FINANCE
While solar provides the single , most cost-effective solution for homeowners , cost-effective doesn ’ t necessarily mean easily affordable . “ In the same way that we always advise prospective homeowners to have a budget in mind and finance in place , we also recommend that solar shoppers do a needs assessment , cost it and then research the options for financing their solar installation ,” says Andrea Tucker of MortgageMe .
With such a high demand for solar in South Africa , banks and finance companies are starting to offer more innovative and affordable solutions , including adding the cost of solar to a home loan on registration of the bond , extending home loans to cover the cost of installation , or financing solar as a rent to buy option or even on a subscription basis . compliant and adequate for the needs of the house and its occupants ,” she adds .
Leading residential solar energy company , Versofy SOLAR , connected around 900 homes in 2022 and demand is already rising significantly for 2023 . Co-founder and CEO Ross Mains-Sheard has advised hundreds of homeowners on their solar installations and has provided top advice to consider before you invest .
“ Given that Eskom ’ s problems are unlikely to be resolved any time soon , the installation of solar will almost certainly enhance the resale value of a property or attractiveness to potential renters - it is therefore seen as a good investment by finance houses ,” says Tucker . “ This is , of course , based on the installation being professional ,
81 APRIL / MAY 2023 SA Real Estate Investor Magazine