FAQ’s

We have compiled the most frequently asked questions about our solar solutions to help you get the most out of your service.

APPLICATION PHASE

1. 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.

2. How long does the application process take?

The application link is below and will only take you a few minutes to complete:

Individual – Solar Subscription Application

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.

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

For induvial applications, we will always need:

  1. A copy of your ID;
  2. Your utility bill if you own the property or your landlord details if you don’t; and
  3. 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.

4. 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.

5. 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.

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

Yes! Of course. You may also apply jointly.

7. 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.

8. Can I apply if I am over 70 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

1. 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.

2. How long does my installation take?

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

3. What happens during a solar installation?

The installation team allocated to your project will communicate their process to you and try as best they can to minimize any disruption to your home. Please ensure that you communicate your needs to them in advance in order to make the process as quick and smooth as possible.

THE SOLAR SOLUTION

1. 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.

2. Are these components under warranty?

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

Below are some quick links to check the specific warranties on some of the trusted components we install.

3. 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.

4. 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.

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COMMON CONTRACT FAQ’S

RENTAL CONTRACT WITH AN OWNERSHIP OFFER AT THE END OF THE TERM:

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

Yes, you can cancel the agreement at any time, on 20 days’ notice, in terms of the Consumer Protection Act.

2. What will the settlement fee payable be if I cancel my contract early?
  • If you do cancel before the end of the agreed rental term, then please note that you shall be liable to pay Versofy:

    1. All arrears on the account, if any;
    2. The outstanding capital on the agreement, being the Net Present Value of the remaining rentals until the end of the agreed term; and
    3. 90 days’ interest on the capital outstanding.

    Please refer to clause 4.6 of the contract.

3. Can I settle my contract early and take ownership before the end of the term?

Yes. Please contact the Versofy support team if you’d like to do this.

Please let us know if you would like to take ownership of the solar solution on payment of the amounts detailed in point 9.a to 9.c above. We will then put the amounts owing on an invoice for you.

Please note that this option is only available if you are not in breach of your contract.

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

You may request to add the outstanding rentals to the selling price of the property and the new owner will simply inherit the solution with the property; or

The buyer of the property may, subject to our credit team’s assessment, request to take over of the agreement. If this is approved, then your agreement will simultaneously cancel on our signature of the agreement in the property buyer’s name.

5. 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.

6. Who is responsible for the insurance of the solar system?

You are. The cheapest way to insure the solution is to add it onto your building insurance.

7. Are the subscription fees linked to changes in the Prime and VAT rates? What does that mean?

Yes, they are.

This means that if the Prime or VAT rate goes up then your rentals will go up. In the same breath, if the Prime or VAT rate goes down the rentals will go down.

Please refer to clause 5.11 of the contract.

8. What happens if my solution has issues?

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.

9. What happens when I reach the end of my contract?

You have the following options at the end of the term:

  1. We will make an undertaking to offer you ownership of the system after the end of the period, you may elect to accept this offer.

We will then invoice you for the amount equivalent to 1 rental payment and on payment ownership of the solution will be transferred to you. This will be a separate contract of sale.

  1. You can upgrade your System, and continue to rent; or
  2. You can cancel the contract and we will come and collect the System.
10. Do I automatically get ownership of my solution at the end of the contract period?

No. You are signing a rental contract and not a finance contract. Ownership does not transfer to you at any stage during or after the contract automatically.

If you’d like to purchase the solution at any stage, please contact the Versofy support team and we can enter into a separate contract of sale in respect of the solution.

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

Yes, you are able to add-on or upgrade at any time. Please contact the Versofy support team if you’d like to enquire about an add-on or upgrade.

SOLAR AS A SERVICE AGREEMENT (SaaS)

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

Yes, you can cancel the agreement at any time, on 20 days’ notice in terms of the Consumer Protection Act.

2. What will I have to pay if I cancel my contract early?

You will need to pay the de-installation fee.

If the first 36 months, the de-installation fee shall be the higher of R 20 000.00 or 40% of the remaining subscription fees.

After 36 months and if you give us 90 days’ notice of your intention to cancel then the de-installation fee will be waived. Please refer to clause 18.2 of the contract.

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

We will come and uninstall the solution, and you will be liable for the de-installation fee (we suggest you add this fee to the selling price of your home), OR

The buyer of the property may, subject to our credit team’s assessment, request to take over the agreement. If this is approved, then your agreement will simultaneously cancel on our signature of the agreement in the property buyer’s name.

4. 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.

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

You are. The cheapest way to insure the solution is to add it onto your building insurance.

6. Are the subscription fees linked to changes in the Prime and VAT rates? What does that mean?

Yes, they are.

This means that if the Prime or VAT rate goes up then your rentals will go up. In the same breath, if the Prime or VAT rate goes down the rentals will go down.

Please refer to clause 4.12 of the contract.

7. What happens if my solution has issues?

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.

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

Yes, you have a purchase option to buy the solution at any time during the contract. You need to give us 90 days’ notice of your intention to buy.

We will offer you ownership for the system on payment of the Fair Market Value for the system.

9. What does “Fair-market” value mean?

Fair market value is “the price a product would sell for on the open market assuming that both buyer and seller are reasonably knowledgeable about the asset, are behaving in their own best interests, are free of undue pressure, and are given a reasonable time period for completing the transaction.”

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

Yes, you are able to add-on or upgrade at any time. Please contact the Versofy support team if you’d like to enquire about an add-on or upgrade.

MY MONTHLY PAYMENTS

1. How are the rental payments and subscription fees collected?

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

2. 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.

3. 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.

4. 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.

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

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

6. 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.

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