Technological advances and pioneering solutions are making solar power more affordable and accessible to both households and businesses. 

Versofy Solar asserts that its innovative solution will allow South Africans from all walks of life to achieve energy independence by using a flexible, subscription-based payment offering. The Gauteng- and Cape Town-based company aims to drive a widespread uptake of clean solar energy across the country.

Civil engineer and Versofy Solar co-founder Ross Mains-Sheard says that cost has hitherto been one of the main barriers to entry into the solar market.

“Traditionally solar has been reserved for the fortunate few who could afford to pay the R150 000-plus price tag upfront and in cash. By offering flexible payment options we have opened up the market from the few to the many. We are quickly reaching the point where if someone can afford to pay their monthly electricity bill they can afford to pay their solar bill,” he explains.

Instead of paying for a full system upfront, the company offers a 60-month rent-to-own subscription model or a solar-as-service option over 36 months. 

“This approach not only allows a wider range of people to gain access to the service, but also removes the cost of ownership required to maintain the product,” says Mains-Sheard. “Another huge benefit to subscriptions is that it allows the end user to constantly have access to the latest and greatest technology.”

The solar power sector includes a range of market players including installers, distributors, banks, insurance and logistics companies and Mains-Sheard believes that the ripple effects of a green-energy uptake will be felt across the South African economy.

Versofy Solar notes that more than 400 homes have already opted for its hybrid solar solution and versatile payment and subscription options. The company’s growth from a team of two to a business of 20, in just one year, highlights the high demand for solar energy in the South African market.