There are about six million electric geysers in SA heating water, whether needed or not – and that’s reckoned to be responsible for at least two stages of load shedding.
“The advantage of this approach is that you don’t require expensive plumbing work, and you get to benefit from the long lifespan of normal solar panels, which typically last as long as 25 to 30 years,” says Marc du Plessis, executive head of LookSee, Standard Bank’s home efficiency platform. LookSee launched its Solar Loan scheme in 2023 to make solar power systems affordable for South Africans.
“The good news is the payback period for these installations is typically three to five years,” says Du Plessis. These systems can be financed through LookSee’s Solar Loan scheme where interest rates are capped at a maximum of prime plus 2.5%. This is a substantial discount on the prime plus 7% offered on personal loans, or the maximum prime plus 17.5% mandated by the National Credit Act.
The conversion to solar power uses direct current rather than the normal household alternating current, which helps reduce the cost of installation.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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