Get a Solar Loan from LookSee and make 2024 a load-shedding-free year
LookSee’s affordable solar offerings are the best way to equip your home with a solar system that will allow you to forget about load-shedding in 2024.
Created by Standard Bank, LookSee’s mission is to enhance your home’s energy efficiency and resilience by offering cost-effective financing solutions and helpful online tools.
LookSee executive head, Marc du Plessis points out the South African government is currently running two initiatives that make now the best time to buy and install a solar system in your home.
Energy Bounce Back Loan scheme
The first is the government’s Energy Bounce Back Loan scheme, which makes it easier for financial service providers (FSPs) to offer lower interest rates on their solar loan products.
The scheme gives loan providers a guarantee that the South African Reserve Bank will be liable for initial losses of up to 20% – reducing the risk faced by FSPs.
The end goal of the Energy Bounce Back Loan scheme is to generate an additional 1,000MW of electricity through rooftop solar before 30 August 2024 – at which point the scheme will end.
“We were the first to go the market with a Residential offering based on this scheme and our Solar Loan is a game changer for households that don’t want to use their home loans to finance their solar installation,” says du Plessis.
The LookSee Solar Loan offers personalised interest rates capped at a maximum of prime plus 2.5% on values ranging between R3,000 and R300,000. Flexible repayment terms are offered up to 5 years with no penalties for early settlement.
Solar Panel Tax Incentive
The second is the Solar Panel Tax Incentive, which enables South Africans to claim back 25% of their home solar panel installation costs – going up to R15,000 per individual – from SARS.
This incentive is running until February 2024 and National Treasury has stated that it will not be extended.
“It is important to note that your solar system must be physically installed in your home before the end of February to qualify for this incentive – and you must plan for your purchase and installation in advance to ensure you don’t miss out,” says du Plessis.
Get a LookSee Solar Loan
A LookSee Solar Loan is the best way to maximise the government’s two solar energy initiatives and get a solar system installed on affordable terms.
To apply for a LookSee Solar Loan, simply:
- Get a solar quote – Get a quote for the solar system you intend to install.
- Choose your loan – The LookSee Solar Customer Care Team will help you decide on the best loan and repayment period to meet your budget.
- Pay your installer – Your loan will then be paid into your bank account, enabling you to cover your solar deposit and schedule your installation.
By completing your installation before the end of February 2024, you will benefit three-fold – from the Energy Bounce Back Loan scheme, the Solar Panel Tax Incentive, and LookSee’s industry-leading Solar Loan product.
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