Can I save Money by Renting a Solar System For My Home?

With load shedding being minimal throughout 2024 and Eskom managing to pull off some surprising improvements, many homeowners are wondering if it’s still worth getting solar. A common question is: How much can I save on my electricity bill if I rent a solar system, and can the savings even exceed the monthly rental cost?

How Much Can You Save with Solar?

Let’s break it down by considering a typical solar setup—11 solar panels at 450W each, totalling a 5kW system. How much can this setup save you, and is it possible to save more than the cost of renting the system?

A 5kW solar system can generate around 23kWh per day or approximately 700kWh per month in sunny regions like Gauteng. Assuming your household can use all the solar electricity produced, the savings will vary based on your electricity tariff structure.

Potential savings in Gauteng with a 5kW solar solution

Now, we won’t dive deep into the complexities of tariffs, but here’s the key takeaway: depending on where you live, you’ll pay between R3.57 and R4.30 per kWh. Eskom direct customers pay the highest rate, while City of Johannesburg customers pay the lowest (though they also face the highest fixed connection fees). Given these rates, a 5kW system could save you between R2,495 and R3,158 per month on electricity.

Is Renting a Solar System Worth It?

To put it simply, as of the time of writing, Metrowatt rents out 5kW solar systems with backup batteries starting at R1,829 per month. This means you can absolutely save more on your electricity bill than what it costs to rent the system. Your net savings is expected to increase further year after year as Eskom increases electricity prices. Plus, with a solar solution you’ll have the added benefit of backup power if load shedding returns or if your area experiences outages.

Ready To Start Saving Money on Your Electricity Bill?

Ready to start saving? Speak to one of our Metrowatt Solar Consultants today to design the right solution for your home and help you to get the most out of it.

Get a quote in 60 seconds and find out how much you can save!

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