FINANCE
result in savings of between R1 500 and R4 000 a month , with half of that reduction coming from the solar system , and half from better energy consumption as a result of being able to see how energy is being consumed .
NEDBANK
Nedbank works through a recognised panel of pre-vetted professionals for the supply and installation of solar systems . It says clients have to use a Nedbankapproved solar supplier . “ We have all the necessary legal agreements and processes in place to ensure that they are protected and assured of the highest quality and service standards .”
The bank has partnered with Hohm Energy , which will assist clients with expert guidance ; manage the entire process of assessing their energy requirements ; find a solution that fits their needs and budget ; provide an engineering proposal ; oversee the installation ; and provide ongoing support and maintenance after the solar energy solution has been installed .
Once a client has obtained a quote from Hohm Energy they can apply for finance over a period of up to 72 months at a competitive interest rate with MFC , a division of Nedbank .
Customers can also finance solar systems through their home loans by means of a readvance or further loan on the mortgage bond .
ABSA
Nondumiso Ncapai , managing executive at Absa Home Loans , says the bank has a range of financing options for solar systems , and advises homeowners to take out insurance options for big-ticket permanent fixtures such as this . If homeowners live in an estate or sectional title unit they would need to contact the homeowners ’ association or body corporate to include the solar system solution as part of the existing building insurance .
In order to ensure that a solar installation is adequately covered under such a policy , customers will need to make sure that the
138 OCT 2022 SA Real Estate Investor Magazine