Faced with increased electricity tariffs and the reality that load shedding is an issue that is not going to be solved overnight, many South African consumers are considering the switch to solar energy supply. Even though the capital outlay may be perceived as high, there are real savings in the long run.
According to Bruno Ching’andu, Head of Customer Strategy at Nedbank Home Loans, “we realised that due to Covid-19 national lockdown, consumers are spending more time at home. This has resulted in an increase in electricity use. When you combine this with the increase in the cost of electricity, it means higher electricity bills. As money experts who do good, we want to help consumers save money by leveraging their home loan to install solar panels.”
“By doing so consumers can reduce their monthly electricity bill. With the current heavy demand for electricity in South Africa, photovoltaic (PV) electricity generation (solar panel electricity) is the go-to alternative to secure a dependable supply. Therefore, we have partnered with the South African Photovoltaic Industry Association (SAPVIA), and through their PV GreenCard accreditation we can ensure that consumers install the highest-quality product with the best workmanship,” said Ching’andu
The SAPVIA PV GreenCard programme is a quality assurance, industry-led, standard, and training programme for solar PV installers.
The PV GreenCard Programme focuses on skills development and training to build installer capacity and works to improve standards development and compliance in line with international best practice. The PV GreenCard accreditation and recommended database offers protection and confidence to affected stakeholders such as solar PV installation companies, solar PV system owners, investors, and banks.
SAPVIA COO Niveshen Govender adds that “As an organisation we are excited that Nedbank recognizes the value of quality solar installations by partnering with the PV GreenCard. We are confident that this partnership will help support the end customer to gain access to suitably qualified Solar PV installers.”
Solar is considered the most feasible and available optional energy supply source as it is sustainable, indefinitely renewable, and environmentally friendly and most modules last for 25 years and require very little maintenance.
The most appealing benefit for cash strapped South Africans is the cost-saving. Nedbank clients are able to install solar panels by leveraging their home loans. The home loan installment increase could still be less than an average monthly electricity bill, especially in a low-interest environment. By switching to solar, consumers are shielded from future electricity tariff increases.