Page 36 - Silver Lakes August 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, power supplies, and of the importance of
and increasing electricity costs, including consistent power supply, long- taking reasonable precautions – which is a
Wpeople have become ever more term electricity cost reduction, and a requirement on your insurance policy.
despondent. But there’s a small light at the reduced carbon footprint. Additionally,
end of the country’s energy crisis tunnel – installing solar panels can increase the To ensure a safe and reliable solar
solar (at least, for those who can afford it). resale value of a property by between 4% installation, Olyott advises homeowners to
and 8%. take the following steps:
Motivated by a global drive towards
renewable energy and with a local To further incentivise solar adoption, • Use licensed/accredited suppliers
electricity supply that is unreliable and Finance Minister Enoch Godongwana and contractors for the purchase and
increasingly expensive, many residents are announced a 25% tax rebate on the cost installation of solar power systems.
joining the energy revolution and switching of new PV rooftop solar panels, up to a • Only allow certified electricians to work
to the sun. maximum of R15 000, available for one on the electrical system of your home,
year from 1 March 2023 to 29 February especially when connecting external
“The cost of embracing solar energy was 2024. systems and devices to your primary
prohibitive a decade ago. However, the circuits.
steady drop in solar panel prices has While embracing solar energy presents • Ensure that the appointed contractors
resulted in the current boom in home numerous advantages, improper have undertaken an evaluation of
solar photovoltaic (PV) roof installations,” installation can lead to significant risks, the suitability of the roof to carry the
says Peter Olyott, CEO of financial services including fire hazards and potential additional weight of the solar system
provider Indwe Risk Services (Indwe). insurance claim repudiation. Indwe has being installed.
observed an increase in fire and explosion • Verify that appointed contractors
“While solar power has emerged as a viable claims, mainly due to the use of unlicensed provide proof of contractor’s liability
solution for those seeking reliable and cost- installers. The result is incorrect and insurance, with a recommended
effective energy alternatives, we urge all dangerous installations, use of poor- minimum cover limit of R10 million.
homeowners to choose reputable installers quality materials, and unsafe storage of • Keep all relevant documents, including
who adhere to industry regulations and lithium-ion batteries used with inverters. warranty documents, original purchase
ensure proper insurance coverage for the invoices, and signed contracts.
safety and protection of your property,” It is vital that you are aware of the risks • Obtain a Certificate of Compliance
says Olyott. that come with installing alternative (CoC) and ensure compliance with the

34 | INTRAMUROS AUGUST 2023