitment based on your past consumption trends.
Select a payment option (All Upfront/Partial Upfront/No Upfront) and payment duration (one year/three years)
Savings plans are automatically applied to offset the bills of pay-as-you-go instances in real-time without any further operations.
Savings plans can be monitored and managed in real-time in the Alibaba Cloud Management Console.
Alibaba Cloud Savings Plans offer pay-as-you-go billing discounts and help achieve flexibility, cost-effectiveness, and efficiency improvement.
Savings plans are a new pricing model that can reduce the costs of pay-as-you-go instances by up to 76%.
This pricing model offers a lower price for pay-as-you-go ECS and ECI instances. Savings plans do not have any limits on the regions, instance families, sizes, or operating systems of instances. Savings plans make it simple and efficient for you to deploy your business while further reducing usage costs.
Check out how much you can save on this plan.
If you are familiar with Alibaba Cloud Elastic Compute Service (ECS), or similar cloud computing products, you may already be familiar with both subscription and pay-as-you-go billing methods. Essentially, for each of the two billing methods, you get to choose to enjoy either more flexibility or lower costs, depending on your needs. And for a while, there were not many convincing alternatives that could provide the best from both worlds. That is, until now! Alibaba Cloud has launched a new billing method, Savings Plans, which is an innovation to the existing billing methods.
At the Apsara Conference 2020, Alibaba Cloud launched new savings plans that help customers optimize their computing costs. Customers can purchase cloud resources in advance and enjoy pay-as-you-go services to improve flexibility and efficiency, as well as reducing costs. This article will introduce the newly launched savings plans in detail.
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