The one test
Your monthly instalment should not be more than the electricity bill it replaces. If it is lower, the system pays for itself from the first month: you hand Kenya Power less, pay us less than you used to pay them, and own the system outright at the end. If it is higher, solar is still an investment that pays back, but it is no longer a straight swap, and you need to be comfortable with that.
Our savings calculator applies this test to your own bill and says plainly which side of the line you are on.
Our terms and monthly payments
We finance in-house: no bank, no collateral beyond the system itself. Terms are 12, 24 or 36 months, with a 30% deposit on 12 and 24 months and 40% on 36 months.
| System (cash price) | 12 months | 24 months | 36 months | Estimated bill saving |
|---|---|---|---|---|
| 5 kWh (KSh 289,000) | KSh 86,700 deposit, then KSh 19,893/month | KSh 86,700 deposit, then KSh 11,464/month | KSh 115,600 deposit, then KSh 7,418/month | up to about KSh 7,400/month |
| 7.5 kWh (KSh 349,000) | KSh 104,700 deposit, then KSh 24,023/month | KSh 104,700 deposit, then KSh 13,844/month | KSh 139,600 deposit, then KSh 8,958/month | up to about KSh 11,000/month |
| 10 kWh (KSh 429,000) | KSh 128,700 deposit, then KSh 29,530/month | KSh 128,700 deposit, then KSh 17,017/month | KSh 171,600 deposit, then KSh 11,011/month | up to about KSh 14,700/month |
| 15 kWh (KSh 599,000) | KSh 179,700 deposit, then KSh 41,231/month | KSh 179,700 deposit, then KSh 23,760/month | KSh 239,600 deposit, then KSh 15,374/month | up to about KSh 22,100/month |
Savings are estimates: each system's modelled monthly generation at about KSh 29 a unit, reached only when you use that much power. Your saving depends on your own consumption and tariff. Monthly payments include a flat charge of 1.5% a month on the amount financed. Transport outside Nairobi is quoted separately.
Read the table against the test. On the 36-month plan, a 10 kWh system costs KSh 11,011 a month against up to about KSh 14,700 of bill it can replace, so it more than covers its own payment. On 24 months the payment of KSh 17,017 sits a little above that saving, but you own the system a year sooner.
What a flat rate really costs
A flat rate is charged on the full amount financed for every month of the term, even as you pay it down. That makes it cost more than the same number quoted as an annual interest rate on a reducing balance. So do not compare rates. Compare the total you will pay in shillings:
| 10 kWh system | Deposit | Monthly | Total paid |
|---|---|---|---|
| Cash | – | – | KSh 429,000 |
| 12 months | KSh 128,700 | KSh 29,530 | KSh 483,060 |
| 24 months | KSh 128,700 | KSh 17,017 | KSh 537,108 |
| 36 months | KSh 171,600 | KSh 11,011 | KSh 567,996 |
Shorter terms cost less in total; longer terms cost less each month. Apply the same total-cost comparison to any bank loan, SACCO loan or supplier plan you are offered.
Who should not finance
If your Kenya Power bill is under about KSh 5,000 a month, financing is unlikely to work for you. The instalment on even our smallest system would be well above the bill it replaces, and the system would produce more than you can use. We would rather tell you that than sell you a plan that costs you money. If your use is about to grow, talk to us again then.
How our financing works
- What we ask for: six months of M-Pesa statements and twelve months of Kenya Power bills, to confirm the payment is affordable.
- Decision: in days, not weeks.
- Ownership: the system remains Elumina's property until it is fully paid, then it is yours.
- Remote lockout: financed systems are fitted with remote lockout, which is used only if payments stop.
- Warranties and the performance guarantee apply exactly as they do to a cash purchase.
Other ways to pay
Paying cash has the lowest total cost and the fastest payback, about two to three years on our standard systems. Some customers use a SACCO or bank loan instead of our plan; compare the total cost in shillings, and remember that our plan needs no collateral beyond the system. Whatever you choose, run the one test first.
Common questions
Can I pay for solar in instalments in Kenya?
Yes. We finance in-house over 12, 24 or 36 months, with a 30% deposit on 12 and 24 months and 40% on 36 months. There is no bank and no collateral beyond the system itself. We ask for six months of M-Pesa statements and twelve months of Kenya Power bills.
How much is a solar system per month in Kenya?
On our 24-month plan with a 30% deposit, monthly payments are KSh 11,464 for the 5 kWh system, KSh 13,844 for the 7.5 kWh, KSh 17,017 for the 10 kWh and KSh 23,760 for the 15 kWh. Longer terms lower the monthly figure.
Is solar financing worth it?
It is worth it when the monthly instalment is no more than the electricity bill it replaces, because the system then pays for itself from the first month. If your bill is under about KSh 5,000 a month, financing is unlikely to make sense.