Do you need finance for your Solar PV system?
The decrease in Solar Photovoltaic (PV) systems costs over the years can be attributed to the increase in demand and major technological advances. Other factors such as increased property value, municipal incentives, tax benefits and electricity price hikes have boosted demand for PV systems.
One of the major issues homeowners and businesses still encounter in installing a PV system is the high up-front cost. However, these upfront costs are no longer a barrier in the South African decentralised energy market. Innovative financial mechanisms exist that require no upfront capital from the customer.
If you are a homeowner, your solar PV system can be financed with an access bond. This is the cheapest way to finance your solar system.
More banks are offering incentives for businesses and small companies to install Solar Photovoltaic (solar PV) panels. Solar power finance entails making use of innovative financial mechanisms and incentives.
Commercial banks like Absa, Standard, FNB and Nedbank provide long-term loans (5 to 10 years) for Solar PV system installations, covering 70-100 percent of the cost.
All tax benefits and incentives apply. Solar panels are VAT deductible and qualifies for a 12b tax benefit, which can result in additional savings of 28% on cost.
ABSA power and energy funding
Nedbank Energy Finance
Standard Bank Solar PV Asset Solution
FNB ecoEnergy Loan
GreenFin – One of Southern Africa’s largest, independent Financial Service Providers focusing on renewable energy.
CT International – Choose the Financiers trusted by South Africa’s biggest consumer product finance organisations.