FINANCING THE FUTURE
We recognise that financing a solar system can be a daunting task. So, we decided to make it a little easier for you. Renu’s in-house finance team have a combined 30 years’ of experience in these matters.
With accredited links to ABSA, Std Bank, First National Bank, Merchant West and Custom Capital, Renu Finance can tailor a solution to YOUR needs. A “one-size-fits-all” approach has been ditched in favour of customer-centric bespoke solutions.
ACCREDITED FINANCIAL PARTNERS
The following options are available to our customers:
A system is purchased from Renu Solar on credit, where you can choose to pay a deposit whilst financing the balance.
Alternatively, you can finance the full amount.
Payments are made via monthly installments over a set period of time. The benefit here is that your reduced energy bill and associated tax benefit (if and where applicable) will assist in servicing the monthly installments.
Once your system has been designed and approved, the Lessor acquires the system and offers it to you, through a retail lease agreement. In contrast to the Installment Sale model, the Lessor retains ownership of the system, although it is often gradually transferred to you via a “lease-to-buy” system.
The Lessor is an accredited Financial Institution that has been approved by Renu Solar.
Your lease payments cover the equipment costs, less a slight residual value (if required), interest costs and a return on capital. Most leases also allow the customer to purchase the system when the lease expires.
The main advantage of this model is the increased affordability for households.
Since the solar system is not owned by you, (in the case of a business), the asset will not reflect as a fixed asset on your balance sheet for the term of the lease agreement.
Similar to a lease or rental agreement Renu Solar with its funding partners offers the market a unique power purchase agreement (PPA). A PPA allows a business to benefit from solar energy without the upfront costs of buying the system. The model is cash generative from day 1.
The concept is simple. Power is purchased on a per kilowatt basis, not dissimilar to how Eskom currently charges for power.
The ideology and approach is to produce power cheaper than Eskom whilst simultaneously servicing the debt component of the solar system. In essence you can pay less for your power and pay off a system over a set period.
Once the debt component is paid off, the power is then free and the exponential savings on electricity begins. This model is made available through exclusive funding lines available to Renu Solar. The model is both flexible and bespoke to suit your requirements.
HOW IT WORKS
Acquiring alternative energy finance is easy. Renu Solar’s flexible finance options help
clients transform their lifestyles without feeling the financial impact.
Offering you the power to energise your future.
COMPLETE & SUBMIT
To process your application, we’ll need to collect some basic information,
including; a quotation from Renu Solar, a copy of your RSA ID, proof of
residence, proof of income (your most recent payslip) and a bank statement
reflecting your salary deposits for the last 3 months.
Once we’ve assessed your application we’ll let you know what interest rate and
repayment terms we can offer you.