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Q & A
Those who wish to ‘ wait it out ’, have the option of a ‘ rent-to-own ’ solution rather than purchasing the entire system outright . I stress that investing in solar power offers financial and lifestyle benefits that go beyond an uninterrupted power supply : 1 . Lowered operating costs . Solar systems offer a relatively low operating and maintenance cost once installed . Regular cleaning and occasional maintenance are typically all that ' s required to keep them running efficiently . Solar panels also have a lifespan of up to 25 years .
2 . Reduced electricity bills By generating electricity from solar panels , users can offset their reliance on grid electricity . This can result in significant savings on electricity bills - especially over the long-term .
3 . Claim tax rebates The 2023 Budget Speech announced that individuals can claim a rebate of 25 % of the cost of solar panels , up to a maximum of R15 000 .
4 . Increase the resale value of your home .
Depending on the existing value of your property , solar could increase the value of a property by up to 8 % and help it to sell up to 20 % faster .
Finally , for green-minded individuals , investing in solar power is an excellent way to reduce your carbon footprint and embrace sustainability .
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SA Real Estate Investor Magazine AUG / SEPT 2023 14