Solar loan application

[Isetech]

So I applied for a solar loan for the business, received all the documents and the costs, that when I started thinking it might be better to rather go small and build it up as I can afford.

The application was for R250 000, the bank came back and said sorry for you, we can only offer a R130 000.

The interest on the revolving credit is R75 000, by the time I finish paying back the money, I would have paid back over R200 000.

The load repayment is R3600 per month for 60 months.

At the rate things are going, do you really think there would be any ROI.

I just cant see it as being an investment.

What do you think good investment?

Once the system is registered and the monthly utility fee is added ( around R1200) , I could save around between R500 and R1000 per month.

It just doesn't make sense, unless you dont register the system and have one of those special meters.

[Isetech]

The way I see it, if this was a loan for solar on my house, then it just doesn't make sense.

However because it is a business loan for a system installed for the business, then it makes sense, due to the tax benefits.

Will there be load shedding after the 30 May, I believe there will be (not just because I install solar system) but because they need to fix Eskom first and that is going to take a while.