South African homes have been installing over 38000 high pressure and 8400 low-pressure water heaters since 2008. South Africa also has 320 sunshine days a year and double the irradiation of Europe. Solar systems save a considerable amount of money in the long term and place no demand on the national grid. So why does every home not have one?

According to Mark Willoughby, Group Managing Director of OneEnergy, ‘investing in solar energy is an investment that South African consumers should be strongly considering’. Willoughby strongly states ‘Solar water heaters use the sun’s power to heat up hot water. This is very useful because typically, 40% of a household’s electricity bill is attributed to heating water. By installing solar water heaters, consumers can save up to 80% on the 40% output for heating water. In addition, the installation is relatively inexpensive and the value outweighs the initial cost”.

With a large portion of electricity bills allocated to heating water, this translates to an increase of 11 % per annum by Eskom and municipalities. Over a period of ten years a bill estimated at R 1600 will eventually climb to approximately R 350 000. By installing a solar energy heater consumers save a substantial amount of money, as much as R 120 000 over a ten years!Head at Gener8, Dionne Loreti further explains “If customers were to select stand – alone systems and lower their Eskom usage, customers would save 100% on their electricity”.

With the obvious benefits to installing solar water heaters, the primary reason for many South Africans not installing solar heaters is due to the initial purchase price of the technology. Loreti acknowledges the concerns of South Africans saying, ‘The initial capital outlay is high, but will be paid back, however’.

GreenFin, a specialized financial services company, provides loans for alternative energy products that require substantial initial investment. Marketing & Brand Manager for GreenFin, Michelle Fischer says GreenFin works closely with solar suppliers to ‘support consumers and provide them with the means to achieve renewable energy’.

Loreti agrees saying, “Our relationship with Greenfin has definitely benefitted us as a Company as well as our customers. It allows our customers to pay a system off over a period of time, the savings which they have received, can then be used to put towards the monthly instalments.

”With a reputation of running a ‘tight ship’, GreenFin enables the installation of quality systems that many clients may not have been able to afford, ensuring that GreenFin remains a great partner to solar suppliers and consumers.

For consumers, GreenFin is fast and easy to use: upon completion of a simple online application, process submitted via www.greenfin.co.za a formal quotation is provided within one hour. Loan terms are flexible and tailored to the needs of the client. With an immediate payment, there is no delay in installation.

In addition to household consumers, corporate businesses and small businesses are also making the switch.  Having been involved in installing 15 000 high – pressure solar geysers and 500 KW of photovoltaics, SkyBridge Solar’s James McCallum expresses his motivation for green consciousness saying ‘ it’s not just about saving costs, it’s also about eco-consciouness’.  

In every case, the long-term cost benefits outweigh the initial start-up cost and when looking at the future of solar it certainly does look sunny. It is most likely that we can anticipate further technological improvements to existing solar systems. With this in mind, McCallum believes that photovoltaic panels will become efficient and through efficiency, half the production cost.

South African consumers owe it to themselves to think long term when considering solar energy, its costs and benefits. GreenFin’s progressive financing solutions prove that becoming efficient in lowering your carbon footprint can be a practical and affordable experience; ensuring that you work well within your financial means, while helping to save the planet.