• November 4, 2023 1:14 am

Why Installing a Solar and Battery System Makes Sense Regardless of Eskom Load Shedding Fixes

Oct 9, 2023
Why Installing a Solar and Battery System Makes Sense Regardless of Eskom Load Shedding Fixes

Solar and battery systems are becoming increasingly important in South Africa as a means to mitigate the disruptions caused by load shedding. However, these systems offer numerous advantages beyond just providing electricity during power cuts, as highlighted by Standard Bank’s home efficiency platform, LookSee.co.za.

Why Installing a Solar and Battery System Makes Sense Regardless of Eskom Load Shedding Fixes

Investing in a solar and battery system is a smart financial move that can yield multiple benefits, even if Eskom manages to resolve the national power grid issues.

Reduced Power Bills

One of the primary advantages of installing a solar and battery system is the significant reduction in your monthly electricity bill.

South Africa has witnessed substantial increases in electricity prices in recent years, with the most recent tariff hikes in April 2023 amounting to a substantial 18.65%. Marc du Plessis, Executive Head of LookSee, explains that “with a solar and battery system, you can reduce your reliance on Eskom’s grid and avoid these massive increases in the years ahead.”

For instance, a 5kW solar system could save you approximately R1,690 on your monthly electricity bill, equivalent to R20,280 annually at the current average electricity tariff. Even if electricity prices increase by just 15% the following year, your annual savings could rise to around R23,000.

Increased Property Value

A solar power system can significantly enhance the value of your home. Potential home buyers recognize that solar power systems offer ongoing monthly savings and are often willing to pay more for a house equipped with this sustainable feature.

Therefore, instead of viewing a power system as an expense, consider it a long-term investment that adds value to your property.

Blackout Resilience

While the reduction in load shedding is welcome news, it does not eliminate the possibility of power outages in South Africa. Factors such as power infrastructure vandalism, severe weather conditions, and human errors can still lead to extended blackouts in certain areas.

Having a solar and battery system ensures a stable and reliable power supply even during unexpected blackouts, providing peace of mind.

Solar Affordability

For those contemplating a solar installation, the timing is favorable. The prices of solar panels and batteries have significantly decreased since the beginning of the year, with some components costing up to 20% to 30% less.

Moreover, households can claim a 25% tax rebate on the cost of qualifying solar panels, up to a maximum of R15,000, through the National Treasury’s Home Solar Tax incentive if they are put into use before February 29, 2024.

Choosing LookSee Solar Loans

LookSee offers a new Solar Loan program in collaboration with the Government Energy Bounce Back Loan Scheme, providing an affordable way to install a solar and battery system in your home.

As part of the Standard Bank Group, LookSee offers solar loans with significantly lower interest rates, personalized up to a maximum of Prime +2.5% on loans ranging from R3,000 to R300,000.

This rate is notably lower than the average Prime +7%. Furthermore, these loans can be repaid with a flexible plan spanning from 12 months to five years. Opting for early loan repayment also comes with reduced interest payments, making it a cost-effective choice for solar system financing.

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