Due to the persistent energy crisis in South Africa, load shedding has become a regular event, disrupting both businesses and households. This interruption not only halts productivity but also poses significant inconvenience.
To tackle this situation, Absa, one of the nation’s leading banks, has introduced Absa Solar Finance. This comprehensive set of products and services is designed to help customers navigate through the inconvenience of power outages.
Exploring Absa Solar Finance
Like Nedbank’s Solar Finance, Absa offers Loadshedding Solutions, a suite of products and services aimed at mitigating the effects of power outages. The portfolio includes backup power options such as generators and solar systems, as well as financing solutions for these systems.
The objective of these offerings is to aid customers in maintaining productivity and minimize the disruption caused by power shortages.
Absa Solar Finance: What’s on Offer?
Absa Solar Finance caters to customers facing power outages with an array of products and services including:
Uninterrupted Power Supply (UPS)
A UPS system stores electrical energy from the grid for use during power cuts. Easy-to-install options can be purchased at local stores or installed by professionals to suit your specific energy needs. Through such offerings, Absa strives to ensure that its customers have continual access to electricity during load shedding periods.
Grid-tied System
A popular solar energy solution is the grid-tied system, composed of solar panels and an inverter. Solar panels convert sunlight into direct current (DC) electricity, which the inverter then turns into alternating current (AC) to power household appliances. However, it’s worth noting that any surplus energy, without a battery for storage, is wasted and that the system does not function during load shedding or power outages since it relies on the grid.
Hybrid System
For a constant power supply even during load shedding, a hybrid solution is advisable. This includes batteries in your solar system to store excess energy for later use. With a battery-integrated setup, you can keep your lights on even during grid disruptions.
Going Off Grid
If you’re looking for total energy independence, an off-grid solution is your best bet. It disconnects from utility supplies and solely depends on your solar system for electricity. High-wattage appliances may not be supported by off-grid systems, so alternatives such as a solar geyser or gas stove/heater need to be considered.
Benefits of Absa Solar Finance
Utilizing Absa’s Loadshedding Solutions can help maintain productivity and reduce the damage caused by power outages, particularly for businesses heavily reliant on a steady electricity supply. Financing options make these backup power solutions more affordable, and insurance products provide coverage against any damage or loss resulting from power cuts.
The Absa Solar Finance Calculator
Check out the Absa Solar Finance Calculator to evaluate the financial implications of enduring load shedding. This tool enables you to calculate the cost of powering your home and provides an insight into possible savings on electricity bills. It can also assess the feasibility of becoming power independent or moving to an off-grid lifestyle.
Simply choose the solution and financing option that fits your needs to get started.
Options include using your Absa Home Loan, switching your home loan to Absa and securing additional funds, using a credit card, or applying for a personal loan. The loan term is set at 72 months with an interest rate of 10.75%.
In Conclusion
Given the prevalence of load shedding in South Africa, Absa’s Loadshedding Solutions provide a much-needed respite for households and businesses. By offering backup power solutions and financing options, customers can stay productive and minimize the impacts of power outages.
Visit Absa’s website today to learn more about Absa Solar Solutions and fill out an online call-me-back form to discuss your needs with a consultant and get a quote!
