Households can now apply for a R300,000 loan for rooftop solar

VAAL TRIANGLE - Vaal Triangle and other SA households can now apply for a maximum loan amount of R300,000 to purchase rooftop solar. This as government yesterday officially launched the long-awaited energy bounce-back loan scheme for solar. It was first announced by President Cyril Ramaphosa in his State of the Nation Address. The scheme is aimed at small businesses and households to have the finances to invest in solar equipment, in order to overcome loadshedding. The minister of Finance, Enoch Godongwana, in his budget speech indicated that government would carry 20% of the loss on defaulted loans. Along with households that can apply for a loan, businesses in the rooftop solar supply chain can also borrow up to R100-million for working capital. The scheme aims to add 1,000 megawatt in additional generation capacity over the next 12 months.

PHOTO: (Supplied)