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08Sep 2016

The low down on powering up your home

The low down on powering up your home

Remember when electricity didn’t cost an arm and a leg? Seriously, electricity has started taking a heftier chunk out of our budgets than ever before.

Sure, you can go for the quick fix and invest in a generator, but this isn’t your only option and it probably isn’t your best long-term solution. At King Price we’re all about finding ways to make your life better and now, we’ve got the low down on how to power up your home with the most renewable energy source available… Solar power.

To help you see what will work for you, we’ve got all that you need to know about the different kinds of solar products, costs, the installation, and benefits.

Weighing up the benefits

Firstly, you can literally save 1000s on your electricity costs over the years. And you don’t have to wait long to save. You could save up to 60% on your electricity bill from the very first day.

Speaking of the financial benefits, let’s not forget that solar technology adds oh so much more to the value of your property, which is a huge win.

Not swayed by money alone? Well then you might be interested to know that you can significantly lower your carbon footprint, which does all sorts of wonderful things for the environment.

There’s also the benefit of this being a fuss-free venture, because solar systems require very little maintenance.

The 3 types of systems & the costs

  1. First up we have the off-grid system.

This will cost you around R250,000 for a home that uses 10kW/h a day. Why so much? Well, you’re basically replacing the national power grid with your own grid using a battery inverter and batteries. This allows solar power to go into your system, some to be used and some to be stored. And when bad weather prevails? The large battery storage capacity gives you around a 2-day supply, while a back-up power supply is also connected and used to charge the batteries when there isn’t enough sun.

  1. Your 2nd option is the grid-tied system.

At around R50,000 for a 1.5kW system, including installation, it’s the cheapest and most cost effective solar PV system. Basically, it generates some of your electricity, so you use what you can, buy what you need, and sell the leftovers.

  1. The 3rd option is the grid-tied system with a battery back-up.

This can cost around R85,000 for a 1.5kW system, which includes installation. By adding a battery back-up to a grid-tied system you’ll get power during load shedding and increase your savings by using electricity that’s generated, even when the sun is no longer available.

Looking at the installation

There’s no 2 ways about it. Installation is a complicated and expensive process. You need a reputable installer, 1 who can provide excellent references and a warranty.

South Africa has 1 of the world’s highest levels of solar radiation, which is used to generate either heat or electricity, both of which can then be used to significantly reduce the amount of electricity you buy. So it makes sense that if going this route will save you around 60% from the very first day, then you can safely assume that you’ll start being able to pay the costs of your installation within 3 years of making your solar investment. If that isn’t enough to help you budget for this investment, then it’s worth considering the fact that most installation companies offer various financing options.

Solar technology is a ground-breaking innovation that brings down your costs, much like our ground-breaking, super cheap car insurance premiums that decrease monthly to correspond with the depreciating value of your car. We also give you the freedom to choose the excess that best suits your budget. Remember, the higher the excess, the lower your monthly premium!