Hi Guys,

 

I see quite a few companies offer financing, rentals or rent to own options. 

Go Solr pricing seems more competitive than any of the others, although their model is pure rental without ever owning the system. The maintenance and repairs are covered by them

Based on my calculations break even on an equivalent system is around 5 years, which is probably the point when you need to pump in capital to replace batteries. 

 

What are your views? Is it worth a consideration?

 

https://www.gosolr.co.za/?gclid=Cj0KCQiAuvOPBhDXARIsAKzLQ8FQMmzPSds-PDON1a2W25siykr1lBTFPfQ0HhCy0a7HZIUF6GYk4-8aAoSIEALw_wcB

Like renting a house, you keep on paying but it is never yours. You end up funding someone else's assets. So there cannot really be a breakeven. The sum you have to make is current and future electricity spend vs LCOE (levelised cost of energy considering your specific use case and expected solar fraction) of the hybrid system.  There should be some sort of monthly saving, which should increase at a rate equal to the difference between electricity increases and rental escalation.

I'd say its only an option you dont intend to stay long (or you are in a rental property ... hmmm) or simply dont have access to the capital or do not think you will get your capital back when selling. In all other cases I'd think an outright purchase is the better option. 

Edited February 4, 20223 yr by Scubadude

rather than rent to own, consider accessing your bond to purchase a solar system which will give you the best of both worlds, very low repayments on monies accessed, along with adding (significantly) to your property value. 

Further solar need not be expensive, and there's plenty of ready knowledgeable help and assistance on the forum to help you along on the journey.

an example for reference, cost of equipment only, 5kw inverter, 5kw panels and  5kwh battery will cost R65k. (add 5k - 8K for a sunsynk)

accessing the funds through your bond the repayment will be around R650.00 per month.

Food for thought and of course your property will go up in value, usually by much more than the spent amount, a call to your local estate agent will confirm this.

so you wind up getting value on both sides of the equation, reduction in power bills and an increase in your property value, coupled with low repayments on capital.

lastly you'll find the monthly payments on capital spent on solar will be much much less than the the power bill, this large gap between accessed capital and the power bill is why the rent to own market can exist, but obviously they ensure they take the majority of the benefit while passing on just enough to get you to sign off on it.

Edited February 4, 20223 yr by Nitrious

8 minutes ago, Nitrious said:

rather than rent to own, consider accessing your bond to purchase a solar system which will give you the best of both worlds, very low repayments on monies accessed, along with adding (significantly) to your property value. 

Further solar need not be expensive, and there's plenty of ready knowledgeable help and assistance on the forum to help you along on the journey.

an example for reference, cost of equipment only, 5kw inverter, 5kw panels and  5kwh battery will cost R65k. (add 5k - 8K for a sunsynk)

accessing the funds through your bond the repayment will be around R650.00 per month.

Food for thought and of course your property will go up in value, usually by much more than the spent amount, a call to your local estate agent will confirm this.

so you wind up getting value on both sides of the equation, reduction in power bills and an increase in your property value, coupled with low repayments on capital.

I would have thought a 5kw hybrid inverter, 5kw panels and  5kwh battery will cost closer to R100k

There is a perception that solar is expensive, its why I gave a quick example.

keep in mind your actual requirements still need to be assessed and load reduction measures taken.

I'll put the cheap 5kw version, and the recommended version of a 5kw system. I'm sure others will also be along to share their views.

Cheap version

1x KODAK Solar Off-Grid Inverter King  5KW 48V -> Insert 1x Axpert 5kw inverter of your choice here => R10,872.18

10x JA Solar 540W Mono PERC Half-Cell MBB => R3,225.91 each

1x Pylontech Lithium Ion 4.8kW UP5000 Battery => R22,186.39

Total R 65317.67 vat incl. 

Recommended version

1x Sunsynk 5kW Hybrid Inverter => R18,500.00

14x JA Solar 540W Mono PERC Half-Cell MBB => R3,225.91 each

1x Pylontech Lithium Ion 4.8kW UP5000 Battery => R22,186.39

Total R 85849.13 vat incl.

 

Edited February 4, 20223 yr by Nitrious

7 minutes ago, Nitrious said:

There is a perception that solar is expensive, its why I gave a quick example.

keep in mind your actual requirements still need to be assessed and load reduction measures taken.

I'll put the cheap 5kw version, and the recommended version of a 5kw system. I'm sure others will also be along to share their views.

Cheap version

1x KODAK Solar Off-Grid Inverter King  5KW 48V -> Insert 1x Axpert 5kw inverter of your choice here => R10,872.18

10x JA Solar 540W Mono PERC Half-Cell MBB => R3,225.91 each

1x Pylontech Lithium Ion 4.8kW UP5000 Battery => R22,186.39

Total R 65317.67 vat incl. 

Recommended version

1x Sunsynk 5kW Hybrid Inverter => R18,500.00

14x JA Solar 540W Mono PERC Half-Cell MBB => R3,225.91 each

1x Pylontech Lithium Ion 4.8kW UP5000 Battery => R22,186.39

Total R 85849.13 vat incl.

 

Where do you get your pricing from, because all of them seem like 3 months old?

I'm a sucker for a good deal 😀, also its retail pricing but I can always get it in writing if it helps. its from a recently vetted supplier.

Edited February 4, 20223 yr by Nitrious

6 minutes ago, Nitrious said:

I'm a sucker for a good deal 😀, also its retail pricing but I can always get it in writing if it helps. its from a recently vetted supplier.

"Recently vetted"... but not able to supply... I would be surprized if they actually deliver at that price.

Edited February 4, 20223 yr by P1000

lol, why is the supplier such an issue ?, its ballpark figures atm, and on top of that, did you call to confirm stock availability with those guys and in fact they're not the only supplier around btw.

Supply is usually the least of my issues in life.

Perhaps rather have a look at the system specs, see if anything further can be added or improved upon, should be the real focus here imo.

Edited February 4, 20223 yr by Nitrious

3 minutes ago, Nitrious said:

lol, why is the supplier such an issue ?, its ballpark figures atm, and on top of that, did you call to confirm stock availability with those guys and in fact they're not the only supplier around btw.

Supply is usually the least of my issues in life.

Perhaps rather have a look at the system specs, see if anything further can be added or improved upon, should be the real focus here imo.

The problem is that no other supplier has comparable pricing, so your table is probably way too optimistic.

Perhaps use powerforum pricing instead:

your really going to make me do this aren't you.

good sourcing is a major part of any supply chain, and absolutely essential I might add.

I can pick up the phone and confirm/match the pricing from multiple suppliers without to much hassle and it'll all be close. I'll even ship the panels in from china myself if it helps this come to some kind of conclusion, and I assure the pricing will be even lower.

I'm giving an example of 2 systems to someone asking for assistance, so they can compare options and make an informed decision, or at least gain a better idea, nothing more, nothing less.

please rather focus on the intent here.

 

Edited February 4, 20223 yr by Nitrious

Ok but the above doesn’t include ancillary parts, mounting and installation 

 

so realistically R100k for a decent system 

besides whatever else happened, did the info represented help you ?

the recommended system gives a good reference point for when you start getting quotes in, ensure 12x - 14x 540w panels.

its not only about it being R100k but what you're getting for that R100k.

also to be fair this is all very hypothetical, and a proper analysis needs to be done.

1. consider options for load reduction, solar geyser, heat pump, gas stove etc. recommendations can be made here. load reduction measures should be the first step, as they greatly reduce the size and cost of the system needed.

2. Then install a device that monitors and logs your power usage for a week or two, on the residual load requirements and size the system accordingly.

This is usually also the point where you need to decide on direction and/or compromises, keep in mind solar is an averages game on cost saving and oversizing to go off grid completely reduces roi. This is where the more difficult decisions start to come into play, striking that all important balance. 

however, your always welcome to get assistance based on where you land on 1. and 2.

Edited February 4, 20223 yr by Nitrious