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Nedbank Solar Finance
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Learn more details about the loan Nedbank Solar Finance
- Savings on Electricity Bills
- Up to 110% coverage of the energy solution
- Partnership with trusty suppliers
- Renewable energy insurance option
Frequent power outages have been a big problem for many homes and small businesses in South Africa. To help deal with this issue, Nedbank offers financed energy solutions for homes. This means they’ll help people get renewable energy sources to save money and cope better with power cuts.
Why Is Nedbank So Important?
Nedbank Group, a prominent financial services group in South Africa, provides wholesale and retail banking services, insurance, asset management, and wealth management.
At Nedbank, individuals aren’t just numbers, they’re empowered to make a positive impact on individuals, businesses, and society. With a focus on leveraging expertise to drive meaningful change, Nedbank celebrates driven, talented individuals who want to make a difference.
Nedbank offers affordable loans with interest rates ranging from R2k to R300k, including up to 100% property loans and 105% for first-time buyers, Nedbank also provides full or part-time student loans for those pursuing education. With instant access to credit, Nedbank supports individuals in reaching their financial goals.
Want to get a Nedbank Solar Finance? Then tap the green button above and see how to apply for one!
Benefits of Nedbank Solar Finance
Reliable Power Supply
Investing in solar with Nedbank ensures a reliable power supply, freeing you from the uncertainties of grid electricity that’s getting more expensive each year.
The initial investment for a basic system without batteries to reduce daytime grid usage and aid in daytime power cuts is around R50,000.
For complete independence from the grid day and night, a system with battery storage could cost R200,000 or more. It will depends on your home size too and your desired option, but this improvement can be costly.
Savings on Electricity Bills
Reduce or eliminate your monthly electricity bills, potentially to zero, balancing out the new monthly loan installments.
The cost of solar panels can be around R2,000 each, and an inverter ranges from R15,000 to R50,000 depending on size.
Batteries, which are the most expensive part of the system, can start at R30,000 and go up to R150,000 based on the required energy storage capacity.
Financial Support and Competitive Financing
Access Nedbank’s solar financing options on your home loan or assets, providing competitive financing that makes your solar investment financially sensible.
Loan payments can be balanced against potential savings on electricity bills, making the investment more feasible.
Nedbank offers tailored financing solutions that can help cover the initial investment in solar panels, batteries, and inverters.
Energy Independence
Achieve energy independence by reducing reliance on the grid, with the potential to completely remove your reliance on grid power, especially with a comprehensive system.
Larger systems with more storage capacity allow for longer periods of independence from the grid.
The calculation of whether the investment is worth it involves multiplying the electricity produced annually by the present rate per kWh, as listed on monthly electricity bills.
Why Choose Nedbank Solar Finance Loan
Choosing Nedbank Solar Finance Loan means gaining access to competitive financing options that make investing in solar energy a financially savvy decision. For example, for a hybrid grid-connected solar battery system described above, with a monthly grid-electricity consumption cost of around R2,475 (based on 1,125 kWh per month), the solar system could save an average of R1,450 per month. When using their solar financing options on a home loan, or through asset finance, one could see the monthly repayment increase by approximately R1,500 (assuming a 15-year bond at 7.5% interest).
This leaves a surplus cost of only R50 per month for load-shedding protection until the loan is paid off. Afterwards, customers begin saving R1,450 on electricity costs every month, more than covering the replacement cost of batteries every 10 years. By doing these calculations based on individual usage and electricity bills, potential benefits can be seen.
With Nedbank Solar Finance, peace of mind and uninterrupted power are purchased, escaping annual grid electricity price hikes. Visit their solar energy finance page to find approved service providers for evaluating solar systems, savings, and finance options in your area.
Want to get a Nedbank Solar Finance? Then tap the green button below and see how to apply for one!