Financing Your Solar Investment: Just As Easy as Buying A Car

As South Africans, we’ve grown accustomed to the challenges of loadshedding, and it seems like it’s here to stay for the foreseeable future.

While there’s no quick fix for the country’s energy woes, there’s a solution that’s as easy to grasp as buying your own car – financing your solar PV investment.

This innovative approach is changing the game, allowing you to access the benefits of solar power even if you don’t have the upfront capital. AWPower, an approved residential solar energy solutions provider for MFC, a division of Nedbank, can make it happen, offering you greater value and a faster way to go solar.

So, what sets financing your solar PV system apart from the traditional car purchase?

It’s not just about the upfront cost; it’s about the long-term investment value and the savings you’ll enjoy by generating your own electricity. Unlike a typical new car with a warranty that lasts around 3 years, a solar PV system boasts impressive longevity.

You can expect your inverter and batteries to perform well for 5 to 10 years and your PV modules to continue generating power for 15 to 30 years.

Here’s an example

Consider a popular 5kW Deye Hybrid Inverter paired with a 5kWh Li-Ion battery and 3.3kWp of solar PV, totalling approximately R120 000, including VAT. This system could yield monthly electricity savings of around R1,234 in the first year — growing each year as the electricity tariff increases.

With an MFC installment plan spread over 72 months, your monthly payment would be approximately R2,430. When you deduct your solar-generated electricity savings, your actual monthly cash outflow from the household budget equals about R1,196 in the first year, and it will increase.

It’s all in the numbers

When you look at the numbers this way, you might find it makes more sense to extend the life of your family car for a few more years and rather invest the monthly savings into a solar PV system that will last well over a decade.

Not only will you enjoy significant energy savings, but you’ll also gain energy security – a wise choice in the context of South Africa’s energy landscape.

Here’s a quick overview of popular energy solutions, from battery backup to full solar PV systems, showing the total cost, savings, MFC installment, and actual cashflow:

As the energy landscape evolves, financing your solar PV investment becomes a game-changer.

It’s a forward-thinking choice that not only brings immediate savings but also secures your energy future. Just as you rely on your car for transportation, you can now depend on solar power to keep your lights on, your appliances running, your business continues, and your energy costs in check.

To learn the difference in pricing between a grid backup system and going off-grid, click here.

To read our step by step guide to getting started with solar, click here.

To read how AWPower was selected as a Nedbank Residential Solar and Energy Solutions Provider, click here.

Ready to take the first step?

Follow these easy steps to make your investment in energy security:

  1. Tell us about your requirements.
  2. AWPower design engineers will analyse your needs and present you with an Initial Cost Estimate within about 5 working days.
  3. With your Initial Cost Estimate in hand, you can check what the monthly instalment will be on your MFC loan.
  4. And apply online for financing your own system.
  5. With your MFC approval or cash in hand, AWPower design engineers will conduct a site visit and compile an Engineering Proposal – you are only days away from installation.

Learn more here

Want to have a browse through our Standard Solution documents? View them here:

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