Solar power installers profiting from power cuts, charging R60k to R200k

Solar power installers are profiting from Eskom’s continued load-shedding, charging between R60,000 and R200,000 for solar panels and installation. 

This is according to a study conducted by Procompare, an online platform connecting clients with local professionals. 

Procompare looked at national data on load-shedding collected by the EskomSePush app, the number of requests for solar panel installation submitted on its site and the volume of Google searches for “solar panels” in SA. 

“We analysed the data from February to the first half of September and normalised it on a scale from 0 to 100 so it can be compared on a single chart.”

It said the record numbers of load-shedding hours this year forced homeowners and businesses to search for alternative energy sources outside of buying batteries and generators. 

“Beside batteries which can store energy from the grid and generators which can produce electricity during an outage, solar power seems to be the renewable source of choice.”

According to Procompare, solar power installers started profiting after two load-shedding peaks. 

The first peak occurred at the end of June and continued in the first half of July, and the second started early in September and is ongoing.

“The demand for solar systems more than doubled in June and July, which corresponds to the first peak of Eskom outages between the end of June and the first half of July,” it said. 

“The demand fell sharply in August, when there were fewer outages, but picked up again in early September, along with a record number of disruptions of electricity supply.

“Even though the winter months are over, when the demand for photovoltaics usually slows down, requests for solar panels are nearing all-time highs again.”

It said in a country like SA, with plenty of sunlight, households and businesses are well positioned to take advantage of solar energy. 

“You can expect to pay between R60,000 and R200,000 for solar panels and installation.”

Financing for solar power

Nedbank announced it is offering home and business owners several funding options to purchase solar power systems for their properties.

How does it work?

• Find an approved solar expert. You will need to do this before starting your application. You will have to use a Nedbank-approved supplier to secure the loan. This is because the list of Nedbank’s suppliers are fully vetted, accredited and recognised by the SA Photovoltaic Industry Association.
• You then need to get a needs analysis and quote. Once you have your installation quote and your proof of comprehensive insurance, you can apply for finance.
• Once financed, contact your supplier to arrange for your energy solution to be installed in your home at your convenience.

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