Mass retailer Massmart, in partnership with consumer finance company Retail Credit Solutions (RCS), has introduced a solar energy funding solution in the form of a loan of up to R250 000 for customers wanting to invest in alternative energy sources to cope with loadshedding.
Massmart offers flexible payment plans in which fixed monthly repayments can be tailored to the customer’s monthly expense budget. The repayment period can be extended from 12 to 60 months.
The funding solutions are available at Makro, Builders and Game, and can be released within 24 hours through an online application process available on each of the retail chains’ websites.
“We have noted a significant increase in the number of people who want to fund solar energy projects for their homes and, in partnership with RCS, we place emphasis on developing funding solutions to meet the needs of our customers,” said Massmart financial services senior VP Varsha Dayaram.
“Through this financing solution, we can offer much-needed assistance to cash-strapped South Africans by providing them with funding for their preferred, and more sustainable, energy requirements,” added RCS chief commercial officer Gavin Lomberg.
Finance Minister Enoch Godongwana has announced that individuals who install rooftop solar panels from March 1 will be able to claim a rebate of 25% of the cost of the panels, up to a maximum of R15 000.