When investigating solar power systems for your business, it is important to assess all the finance options available to you. The route you take finance-wise depends on your business’s cash flow, budget and projections. Let’s explore some of the solar power finance options available to your business.
Upfront Payment
If your business has the capital and good cash flow, you could afford to pay the costs of installation upfront. Paying the full amount for your new solar power system upfront has the benefit of helping you avoid paying any interest and potentially enjoying the cost-saving benefits sooner. Sometimes when paying the full amount upfront, you are able to negotiate a discount with the installer.
Business Loan
If your business is not in a position to fork out the upfront investment on a solar power system, you can look into applying for an unsecured business loan to fund the project. If your business has made more than R1 million in turnover in the past year and has been trading for over 12 months, you can apply for an unsecured business loan of between R50k and R3 million.
Solar Power System Rental
Another innovative finance solution is the rent to own model or solar power system rental model of finance. You will apply for solar power installation and pay a monthly rental to the installer for your solar power system for an agreed period of time. You can enjoy the cost-saving benefits of solar power from day 1 without a massive initial investment.
Interested in applying for solar power system rental? Fill out our application form and our installer will be in contact with you with the next steps.