The Nedbank Solar Finance offering is far from a traditional banking product. It’s a bold, innovative solution that represents the financial sector’s response to the urgent call for climate action. By financing solar projects, Nedbank is not only contributing to the development of a green economy, but it is also empowering its clients to become part of the solution to global energy challenges.
Why choose Nedbank Solar Finance?
With the global environment in a state of constant flux, one thing remains as steady as the rising sun – the need for sustainable energy sources. As the world rapidly gravitates towards renewable energy, businesses are faced with the challenge of aligning their operations with the planet’s needs without compromising their own.
One company leading the charge in this area is Nedbank, one of South Africa’s four largest banks, through its revolutionary Solar Finance initiative. This ground-breaking project, designed to facilitate the transition to renewable energy for both individuals and businesses, is making waves in the financial sector and the broader green movement alike.
In this blog, we’ll delve into the intricacies of Nedbank’s Solar Finance initiative, explore how it is catalysing the adoption of solar energy in South Africa and beyond, and examine how this programme embodies the bank’s commitment to a greener, more sustainable future.
Whether you’re a sustainability advocate, an entrepreneur seeking a cost-effective and environmentally friendly power solution, or an individual looking to lower your carbon footprint, join us as we uncover the potential of solar finance with Nedbank.
Obtaining Nedbank Solar Finance: A Step-by-step Guide
01. Select a Nedbank-endorsed solar expert
It is crucial to opt for a solar supplier approved by Nedbank when it comes to Nedbank Solar Finance. These suppliers have been thoroughly assessed, endorsed, and acknowledged by the South African Photovoltaic Industry Association (SAPVIA). They come equipped with all the essential legal contracts and procedures to guarantee your protection, assuring top-notch quality and service standards.
02. Conduct a needs evaluation and get a quote
Reach out to our approved solar supplier for a comprehensive needs analysis, resulting in an engineering proposal. This will be followed by a quotation for an energy solution tailor-made to your requirements and budget. Our authorized suppliers will handle your complete solar journey, from needs analysis to managing the installation, along with continuous operation and maintenance. This entire procedure can span between three to six weeks, subject to stock availability.
03. Grasp the green energy investment process
Investing in green energy can be complex, involving a variety of calculations and logistics that might be costly. To grasp the total expenses from installation to insurance, initially determine:
- your energy consumption and requirements
- any other necessary adjustments.
04. Submit a finance application
Before applying for Nedbank Solar Finance, ensure you possess an installation quotation from a Nedbank-endorsed supplier.
Option A: Asset financing
MFC strives to empower you with the resources to purchase a solar energy solution for your residence. It achieves this by partnering with approved providers, guaranteeing a safe, secure, and straightforward experience.
Apply for finance, spread over up to 72 months at a competitive interest rate, with MFC, a division of Nedbank. The application process is swift, simple, and can be done online.
Option B: Through your home loan
You can finance your solar energy solution via your existing Nedbank home loan. The slight increase in your home loan installment will be compensated by a decrease in your monthly electricity bill. Benefits include:
- Utilize the funds available in your NedRevolve facility.
- Apply for a re-advance or an additional loan.
- Consider switching your loan to Nedbank.
05. Set up and relish your new energy solution
Once your Nedbank Solar Finance is approved, get in touch with your supplier to schedule the installation of your energy solution at a convenient time. The whole process, from initial contact with the supplier for a proposal and quote to applying for finance and final solar solution installation, typically spans three to six weeks, depending on stock availability.
