{"id":6282,"date":"2023-03-07T12:59:01","date_gmt":"2023-03-07T10:59:01","guid":{"rendered":"https:\/\/straton.co.za\/solar\/?p=6282"},"modified":"2023-03-07T12:59:01","modified_gmt":"2023-03-07T10:59:01","slug":"solar-power-is-cheaper-than-ever-before-practical-and-available","status":"publish","type":"post","link":"https:\/\/straton.co.za\/solar\/solar-power-is-cheaper-than-ever-before-practical-and-available\/","title":{"rendered":"Solar power is cheaper than ever before, practical, and available"},"content":{"rendered":"

Article contribution by:<\/strong> Shaun Rademeyer, CEO MultiNET Home Loans.<\/p>\n

You can build your independence in stages if you dream of cutting ties with the grid.<\/p>\n

The term \u2018load-shedding\u2019 was first used in late 2007, since then South Africans have been dealing with regular power interruptions on the national grid for 14 years. There is no way of knowing how long this situation will continue, or when we will be able to rely on the grid 24\/7 again. Many of us have bought diesel generators to power the essentials in our homes during outages, but that solution is noisy and expensive, while contributing to air pollution and greenhouse gas emissions.<\/p>\n

Solar power is cheaper than ever before, practical, and available.<\/strong><\/p>\n

The simplest solution is a battery and inverter system, which will supply your essential electricity needs over a few hours to cover load-shedding, after which it needs to be recharged. But if you recharge it using grid power, you\u2019re paying the same price for grid electricity, and then adding extra expense to store it up and use it when the grid fails to deliver.<\/p>\n

That\u2019s why it\u2019s worth investing in photovoltaic solar panels that turn sunlight into electricity \u2013 whether you just want to recharge a battery and inverter system that provides power during load-shedding, or if you\u2019re even considering going off the grid completely.<\/p>\n

Rapid advances in technology have driven down the cost of installing a solar energy system, making this far more affordable than you might think \u2013 and there are several financing options available.<\/p>\n

Depending on your budget, it might make sense to start by installing a system just to cover your basic power needs during load-shedding.<\/p>\n

Solar and battery backup solutions are not cheap investments, so it\u2019s important that all systems are correctly designed and sized to ensure that enough power and runtime are available to cover your needs, as well as to ensure optimal return on investment from your solar system. Work with a reputable solar contractor accredited by the South African Photovoltaic Industry Association (SAPVIA \u2013 the representative body of the solar PV industry in South Africa), to establish the right balance between solution sizing and your budget.<\/p>\n

If load-shedding should continue or get worse over the next 10 or 15 years, you\u2019ll still be spared the inconvenience, stress and lost productivity caused by power failures. It\u2019s always best to seek expert advice on exactly what your home would need to become energy self-sufficient, so it\u2019s important to find installers accredited by SAPVIA and who use only quality products.<\/p>\n

Start with a load-shedding solution.<\/strong><\/p>\n

Depending on your budget, it might make sense to start by installing a system just to cover your basic power needs during load-shedding. By adding solar panels and batteries to the system later, you can scale up to a full solar conversion.<\/p>\n

As a rough estimate, a backup solution that will provide 2 to 4 hours of power will cost around R70 000 for low-use households, R95 000 for medium-use households and up to R120 000 for high-use households, including installation and a certification of compliance. A battery backup will wire into your DB board and provide a seamless transition to backup power when the grid goes down.<\/p>\n

Generally, the battery backup should have sufficient capacity to power your lights, fridge, freezer and essential plugs, but will exclude heating appliances like ovens and toasters. But remember, the costs mentioned are for a battery backup that recharges from the grid, not a solar panel.<\/p>\n

Building energy independence, step by step<\/strong><\/p>\n

Going completely off the grid requires a solar system capable of producing enough electricity to power your peak consumption, coupled with a battery backup that can power your house during hours where there is no sunlight.<\/p>\n

On average, for a low-consumption household this will cost around R150 000, for a medium-sized household about R250 000 and for a large household at least R350 000. On a 10-year loan at 10.75% interest, that translates to monthly payments of R 2\u00a0045,08, R3\u00a0408.25 and R4\u00a0771.85 respectively.<\/p>\n

This journey to energy independence doesn\u2019t need to be tackled all at once. You will be able to scale your system as your needs grow. Discuss these options, and the stages in which to add them, when planning the conversion with your solar contractor.<\/p>\n

Are the savings worth the cost?<\/strong><\/p>\n

Based on the figures in our examples, switching to solar could save you at least R1 700 on your monthly electricity bill from the start. Your loan repayments are likely to be slightly higher than that, so in the beginning you will be paying more for your electricity \u2013 in return for the convenience and security of uninterrupted power whenever you need it.<\/p>\n

Once your system is paid off, though, the electricity it provides is free. That will add up to a massive saving over the years. Depending on how much power you use, doing a full off-the-grid conversion could take between 11 and 14 years before the money you\u2019ve saved equals the cost of the system; the point at which it has paid for itself.<\/p>\n

Using your home loan to finance a solar conversion won\u2019t yield savings overnight, but it will in the long run.<\/p>\n

Using your home loan to finance your solar conversion.<\/strong><\/p>\n

The most affordable way to pay for your solar installation is to use your home loan, because home loans offer lower interest rates than personal loans. Financing the installation this way could add between R700 and R2 000 to your monthly loan payments, depending on the size of the system you need. Remember, though, that the increase in your home loan instalment will be offset by a decrease in your electricity bill \u2013 so the switch may not affect your monthly budget that much.<\/p>\n

Using your home loan to finance a solar conversion won\u2019t yield savings overnight, but it will in the long run \u2013 once it\u2019s paid for, you\u2019ll have permanent free electricity. Other perks are an uninterrupted power supply and reducing your household\u2019s impact on the environment \u2013 both issues that matter just as much as cutting costs.<\/p>\n

While it is difficult to qualify the actual value-add in monetary terms, having off the grid\u00a0 installations make a property more sellable.<\/p>\n

\u201cIf there are two equivalent homes on the market and one has green features, the green home will appeal to a wider market and will sell quicker than the home without such features.\u201d Says Shaun Rademeyer, CEO MultiNET Home Loans<\/p>\n

An added benefit says Rademeyer \u201c For private households, individuals who install rooftop solar panels from 1 March 2023 will be able to claim a rebate of 25% of the cost of the panels, up to a maximum of R15,000.\u201d<\/p>\n

\u201cThis can be used to reduce their tax liability in the 2023\/24 tax year. This incentive will be available for one year,\u201d<\/p>\n

To qualify, the solar panels must be purchased and installed at a private residence, and a certificate of compliance for the installation must be issued from 1 March 2023 to 29 February 2024.<\/p>\n

Many of the major banks of South Africa are now providing financing options for consumers to leverage off their home loan. Get in touch with a MultiNET Specialist for more information.<\/p>\n

CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Article contribution by: Shaun Rademeyer, CEO MultiNET Home Loans. You can build your independence in stages if you dream of cutting ties with the grid. The term \u2018load-shedding\u2019 was first used in late 2007, since then South Africans have been dealing with regular power interruptions on the national grid for 14 years. There is no […]<\/p>\n","protected":false},"author":1,"featured_media":6283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2],"tags":[],"class_list":{"0":"post-6282","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-solar","8":"entry"},"jetpack_publicize_connections":[],"featured_image_src":"https:\/\/straton.co.za\/solar\/wp-content\/uploads\/2023\/03\/SA_Rands_Flying.jpg","featured_image_src_square":"https:\/\/straton.co.za\/solar\/wp-content\/uploads\/2023\/03\/SA_Rands_Flying.jpg","author_info":{"display_name":"Alan","author_link":"https:\/\/straton.co.za\/solar\/author\/alan\/"},"jetpack_featured_media_url":"https:\/\/straton.co.za\/solar\/wp-content\/uploads\/2023\/03\/SA_Rands_Flying.jpg","jetpack_shortlink":"https:\/\/wp.me\/p5HvVd-1Dk","jetpack-related-posts":[{"id":72,"url":"https:\/\/straton.co.za\/solar\/the-principle-and-benefits-of-grid-connected-pv\/","url_meta":{"origin":6282,"position":0},"title":"The principle and benefits of grid-connected PV","author":"Alan","date":"15 December 2014","format":false,"excerpt":"Energy costs continue to increase year-on-year, and while the national energy regulator (NERSA) has limited electricity price hikes to just 8% over the past few years, this will likely increase in 2015. 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