As the world shifts to renewable energy in the wake of climate change and escalating living costs, solar power is emerging as a sustainable, cost-effective solution.

In Namibia, solar power is more than an environmental initiative—it’s an investment in a financially viable future, particularly for homeowners.

The initial investment in solar power, however, can be daunting. A typical residential solar system in Windhoek can range from N$20,000 to N$100,000; a cost that often discourages homeowners. Fortunately, Nedbank’s Solar Financing Solution for Home Loans has provided a pathway to renewable energy that addresses these financial constraints.

Acting Head of Home Loans at Nedbank Namibia, Amanda von Wielligh, said that the bank understands that each homeowner has unique needs and financial capabilities. That’s why they have tailored their solar financing options to be flexible and accommodating.

“Our goal is to simplify the process, enabling homeowners to transition to solar without bearing the immediate financial burden,” Von Wielligh explained.

Nedbank offers three avenues for solar financing. These is financing through personal loans, asset-based finance, and leveraging from an existing home loan. A personal loan provides up to N$200,000 over a 60-month term. Asset-based finance extends terms to 48 months, requiring a 10% deposit with no cap on the loan amount.

For homeowners with an existing bond, they can finance their solar requirements via a re-advance, provided there’s sufficient scope on their loan.

Furthermore, with repayments starting from as low as N$1,200 per month, these solutions aim to make solar power accessible for all. In fact, these repayments can often be offset by the substantial savings on monthly electricity bills.

To ensure quality solar installation and maintenance, Nedbank has partnered with Pupkewitz Megatech, a certified solar supplier and installer. Megatech offers expert guidance tailored to the specific needs and requirements of each homeowner.

By choosing solar financing with Nedbank, homeowners are investing in a sustainable future. They decrease their reliance on conventional energy sources, make substantial savings over time, and contribute to environmental conservation—a lasting legacy for future generations.

“Investing in solar energy isn’t just about powering homes,” Von Wielligh emphasises, “It’s about empowering homeowners to make wise financial and environmental choices. At Nedbank, we are committed to making this transition as seamless as possible.”

Von Wielligh said that anyone considering investing in solar energy or would like more information about Nedbank’s solar financing options, he or she can contact the Nedbank Customer Contact Centre for more information.

In the photo: Amanda Von Wielligh.