milec solar finance

Solar Financing

Acquiring finance is simple and fast. Our finance options help clients switch to green and eco-friendly lifestyles with all the flexibility they need to not feel the financial pinch.

  • 1 We put you in contact with our relevant registered services provider to collect the following from you
    Our quotation for your solar system, a copy of your RSA ID, proof of residence, proof of income (your most recent salary payslip) and a bank statement reflecting the salary deposits for the last 3 months.

  • 2Your application gets assessed
    Once they’ve assessed your application, they’ll let you know what interest rate and repayment terms they can offer you.

  • 3 Agreement Acceptance & Pay-out
    Upon acceptance of your finance agreement, they pay us within 24 hours a set percentage of the solar system’s quote, after the installation is done and you as the client is happy with the installation they will pay us the outstanding amount.

Additional solar PV incentives

There are a number of incentives associated with solar PV that make them an attractive option especially for businesses but also residential properties. Here are some of them summarized:

  • Feed-in tariffs
    Customers are ‘paid’ for any electricity they feed onto the grid (if your local municipality permits it), through reductions in their energy bills.
  • Tax benefit (12i):
    Tax allowance incentive designed to support greenfield and brownfield investments through support for both capital investment and training.
  • Pay less carbon tax
    As a low carbon energy source, solar PV will reduce the impact of the impending national carbon tax on businesses.
  • Tax benefit (12b)
    100% accelerated depreciation in the first financial year. In effect, it equates to a 28% discount on the price of the solar system.
  • Solar PV is VAT deductible
    VAT registered entities can deduct the VAT portion of the solar PV system.
  • Green Tourism Incentive Programme
    Small and micro tourism businesses can qualify for up to R1m in grants when they switch to renewable energy sources.
Grid-tie solar solution icon
Grid-tie Solar System
Off-grid solar solution icon
Off-grid Solar System
Hybrid solar solution icon
Hybrid Solar System
UPS System Solution
UPS System