Solar financing

Finance the purchase of solar energy to spread the cost over a period, reduce the strain on your cashflow, and beat loadshedding!

Nigerian small businesses can significantly reduce their electricity bills by adopting solar power, as they can generate their own electricity, leading to long-term cost savings and improved financial stability.

Nigeria is especially well-suited to solar energy given the abundance of sunshine and increasing options for low-cost solar energy. In addition to cheaper and more reliable power, solar energy also has environmental benefits, significantly reducing your business’ carbon footprint and contributing to a cleaner and more sustainable future.

Making the switch to solar can be a challenge for small businesses given the upfront cost. That’s where government incentives and Swoop’s funding providers come in. Swoop can help you secure financial support to cover the upfront costs of installing solar panels and other renewable energy equipment. 

Why solar financing?

Maintain your working capital

Purchasing solar power outright can put a substantial strain on your cash flow. Spread the cost of the solar installation over the useful life of the asset in order to make it more accessible and retain your working capital for other expenses.

Secure a reliable energy supply

Nigeria’s national grid electricity supplier is facing major capacity issues, which has meant that loadshedding quintupled in 2022 compared to 2021. Furthermore, it is projected that loadshedding will contine for the next 10 years in Nigeria.

Tax benefits

From 1 March 2023, businesses will be able to reduce their taxable income by 125 percent of the cost of an investment in renewables. Furthermore, there may also be tax rebates available under specific circumstances. 

How solar energy financing works

Did you know?

You can usually borrow up to 100% of the value of the solar installation and equipment, but the amount may vary depending on the type and condition of the installation, as well as the lender and your qualifications as a business

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