As South Africans continue to face the burden of power challenges, the adoption of solar photovoltaic (PV) solutions has reached unprecedented levels.
While the PV energy solution has emerged as a robust leading technology for commerce, industry, and manufacturing, the financial burdens imposed are significant, especially for SME business owners. Commercial and industrial businesses across the spectrum from small to medium enterprises to large corporates find it easier to justify funding these solutions, as they have become a necessity to trade, versus measures taken to contribute to climate matters or just convenience.
One of the main incentives for business is that the payback period on capital investments has reduced steadily as energy tariffs have risen. Research shows that between 2007 and 2022, the Eskom tariff increased by 653%, effectively quadrupling the cost of power in 14 years. The current operating environment has seen financial institutions and solution providers offering various financing options.
The journey entails a guided path to support clients in not falling into one of the many pitfalls that exist in the Solar PV market currently. It has proven to be a useful resource in shortening the client’s decision-making process through simplification. The purchaser then buys the generated electricity at a predetermined rate, often lower than prevailing utility rates.
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