How to afford solar power in 2024

No one is a fan of loadshedding, but what it has done for South Africa is help accelerate our transition to cleaner energies, especially solar power.

“With no end in sight to the electricity crisis in the country, many homeowners who want to install solar aren’t aware of the options that make getting solar an achievable goal in 2024,” says Ross Mains-Sheard, Co-Founder and CEO of Versofy SOLAR.

The size and capacity of your solar installation depends on the size of your house and your family, but even for the most modest home, the capital outlay for the panels, inverter and batteries can be substantial, and not everyone is able to buy a system outright.

“Versofy’s Solar-as-a-Service (SaaS) and rent-to-own packages put solar within the means of more households, and come with full service, insurance and maintenance plans, making the upkeep and technical support for your solar system hassle-free,” explains Mains-Sheard.

Solar-as-a-Service is Versofy’s pure solar power system rental product where there is no ownership of the system, and installation, monitoring and support are included in the monthly cost.

Versofy also offers a rent-to-own option. “This is similar to a cellphone contract where you get to keep the handset at the end of the contract period, but for solar power. You’re able to enjoy the benefits of monthly financial savings, and later owning the system after the contract is up. The key here is the flexibility and options you have – you can either upgrade and keep renting the system, cancel the contract or even transfer it to the new owners or tenants of your house if you’re moving,” he says.

For both Solar-as-a-Service and rent-to-buy options, the sign-up process is the same, and customers will undergo a credit check. “Before applying, there are a few things that people can do to ensure their applications go smoothly,” advises Mains-Sheard.

Ensure that you have a good credit score

Your credit score takes into account how often you apply for credit, including store cards, cell phone contracts, car financing and credit cards, and whether you’re making your repayments on time. Defaulting on monthly instalments may incur credit infringements against your name and disqualify you from accessing further credit. You can check your credit record at no cost through any registered credit bureau.

Calculate your affordability before considering solar power

Before applying, it’s a good idea to do your own affordability assessment. Solar system monthly repayments will closely mirror what you are already paying in electricity bills. By maintaining good power-saving habits, reducing your dependence on the grid and having backup battery power for use during the night and loadshedding, you could substantially reduce your electricity bill to balance out your solar payments.

Be aware of the application process

The Versofy SOLAR application process is quick, simple and hassle-free. The online pre-approval process takes place in just 30 seconds! After which Versofy is uniquely able to move fast on fulfilling your solar needs – the consultants will contact you to schedule an obligation free site-visit and put together a tailored solar proposal.

“Providing everything is in order with your pre-approval, we can schedule our team to visit your home the very next day. What’s more, is depending on the size of the system you have selected, installation can take a further two to three days. Once a customer has chosen Versofy SOLAR, we make it our mission to get them up and running as soon as possible,” says Mains-Sheard.

Versofy SOLAR works with only approved installers in addition to having its own dedicated customer support team to handle any queries and questions.

“With Solar-as-a-Service and rent-to-own, Versofy SOLAR are responsible for its maintenance, so you can be assured that we only supply the best panels, inverters and batteries that make up the entire collection, storage and generation of solar power for your home,” he adds.

Versofy SOLAR is revolutionising the way South Africans access solar energy, even amidst challenging economic conditions and ongoing power shortages.

With a simple application process, transparent requirements, and the assurance of quality service and maintenance, Versofy SOLAR is making the transition to solar a seamless, hassle-free experience.

“Embracing solar power in 2024 is not only within financial reach, it’s a step towards a more self-reliant future,” says Mains-Sheard.

More info about Versofy SOLAR

Versofy SOLAR is an all-in-one solar subscription company that works to make the transition from grid power to solar power simpler and with little to no upfront cost. Versofy’s focus on monitoring and managing solar installations ensures systems are always in good working order and fully optimised.

With affordable finance solutions and the offer of support over the lifetime of each solar system, Versofy SOLAR delivers peace of mind, a hedge against Eskom price increases, protection from load shedding and the promise of contributing to a sustainable tomorrow.

Versofy’s insurance product is underwritten by Mutual & Federal Risk Financing Limited, a licensed non-life insurer and authorised FSP.

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