Discover Nedbank’s solar financing options for homeowners
As the world shifts to renewable energy in the wake of climate change and escalating living costs, solar power is emerging as a sustainable, cost-effective solution. In Namibia, solar power is more than an environmental initiative, it is an investment in a financially viable future, particularly for homeowners.
The initial investment in solar power, however, can be daunting. A typical residential solar system in Windhoek can range from N$20,000 to N$100,000, a cost that often discourages homeowners. Fortunately, Nedbank’s Solar Financing Solution for Home Loans has provided a pathway to renewable energy that addresses these financial constraints.
Acting Head of Home Loans at Nedbank Namibia, Amanda von Wielligh said that the bank understands that each home owner has unique needs and financial capabilities. That is why they have tailored their solar financing options to be flexible and accommodating.
“Our goal is to simplify the process, enabling homeowners to transition to solar without bearing the immediate financial burden,” Von Wielligh explained.
Nedbank offers three avenues for solar financing. These are financing through personal loans, asset-based finance, and leveraging from an existing home loan. A personal loan provides up to N$200,000 over a 60-month term. Asset-based finance extends terms to 48 months, requiring a 10% deposit with no cap on the loan amount. For homeowners with an existing bond, they can finance their solar requirements via a re-advance, provided there’s sufficient scope on their loan.
Furthermore, with repayments starting from as low as N$1200 per month, these solutions aim to make solar power accessible for all. In fact, these repayments can often be offset by substantial savings on monthly electricity bills.
To ensure quality solar installation and maintenance, Nedbank has partnered with Pupkewitz Megatech, a certified solar supplier and installer. Megatech offers expert guidance tailored to the specific needs and requirements of each homeowner.
If you are considering investing in solar energy or would like more information about our solar financing options, please contact the Nedbank Customer Contact Centre at 061 959 2222 or visit www.nedbank.com.na for more information.
