Frequently asked questions

Switch and become a part of a renewable power revolution. By switching to solar you not only help protect the environment but also make huge savings.

Application phase

Will I be assigned a personal account manager?

Yes! Once we receive your completed application a Versofy account manager will be assigned to you to manage your application and customer experience.

How long does the application process take?

Once we have received your application our credit team will make a decision based on your credit score and any additional documents they require. We generally need (maximum) 2 business days to confirm the outcome of your application.

What documents do I need to submit with my application and why?

For induvial applications, we will always need:

A copy of your ID;
Your utility bill if you own the property or your landlord details if you don’t; and
A bank confirmation letter of the account in your name to be debited.

Our credit team will also generally require 3 months’ pay slips and 3 months of bank statements.

The document requirements for businesses vary and your account manager will let you know what the credit team requires to process your business’s application.

Will my application be approved?

This depends on your credit score and other factors that the credit team takes into account such as, your existing debt levels and usage thereof as well as how you conduct your historical and existing accounts held on credit.

If you have a judgment or a blacklisting, then it is likely that your application will be declined. If you have proof of payment of either a judgment or a default listed, please give this documentation to your account manager at the start of your application process.

Why was my application declined because of my credit score?

Our credit team works off a scoring model and if your credit score is below a certain threshold, then your application may be declined.

If you believe that there is a mistake relating to your credit score or additional information that we may not have, please give this information/documentation to your account manager at the start of your application process.

If my application was declined, can my partner/spouse also apply?

Yes! Of course. You may also apply jointly.

If I am supported by someone else financially, can I still apply?

Yes! Of course. You may also apply jointly with such person who supports you.

Can I apply if I am over 75 years old?

Yes, but you will need to apply jointly with someone younger than you. This can be your partner, spouse or child.

Installation phase

Who will install my solar solution?

We have a handful of approved installers as well as our own internal teams. We will only work with reputable and reliable installers. Once you have been approved an installer will be allocated to your project. Your account manager will advise you, in advance, who will be installing your solar solution.

How long does my installation take?

Depending on the size of the project, but generally maximum 2 to 3 days.

What happens during a solar installation?

The installation team allocated to your project will communicate their process to you and minimize any disruption to your home.

The solar solution

What components will my solution typically consist of?

An inverter, a battery (or batteries) and solar panels.

There will be additional custom components and accessories required depending on your home or business premises.

Are these components under warranty?

Yes, the inverters, batteries, and panels are all under warranty.

What happens if the solution or one of its components is defective?

You’ll need to notify the Versofy support team as soon as possible. If the defect is covered by the warranty, we will replace the defective component and claim under the warranty and install a replacement unit.

If the defect has arisen due to a fault by you or negligence by you then you will likely be liable to pay for the damage caused to the system.

If you have a Versofy CARE package you will be able to contact Versofy 24/7 to arrange a call out or ask any questions related to your system.

Can my system take me 100% off-grid?

The optimization and effectiveness of the system comes down to your consumption behavior. The installer will discuss your system requirements with you during the needs analysis phase of the process. One of the main advantages of solar is that it is built in a modular fashion. Meaning that you are able to add both panels and storage (batteries) to your system in order to fit your requirements.

Installation phase

Who will install my solar solution?

How long does my installation take?

Depending on the size of the project, but generally maximum 2 to 3 days.

What happens during a solar installation?

The installation team allocated to your project will communicate their process to you and minimize any disruption to your home.

The solar solution

What components will my solution typically consist of?

An inverter, a battery (or batteries) and solar panels.

There will be additional custom components and accessories required depending on your home or business premises.

Are these components under warranty?

Yes, the inverters, batteries, and panels are all under warranty.

What happens if the solution or one of its components is defective?

If the defect has arisen due to a fault by you or negligence by you then you will likely be liable to pay for the damage caused to the system.

If you have a Versofy CARE package you will be able to contact Versofy 24/7 to arrange a call out or ask any questions related to your system.

Can my system take me 100% off-grid?

SaaS

1. Can I cancel my rental contract before the end of the contract term?

You have the option to cancel your contract early, but there are important factors to consider.

The Consumer Protection Act allows for cancellation with 20 business days’ written notice. However, you’ll likely be responsible for:

Early termination fees: These may include outstanding account balances, the remaining value of the lease agreement (calculated as the Net Present Value of future rentals), and potentially an early termination interest charge.
Equipment removal costs: We’ll need to remove the solar panels and system components from your property.

To minimize potential fees, it’s highly recommended to discuss your situation with a Versofy representative. They can explain your options in detail, calculate any estimated early termination fees, and explore alternative solutions that might be more suitable for your needs.

2. What will the early cancellation fee payable be if I choose to cancel my contract?

Understanding Early Termination Fees:

If you decide to cancel your solar rental agreement before the end of the contract term, there may be an early termination fee associated with de-installing the system from your property. Here’s how it breaks down:

First 36 Months: For cancellations within the first 36 months of your contract, you’ll be responsible for a de-installation fee. This fee is calculated as the higher of two amounts:
- R20,000.00 (a flat fee)
- 40% of the remaining subscription fees (based on the remaining months in your contract)
After 36 Months with 90 Days’ Notice: The good news is that if you’ve completed the initial 36 months of your contract and provide us with 90 days’ written notice to cancel, the de-installation fee is waived!

We understand that situations change, and we’re here to help! If you’re considering early termination, we highly recommend contacting a Versofy representative. They can:

Explain your options in detail: They’ll walk you through the early termination process and outline any associated costs.
Calculate a personalized estimate: They can provide an estimate of your potential de-installation fee based on your specific contract details.
Explore alternative solutions: They might be able to suggest alternative solutions that could better suit your needs and potentially avoid early termination fees.

3. What options do I have if I move or sell my house?

Selling your house doesn’t have to disrupt your solar journey! Here are two options to consider as a seller:

System Removal and De-installation Fee: We’ll carefully uninstall the solar system from your property. In this case, you’ll be responsible for the de-installation fee (as outlined in our agreement).
Transfer the Agreement: With approval from our credit team, the new homeowner can take over your existing solar rental agreement. This allows them to enjoy the benefits of solar power without needing a new installation. We’ll guide you through the transfer process to ensure a smooth transition for both parties.
Re-install: If your new property is suitable for solar power, you can explore moving the system. This would involve a separate removal and reinstallation fee.

Whichever option you choose, Versofy is here to help! We recommend contacting a Versofy representative to discuss your specific situation and explore the best course of action for you. They can be reached at 010 541 2441 or sales@versofy.com

4. Who is responsible for the maintenance and monitoring of the system?

Versofy takes care of all system maintenance and monitoring throughout your rental contract! This includes:

Regularly scheduled maintenance to ensure optimal performance.
Remote monitoring to identify and address any potential issues promptly.

You’re responsible for some basic upkeep to ensure optimal solar production:

Keeping panels clear: Please remove any obstructions like leaves, branches, or debris that might block sunlight from reaching the panels.
Protecting equipment: Ensure the battery and inverter unit are located in a clean, dry, and well-ventilated area.

If you notice any concerns or need assistance, don’t hesitate to contact the Versofy support team! We’re here to help you maximize the benefits of your solar system. You can reach us at 010 541 2441 or sales@versofy.com

5. Who is responsible for the insurance of the system?

Versofy handles the insurance of the solar system for the entire contract term! This means you don’t need to worry about adding it to your existing homeowner’s insurance.

For more details on the specific insurance coverage:

Talk to a Versofy Representative: Our representatives can answer any questions you might have about the insurance policy and its terms.
Click the link: (Versofy Client Policy) Policy This link will take you to a page outlining the insurance coverage for Versofy solar rentals.

We recommend both options to ensure you have a complete understanding of the insurance coverage for your peace of mind.

6. Are the subscription fees linked to Prime and VAT fluctuations?

Our subscription rates are transparent and reflect changes in government-regulated fees like VAT (Value Added Tax) and the Prime Lending Rate.

What does this mean for you? In most cases, these rates remain relatively stable. However, if there are significant fluctuations, your subscription fees may adjust accordingly.
Benefits of transparency: We believe in upfront communication. By linking our rates to these external factors, you can be confident that your subscription reflects the current economic climate.

Here’s what stays the same:

Predictable budgeting: We provide clear pricing structures so you can plan your monthly expenses effectively.
Focus on savings: Overall, solar power can significantly reduce your electricity costs compared to traditional grid reliance.

7. What happens if my solar system has issues?

Don’t worry! We’ve got you covered.

If you notice any issues with your solar system during the contract term, simply contact the Versofy support team as soon as possible. We’re available to help you troubleshoot and get your system back up and running quickly.

Here’s what to expect:

Our friendly support team will answer your questions and diagnose the problem.
If a component needs replacing and it’s a factory or installation fault, we’ll handle everything. We’ll replace the part and ensure a smooth process.
Our goal is to minimize downtime and ensure you continue enjoying the benefits of solar power.

Here are some ways to reach us:

Phone: 010 541 2441
Email: sales@versofy.com

We recommend having your contract handy when contacting support, as it will contain details about your specific warranty coverage.

8. Can I buy the system from Versofy? At what stage of the contract can I do this?

Absolutely! You have the flexibility to purchase the solar system and enjoy long-term ownership benefits at any point during your contract term.

Here’s how it works:

Simply notify us 90 days in advance: Letting us know your intention to buy with 90 days’ written notice allows for a smooth transition.
We’ll determine the Fair Market Value: We’ll provide a fair and competitive price for the system based on its current market value.
Ownership transfer upon payment: Once you complete the payment for the Fair Market Value, the ownership of the system will be transferred to you.

Thinking about buying? Contacting a Versofy representative is a great first step! They can:

Answer any questions you have about the purchase process.
Provide an estimated timeframe for the ownership transfer.
Discuss the potential financial benefits of system ownership.

9. What does ‘Fair Market Value’ Mean?

‘Fair market value’ essentially means getting a fair price for the solar system.

Imagine you’re selling a car. You wouldn’t want to sell it for way less than it’s actually worth, and the buyer wouldn’t want to overpay. Fair market value considers what similar solar systems are currently selling for in today’s market.

Here at Versofy, we’re committed to transparency. When you decide to purchase your system, we’ll use established industry standards to determine a fair market value that reflects the system’s current worth.

We believe this approach benefits everyone! You can be confident you’re getting a good deal, and we ensure the value of our systems is recognized.

10. Am I able to upgrade my system during my subscription?

Absolutely! We understand your energy needs might change. During your subscription, you have the flexibility to upgrade your system by adding more panels or components.

Here’s how it works:

Contact the Versofy support team: Our knowledgeable representatives can discuss your specific needs and recommend the most suitable upgrade options.
We’ll work with you to create a customized plan: This plan will outline the additional equipment, potential adjustments to your subscription, and ensure a seamless upgrade process.

Upgrading your solar system can bring several advantages:

Increased energy production: With more panels or components, you can generate more solar power to meet your growing needs.
Reduced reliance on the grid: A more powerful system can decrease your dependence on traditional electricity, potentially leading to even greater cost savings.
Future-proof your investment: Upgrading now can ensure your solar system continues to meet your energy demands for years to come.

Rent To Own

1. Can I cancel my rental contract before the end of the contract term?

Absolutely! We understand situations change, and we offer two options for early termination of your solar rental contract:

90-Day Notice: You can provide written notification 90 days in advance of your desired cancellation date. We will then arrange equipment removal at your convenience. Please note: Any capital contributions made towards the system will not be refunded under this option.
Early Settlement: If you’d prefer to own the system outright, you can request a settlement letter outlining the buyout cost. This allows you to enjoy the long-term benefits of solar ownership.

We recommend discussing your options with a Versofy representative to determine the best course of action for your specific situation. They can be reached at 010 541 2441 or sales@versofy.com.

Here are some additional things to consider when making your decision:

Remaining Contract Term: How much time remains on your current contract?
Capital Contributions: Have you made any upfront payments towards the system?
Future Plans: Do you plan to stay in the property long-term?

We’re here to help you make an informed decision!

2. What will the early settlement fee payable be if I choose to settle my contract?

The settlement fee for an early buyout of your solar rental contract consists of three parts:

Outstanding Balance: This includes any past-due rental payments on your account.
Remaining Lease Value: We calculate this by determining the Net Present Value (NPV) of the remaining rental payments in your contract. Essentially, this reflects the total value of the future rental income brought to today’s value.
Early Termination Interest: This is a charge of 90 days’ interest on the outstanding capital amount (balance owed on the system).

To get an estimate of your settlement fee, we recommend contacting a Versofy representative. They can access your specific contract details and provide a personalized breakdown of the costs involved. They can be reached at 010 541 2441 or sales@versofy.com.

Here are some additional benefits of contacting a Versofy representative:

Discuss your options: They can explain the pros and cons of early termination vs. continuing your rental agreement.
Explore buyout options: They can answer any questions you have about purchasing the system outright.
Get a tailored quote: They can provide a specific settlement fee estimate based on your unique situation.

We’re here to help you make an informed decision about your solar investment!

3. What options do I have if I move or sell my house?

Transfer the Agreement: With approval from our credit team, the new homeowner can take over your existing solar rental agreement. This allows them to enjoy the benefits of solar without needing a new installation. We’ll guide you through the transfer process to ensure a smooth transition.
Sell with Solar: You can choose to include the remaining lease payments in your property’s selling price. This can be an attractive selling point for potential buyers interested in the cost savings and environmental benefits of solar power.
Re-install: If your new property is suitable for solar power, you can explore moving the system. This would involve a separate removal and reinstallation fee.

Here are some additional details to consider:

Transferring the Agreement: The new homeowner will undergo a credit check to ensure they meet our eligibility criteria.
Selling with Solar: Be sure to disclose the solar lease agreement to potential buyers.

We’re committed to making your transition as smooth and convenient as possible!

4. Who is responsible for the maintenance and monitoring of the system?

Versofy takes care of all system maintenance and monitoring throughout your rental contract! This includes:

Regularly scheduled maintenance to ensure optimal performance.
Remote monitoring to identify and address any potential issues promptly.

You’re responsible for some basic upkeep to ensure optimal solar production:

Keeping panels clear: Please remove any obstructions like leaves, branches, or debris that might block sunlight from reaching the panels.
Protecting equipment: Ensure the battery and inverter unit are located in a clean, dry, and well-ventilated area.

5. Who is responsible for the insurance of the system?

Versofy handles the insurance of the solar system for the entire contract term! This means you don’t need to worry about adding it to your existing homeowner’s insurance.

For more details on the specific insurance coverage:

Talk to a Versofy Representative: Our representatives can answer any questions you might have about the insurance policy and its terms.
Click the link: (Versofy Client Policy) This link will take you to a page outlining the insurance coverage for Versofy solar rentals.

We recommend both options to ensure you have a complete understanding of the insurance coverage for your peace of mind.

6. Are the subscription fees linked to Prime and VAT fluctuations?

Our subscription rates are transparent and reflect changes in government-regulated fees like VAT (Value Added Tax) and the Prime Lending Rate.

What does this mean for you? In most cases, these rates remain relatively stable. However, if there are significant fluctuations, your subscription fees may adjust accordingly.
Benefits of transparency: We believe in upfront communication. By linking our rates to these external factors, you can be confident that your subscription reflects the current economic climate.

Here’s what stays the same:

Predictable budgeting: We provide clear pricing structures so you can plan your monthly expenses effectively.

Focus on savings: Overall, solar power can significantly reduce your electricity costs compared to traditional grid reliance.

7. What happens if my solar system has issues?

Don’t worry! We’ve got you covered.

Here’s what to expect:

Our friendly support team will answer your questions and diagnose the problem.
If a component needs replacing and it’s a factory or installation fault, we’ll handle everything. We’ll replace the part and ensure a smooth process.
Our goal is to minimize downtime and ensure you continue enjoying the benefits of solar power.

Here are some ways to reach us:

Phone: 010 541 2441
Email: sales@versofy.com

We recommend having your contract handy when contacting support, as it will contain details about your specific warranty coverage.

8. Do I automatically own the system at the end of the contract term?

Ownership of the solar system doesn’t automatically transfer at the end of the rental contract.

Since it’s a rental agreement, you’re essentially renting the system for the contract term.

Here’s the good news:

We offer a path to ownership: At the end of your contract term, we’ll present you with an opportunity to purchase the system outright. This cost is typically equivalent to one additional rental payment. This allows you to own the equipment and enjoy the long-term financial benefits of solar power generation.

Thinking about buying? Simply contact the Versofy support team, and we can guide you through the purchase process. We’ll create a separate contract outlining the ownership transfer details.

9. Am I able to upgrade my system during my subscription?

Absolutely! We understand your energy needs might change. During your subscription, you have the flexibility to upgrade your system by adding more panels or components.

Here’s how it works:

Contact the Versofy support team: Our knowledgeable representatives can discuss your specific needs and recommend the most suitable upgrade options.
We’ll work with you to create a customized plan: This plan will outline the additional equipment, potential adjustments to your subscription, and ensure a seamless upgrade process.

Upgrading your solar system can bring several advantages:

Increased energy production: With more panels or components, you can generate more solar power to meet your growing needs.
Reduced reliance on the grid: A more powerful system can decrease your dependence on traditional electricity, potentially leading to even greater cost savings.
Future-proof your investment: Upgrading now can ensure your solar system continues to meet your energy demands for years to come.

Rent To Own

1. Can I cancel my rental contract before the end of the contract term?

Absolutely! We understand situations change, and we offer two options for early termination of your solar rental contract:

90-Day Notice: You can provide written notification 90 days in advance of your desired cancellation date. We will then arrange equipment removal at your convenience. Please note: Any capital contributions made towards the system will not be refunded under this option.
Early Settlement: If you’d prefer to own the system outright, you can request a settlement letter outlining the buyout cost. This allows you to enjoy the long-term benefits of solar ownership.

We recommend discussing your options with a Versofy representative to determine the best course of action for your specific situation. They can be reached at 010 541 2441 or sales@versofy.com.

Here are some additional things to consider when making your decision:

Remaining Contract Term: How much time remains on your current contract?
Capital Contributions: Have you made any upfront payments towards the system?
Future Plans: Do you plan to stay in the property long-term?

We’re here to help you make an informed decision!

2. What will the early settlement fee payable be if I choose to settle my contract?

The settlement fee for an early buyout of your solar rental contract consists of three parts:

Outstanding Balance: This includes any past-due rental payments on your account.
Remaining Lease Value: We calculate this by determining the Net Present Value (NPV) of the remaining rental payments in your contract. Essentially, this reflects the total value of the future rental income brought to today’s value.
Early Termination Interest: This is a charge of 90 days’ interest on the outstanding capital amount (balance owed on the system).

Here are some additional benefits of contacting a Versofy representative:

Discuss your options: They can explain the pros and cons of early termination vs. continuing your rental agreement.
Explore buyout options: They can answer any questions you have about purchasing the system outright.
Get a tailored quote: They can provide a specific settlement fee estimate based on your unique situation.

We’re here to help you make an informed decision about your solar investment!

3. What options do I have if I move or sell my house?

Transfer the Agreement: With approval from our credit team, the new homeowner can take over your existing solar rental agreement. This allows them to enjoy the benefits of solar without needing a new installation. We’ll guide you through the transfer process to ensure a smooth transition.
Sell with Solar: You can choose to include the remaining lease payments in your property’s selling price. This can be an attractive selling point for potential buyers interested in the cost savings and environmental benefits of solar power.
Re-install: If your new property is suitable for solar power, you can explore moving the system. This would involve a separate removal and reinstallation fee.

Here are some additional details to consider:

Transferring the Agreement: The new homeowner will undergo a credit check to ensure they meet our eligibility criteria.
Selling with Solar: Be sure to disclose the solar lease agreement to potential buyers.

We’re committed to making your transition as smooth and convenient as possible!

4. Who is responsible for the maintenance and monitoring of the system?

Versofy takes care of all system maintenance and monitoring throughout your rental contract! This includes:

Regularly scheduled maintenance to ensure optimal performance.
Remote monitoring to identify and address any potential issues promptly.

You’re responsible for some basic upkeep to ensure optimal solar production:

Keeping panels clear: Please remove any obstructions like leaves, branches, or debris that might block sunlight from reaching the panels.
Protecting equipment: Ensure the battery and inverter unit are located in a clean, dry, and well-ventilated area.

5. Who is responsible for the insurance of the system?

Versofy handles the insurance of the solar system for the entire contract term! This means you don’t need to worry about adding it to your existing homeowner’s insurance.

For more details on the specific insurance coverage:

Talk to a Versofy Representative: Our representatives can answer any questions you might have about the insurance policy and its terms.
Click the link: (Versofy Client Policy) This link will take you to a page outlining the insurance coverage for Versofy solar rentals.

We recommend both options to ensure you have a complete understanding of the insurance coverage for your peace of mind.

6. Are the subscription fees linked to Prime and VAT fluctuations?

Our subscription rates are transparent and reflect changes in government-regulated fees like VAT (Value Added Tax) and the Prime Lending Rate.

What does this mean for you? In most cases, these rates remain relatively stable. However, if there are significant fluctuations, your subscription fees may adjust accordingly.
Benefits of transparency: We believe in upfront communication. By linking our rates to these external factors, you can be confident that your subscription reflects the current economic climate.

Here’s what stays the same:

Predictable budgeting: We provide clear pricing structures so you can plan your monthly expenses effectively.

Focus on savings: Overall, solar power can significantly reduce your electricity costs compared to traditional grid reliance.

7. What happens if my solar system has issues?

Don’t worry! We’ve got you covered.

Here’s what to expect:

Our friendly support team will answer your questions and diagnose the problem.
If a component needs replacing and it’s a factory or installation fault, we’ll handle everything. We’ll replace the part and ensure a smooth process.
Our goal is to minimize downtime and ensure you continue enjoying the benefits of solar power.

Here are some ways to reach us:

Phone: 010 541 2441
Email: sales@versofy.com

We recommend having your contract handy when contacting support, as it will contain details about your specific warranty coverage.

8. Do I automatically own the system at the end of the contract term?

Ownership of the solar system doesn’t automatically transfer at the end of the rental contract.

Since it’s a rental agreement, you’re essentially renting the system for the contract term.

Here’s the good news:

We offer a path to ownership: At the end of your contract term, we’ll present you with an opportunity to purchase the system outright. This cost is typically equivalent to one additional rental payment. This allows you to own the equipment and enjoy the long-term financial benefits of solar power generation.

Thinking about buying? Simply contact the Versofy support team, and we can guide you through the purchase process. We’ll create a separate contract outlining the ownership transfer details.

9. Am I able to upgrade my system during my subscription?

Absolutely! We understand your energy needs might change. During your subscription, you have the flexibility to upgrade your system by adding more panels or components.

Here’s how it works:

Contact the Versofy support team: Our knowledgeable representatives can discuss your specific needs and recommend the most suitable upgrade options.
We’ll work with you to create a customized plan: This plan will outline the additional equipment, potential adjustments to your subscription, and ensure a seamless upgrade process.

Upgrading your solar system can bring several advantages:

Increased energy production: With more panels or components, you can generate more solar power to meet your growing needs.
Reduced reliance on the grid: A more powerful system can decrease your dependence on traditional electricity, potentially leading to even greater cost savings.
Future-proof your investment: Upgrading now can ensure your solar system continues to meet your energy demands for years to come.

My monthly payments

How are the rental payments and subscription fees collected?

By way of debit order only. We do not accept EFT payments.

What narration will appear on my bank statement when Versofy debits my account?

They will be Versofy and your account number. If however it says Redtree, please do not panic. Sometimes the bank gets confused between Versofy and our asset-based finance and sister company. We assure you that your payment will be allocated to the correct account.

What happens if I miss a payment?

Please immediately contact the accounts department on accounts@versofygreen.com or 087 310 5857.

If you know that there will be an issue with the collection of the rental or fee collection, then it’s best to let us know in advance.

Please note that penalty interest is charged on accounts in arrears and you will be charged an unpaid debit order fee if the debit order bounces.

What happens if I sell my property?

You will have to pay a de-installation fee in order to get the system removed from your property. Alternatively, you may purchase the system at fair market value based on the remaining term of your agreement.

Who is responsible for the maintenance and monitoring of the solar system?

We are. You are responsible to perform general maintenance on the system for example ensuring the panels are not obstructed by buildings, structures, trees, hedges or that the place where the batteries and inverter is kept remains dry etc.

If you need maintenance or monitoring on the system, then please contact the Versofy support team as soon as possible.

Who do I contact if I can any other account queries?

Please contact the accounts department on accounts@versofygreen.com or 087 310 5857.

Are there any additional fees to be aware of?

All contracts have an applicable R 5000 activation fee which covers the Certificate of Compliance, and document initiation fees. The installer may require additional cabling or structure changes, but this will be disclosed upfront.

Please note that you are obligated to insure the solution. This is not a Versofy fee but is important to note that you will need to make payment of the insurance premiums over and above the rentals or subscription fees.