You don’t pay us anything upfront. Your insurance will pay us the claim payment instead of paying for an electric geyser. Plentify pays the difference to install a smart solar geyser.
We carefully track how much electricity your smart solar geyser is saving you. Each month you will receive a summary of how much electricity you have saved (which you can also monitor in real time through our web app). You keep 20% of these savings and pay 80% to Plentify as your service fee.
Our system saves you money by harnessing the sun’s energy to heat water and by optimising the system so that a minimum amount of electric backup is required. We have plans to make the system even smarter over time to increase your savings even further.
Your electricity savings are the difference between how much electricity your smart solar geyser uses (for electric backup) and how much electricity a new SABS-compliant electric geyser would have used. These savings are converted into a monetary value using your municipality’s electricity tariff. Electricity used by your smart solar geyser is measured in real time [...]
You can see both the units of electricity saved and your share of the monetary savings in our web app. The app gives you the ability to see your savings daily, weekly and monthly, as well as the overall amount that you have saved since the smart solar geyser was installed. We will also send [...]
You keep paying for the 10 year life of the agreement, unless it is terminated sooner. You can terminate at any time by paying a cancellation fee, buying out the solar geyser or transferring the agreement to the new owners if you sell your house.
You can buy out the solar geyser at any time for its remaining value plus an admin fee. The remaining value is calculated as the net cost of installing it (after deducting your insurance claim) minus 10% for each year it has been installed (pro rated for part of a year). The admin fee is [...]