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5 good reasons to explore solar financing
Beat power outages and rising prices – and more perks of our solar financing.
We all know the frustrations of load-shedding and unplanned power failures. They can strike when you have food half-cooked on the stove, while you’re watching sport with your friends, when you’ve just put a load of washing in the machine, or when you have urgent work to finish on your desktop – they’re always an inconvenience, even if you’re just relaxing in front of the TV.
That’s why so many South Africans are considering alternative power solutions for their homes and home-based small businesses. But is solar accessible to everyone, and can you really afford it?
Solar energy is undoubtedly an investment that will yield long-term savings, but many people find the upfront costs scary. In response Nedbank has created the option of a 96-month solar payment plan through Avo Solar that makes our solar solutions more accessible than ever before.
5 benefits of solar financing through Avo Solar
Affordable monthly payments
With 96 months to pay it off, your Avo Solar installation could start from as little as R1,318 a month.
Maximising cash flow
Financing your solar installation still gives you access to your savings, as you won’t have to use them to pay for your solar investment – it allows you to enjoy the benefits of your investment while maintaining your financial stability. You can keep your emergency fund intact, so you won’t be cash-strapped if you face urgent unexpected expenses. A 96-month loan term means smaller monthly payments and less strain on your income.
Getting more of your electricity from solar is not only good for your pocket, but also for the environment
Lowering financial risk
When markets are volatile and the state of our economy is ever-changing, it’s important to have cash to fall back on. The last thing you want is to commit yourself financially to an investment, only to realise that you can no longer keep up with payments when the next wave of inflation hits. Smaller, consistent payments make it more manageable to ride the inflation wave with minimal risk of defaulting. This safeguards your credit score and helps you build a better financial future.
Maximising return on investment
Return on investment (ROI) is the difference between what you earn from an investment and the total cost of the investment. Your ROI should be a positive number, which shows that you’re getting more out than you put in. Avo Solar financing offers immediate benefits to your ROI that will continue long after your system is paid off – such as reduced electricity bills and increased property value – while spreading the cost of your solar solution over 96 months. The lower payments may also leave you with more money to put away in long-term investment products, which will further increase your ROI.
Sustainability
Solar energy reduces your reliance on grid electricity, which in SA still depends heavily on coal-fired power stations and diesel backup generators. Both fossil fuels produce enormous amounts of greenhouse gases. Getting more of your electricity from solar is not only good for your pocket, but also for the environment – and solar is an endlessly renewable resource. We can no longer deny that climate change is having catastrophic effects, from thousands of species being wiped out to increasingly frequent weather disasters. Solar energy can help you lower your carbon footprint – you can’t change the world by yourself, but every individual effort helps.
Nedbank and Avo Solar have made reducing your reliance on the grid easier than ever before. Contact us for more information on solar financing.
