Power Electronics / Power Management

Rent-to-own solar

22 November 2023 Power Electronics / Power Management

No one is a fan of loadshedding, but what it has done for South Africa is to help accelerate our transition to cleaner energies, especially solar power. “With no end in sight to the electricity crisis in the country, many homeowners who want to install solar aren’t aware of the options that make getting solar an achievable goal in 2024,” says Ross Mains-Sheard, Co-Founder and CEO of Versofy SOLAR.

The size and capacity of your solar installation depends on the size of your house and your family, but even for the most modest home, the capital outlay for the panels, inverter and batteries can be substantial, and not everyone can buy a system outright.

“Versofy’s Solar-as-a-Service (SaaS) and rent-to-own packages put solar within the reach of more households, and come with full service, insurance and maintenance plans, making the upkeep and technical support for your solar system hassle-free,” explains Mains-Sheard.

Solar-as-a-Service is Versofy’s pure solar system rental product, where there is no ownership of the system, and installation, monitoring and support are included in the monthly cost.

Versofy also offers a rent-to-own option. The key here is the flexibility and options you have – you can either upgrade and keep renting the system, cancel the contract, or even transfer it to the new owners or tenants of your house if you’re moving.

For both Solar-as-a-Service and rent-to-buy options, the sign-up process is the same. “Before applying for either of these services, there are a few things that should be completed to ensure that applications go smoothly,” advises Mains-Sheard.

Ensure a good credit score

Your credit score considers how often one has applied for credit, including store cards, cell phone contracts, car financing and credit cards, and whether repayments are being made on time. Defaulting on monthly instalments may incur credit infringements against one’s name, thereby disqualifying that person from accessing further credit.

Calculate your affordability

Before applying, it’s a good idea to do a complete assessment of one’s own affordability. Solar system monthly repayments will closely mirror what is being paid in electricity bills. By maintaining good power-saving habits, reducing the dependence on the grid, and having backup battery power for use during the night and loadshedding, the electricity bill could be substantially reduced, to balance out solar payments.

Versofy SOLAR works with only approved installers, in addition to having its own dedicated customer support team to handle any queries and questions. “With Solar-as-a-Service and rent-to-own, Versofy SOLAR is responsible for its maintenance, so you can be assured that we supply only the best panels, inverters and batteries that make up the entire collection, storage and generation of solar power for your home,” he adds.

Versofy SOLAR is revolutionising the way South Africans access solar energy, even amidst challenging economic conditions and ongoing power shortages. With a simple application process, transparent requirements, and the assurance of quality service and maintenance, Versofy SOLAR is making the transition to solar a seamless, hassle-free experience.

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