Solar not performing?
Across industries, businesses are facing the same problem: solar systems that are under-performing. What should be a dependable energy solution is causing unstable power, rising diesel costs and lost savings.
In 2024 alone, under-performing solar assets led to more than $10 billion in avoidable losses globally, according to Raptor Maps’ 2025 report. “Owning a solar system doesn’t guarantee performance,” says Richard Flamand, Country Lead at Candi Solar. “Without active monitoring and management, performance degrades and the business absorbs all the risk. Most solar systems operate well below their maximum efficiency due to a combination of preventable factors.”
Poor installation quality, limited data capture, delayed repairs, inadequate cleaning, and weak health and safety infrastructure contribute to declining output over time.
CASE STUDY: Eden Village
A pertinent recent example was Eden Village Preparatory School in Salt Rock, KwaZulu-Natal. Despite having a 70kWp solar system with 187kWh battery backup, the school had frequent power outages, the system couldn’t support peak demand, and generator diesel bills were rising fast.
This is where the importance of choosing a reliable partner with strong performance management comes in. Fortunately, there are now smarter ways to refinance existing solar assets, too. Whether the system was purchased upfront or installed through a long-term Power Purchase Agreement (PPA), these models allow businesses to restore reliability and shift performance responsibility to an accountable partner.
Above and beyond refinancing
Traditional refinancing models typically focus purely on financial relief, but some go further, such as the approach of combining refinancing with long-term performance management and technical accountability implemented at Eden Village. “Forward-thinking, flexible refinance options can be tailored to monetise existing solar assets in diverse situations,” explains Flamand, outlining two scenarios to illustrate:
Scenario 1 – Buyout rescue
For companies with an existing solar setup, the system can be bought out by a solar partner. “In this scenario, Candi Solar buys the existing system from the company at market value: this frees up significant cash flow for the company, and also eliminates all future system risks. This is because the business no longer owns or maintains the system: from the date of the buyout, the company simply pays per kWh for electricity usage, with zero performance headaches.”
Scenario 2 – Refinancing the PPA
Many companies with under-performing systems are locked into long-term contracts. “Existing PPAs can be refinanced,” says Flamand. “In these cases – as with Eden Village – Candi Solar will settle the existing PPA on the company’s behalf and refinance the solar system on better, more flexible terms. As with the buyout rescue option, this also eliminates all future system risks: Candi takes over the ownership and maintenance of the system, and the company simply pays per kWh for electricity usage, going forward.”
A win-win outcome
Combining smart PPA refinancing with long-term performance protection enabled Eden Village to reconfigure their solar plant for optimal performance and shift the ownership and operational responsibility for the existing system to solar experts, ensuring long-term sustainability.
“With tailored, financially attractive, risk-free and end-to-end solar refinancing solutions, our commercial and industrial clients can unlock the full value of their existing solar investments and never worry about energy security again,” says Flamand. “As part of our corporate purpose of powering a more sustainable planet, one business at a time, we invite solar asset owners to contact us for a complimentary, no-obligation technical check-up and consultation, to help realise the true potential of their existing solar plant.”
