does the SRF operate?
The SRF runs
on an ownership model where individuals obtain loans to purchase
Renewable Energy Technology products by obtaining a detailed quotation
from the accredited Energy Service Providers to install the technology
at the area of choice.
can apply for an SRF Loan?
Citizens between the ages of 21-55.
person with an active bank account into which his/her monthly
or regular income is paid and with a clean credit record. Credit
references will be verified with Trans Union and CompuScan.
person who can prove 2 years of employment with the same employer/
same line of employment.
with a regular income (e.g. Farmers or small business owners)
who are able to pay 30% deposit of total loan.
loan amount: N$50,000 for Solar Water Pump, N$6,000 - N$35,000
for Solar Home System, N$30,000 for Solar Water Heaters. Solar
Cookers/Stoves, will be financed as a lumpsum with Solar Home
loan amount must not exceed a third of the applicants’s annual
loan can be repaid via debit order and payroll deduction.
5% interest is charged over the loan period of 60 months.
SRF has a pre-qualified list of registered Energy Service Providers
approved by the National Technical Committee on Renewable Energy
(NTCRE) which can be obtained from the SRF Office at the Ministry
of Mines and Energy.
forms can be obtained from the Ministry of Mines and Energy, Local
Energy Shops , Energy Service Provider and at all Regional Offices,
and can be downloded from the MME website.
Submit the completed application form together with a certified
copy of your ID and latest pay slip or proof of income. You are
also required to provide a detailed quotation from accredited
Energy Service Provider. The application will be assessed , if
successful you will be informed in writing as well as telephonically
or contacted via an Energy Service Provider to deposit 5% of quoted
price and fax proof of payment to the head office.
deposit is confirmed with the bank, SRF will issue a purchase
order to your Energy Service Provider of choice to arrange for
the system delivery and installation at your address indicated
on the application form within 14 days. You are requested to sign
the installation report, to prove that you have received the system
as per quoatation and to signify that you are satisfied with the
installation and the system is operational. Do not sign the
installation report if your system is not installed or not working.
will conduct a installation verification to ensure that your system
was installed. This is a once off activity, and will be done one
or two months after installation.
loan is granted to you, you will start paying the loan upon your
certification, after the completion of the system installation.
You will be responisble to honour the monthly installments until
full payment of the loan through debit order.
make monthly payments will result in the outstanding balance becoming
due and payable immediately. A 5% interest rate will be levied
on any overdue amount in respect of any period (s).
defaults in installments for three consecutive months may result
in legal proceedings or backlisting on Trans Union (ITC).
is provided by the Ministry of Mines and Energy. Insurance covers
only “Acts of God”, such as lightning, Flood or hail, wind as
well as damages caused by animals. Theft is not covered. An excess
fee is payable by the borrower on any claim made out to the insurer.
Applicants can obtain claim forms from the Loan Officer and should
be submited within 3 months after the damage. Client should provide
a quotation and statement made under oath from the nearest police
In case of
death, the remaining balance of the loan is written off and the
system becomes a property of the deceased’s family, provided that
a certified death certificate is submitted to the Ministry.
to repay the Loan:
repay the loan will result in terminating insurance benefits from
Clients will be charged cancellation fee , 15%
of total deposit received, upon cancelling their loans with the
After Sales Services and Warranty:
There is limited maintenance of solar systems once installed
properly. However, after sales service and warranty will be provided
by your Energy Service Provider. The Ministry will provide you
with the End-User Guide on how to take care of your system and
what to do in case of emergency. The Ministry will not be held
liable for malfunctioning systems. Take note: Discuss and agree
on a guarantee/warranty lasting at least 1 year from the day of
installation of your solar system with your Energy Service Provider.
The SRF does
not give any guarantee or warranty to the borrower in relation
to the loan.