Backup power solutions have become an essential part of South Africans’ lives as they navigate the challenges of load-shedding. However, these systems have traditionally been expensive and only accessible to the wealthiest individuals in the country. Fortunately, recent technological advancements and high demand have led to significant price reductions, making backup power solutions more affordable and accessible to a wider range of South Africans.
One key factor contributing to the increased affordability is the availability of solar power financing plans. These financing options have significantly lowered the barrier to entry, allowing more South Africans to escape load-shedding without facing a substantial financial burden.
SolarAdvice, one of South Africa’s top backup energy solution providers, acknowledges that many South Africans do not have the funds to purchase a backup solar power kit outright. Solar financing offers a positive and viable route for those who cannot afford the upfront costs. SolarAdvice has an online solar power kit builder that helps buyers determine the right size inverter, battery bank, and number of solar panels based on their average monthly electricity bill. This system generates a quote that can be used in a finance application to one of SolarAdvice’s third-party financing partners. To be eligible for a finance deal, applicants must meet certain requirements, including a minimum gross salary of R40,000 per month.
Hohm Energy, another prominent energy solution provider, also offers various financing solutions to businesses in the commercial, industrial, and agricultural sectors. These options include cash purchase, financing similar to vehicle financing, rent-to-own, power purchase agreements (PPA), and blended finance options that may include grant applications in specific industries. Hohm Energy guides business owners through these options to ensure they find the best package for their needs.
Ellies COO Zeyn Agjee dispels the myth that solar and backup solutions are prohibitively expensive. Ellies offers modular hybrid systems starting from R35,000, comprising a 5kW inverter with battery backup. The modular design allows homeowners to start with a system that meets their immediate needs without breaking the bank. As their needs or budget grow, they can expand the system, thanks to its scalability and adaptability. Ellies provides a wide range of affordable and scalable products, allowing users to start small and gradually grow their system over time.
Overall, the availability of solar power financing plans and the decreasing prices of backup power solutions have made these systems more accessible to South Africans. With these financing options, more individuals and businesses can enjoy the benefits of backup power and escape the challenges of load-shedding without compromising their financial stability.