WILL SOLAR POWER INCREASE THE VALUE OF YOUR HOME?

The upfront investment is high, which you'll want to recover when you sell

- GRANT SMEE

STAGE 6 loadshedding is now firmly in effect, many South Africans are without power for up to 12 hours each day, and the threat of Stage 8 blackouts loom large on the horison. It’s no wonder then that many households are turning to ‘off-grid’ power sources to keep the lights on and return to some semblance of normality.

Solar power has emerged as the most popular alternative energy option due to its relatively quick installation, soundless efficiency (unlike a noisy generator), environmental benefits, and the prospect of lower future energy bills.

However, the upfront costs associated with solar installation may be prohibittive for the average middle-class homeowner—with options ranging between R59 000 to R289 000, according to pricing from solar provider Solana Energy.

Luckily, the increased popularity of solar power has given rise to a variety of innovative financing options to make solar more accessible and more affordable.

These include:

Outright purchase: Buying the system outright using one's own funds.

Financing the system through a home loan provider: Some of the major banks now offer the ability to add the cost of solar installation to one's home loan.