Page 24 - FWG July Issue 2023

Lifestyle

INSTALLING SOLAR?

How to choose the right installer and insure your new asset

ith relentless load shedding Home solar systems offer several benefits, taking reasonable precautions – which is a
and increasing electricity including consistent power supply, long- requirement on your insurance policy.
costs, people have become term electricity cost reduction, and a
Wever more despondent. reduced carbon footprint. Additionally, To ensure a safe and reliable solar
But there’s a small light at the end of the installing solar panels can increase the installation, Olyott advises homeowners to
country’s energy crisis tunnel – solar (at resale value of a property by between 4% take the following steps:
least, for those who can afford it). and 8%.
• Use licensed/accredited suppliers
Motivated by a global drive towards To further incentivise solar adoption, and contractors for the purchase and
renewable energy and with a local electricity Finance Minister Enoch Godongwana installation of solar power systems.
supply that is unreliable and increasingly announced a 25% tax rebate on the cost • Only allow certified electricians to work
expensive, many residents are joining the of new PV rooftop solar panels, up to a on the electrical system of your home,
energy revolution and switching to the sun. maximum of R15 000, available for one year especially when connecting external
from 1 March 2023 to 29 February 2024. systems and devices to your primary
“The cost of embracing solar energy was circuits.
prohibitive a decade ago. However, the While embracing solar energy presents • Ensure that the appointed contractors have
steady drop in solar panel prices has numerous advantages, improper undertaken an evaluation of the suitability
resulted in the current boom in home installation can lead to significant risks, of the roof to carry the additional weight
solar photovoltaic (PV) roof installations,” including fire hazards and potential of the solar system being installed.
says Peter Olyott, CEO of financial services insurance claim repudiation. Indwe has • Verify that appointed contractors provide
provider Indwe Risk Services (Indwe). observed an increase in fire and explosion proof of contractor’s liability insurance,
claims, mainly due to the use of unlicensed with a recommended minimum cover
“While solar power has emerged as a viable installers. The result is incorrect and limit of R10 million.
solution for those seeking reliable and cost- dangerous installations, use of poor-quality • Keep all relevant documents, including
effective energy alternatives, we urge all materials, and unsafe storage of lithium-ion warranty documents, original purchase
homeowners to choose reputable installers batteries used with inverters. invoices, and signed contracts.
who adhere to industry regulations and • Obtain a Certificate of Compliance (CoC)
ensure proper insurance coverage for the It is vital that you are aware of the risks and ensure compliance with the latest
safety and protection of your property,” says that come with installing alternative edition of SANS, as these will be requested
Olyott. power supplies, and of the importance of during the claims process.

Fourways Gardens • 22 • July 2023