The use of technology to make solar power systems more accessible in SA is the focus in this edition of Business Day Spotlight.
Host Mudiwa Gavaza is joined by Vincent Maposa, co-founder and CEO of Wetility.
Wetility is a solar solutions provider. Its offering includes hybrid inverters, battery systems and solar panels for homes and businesses. The company also offers various financing options to suit what the consumer can afford.
Listen to how its done, here:
With 72 days of load-shedding reported by June, national power utility Eskom is unable to meet the energy availability factor, a feat last achieved in July 2018.
The energy availability factor (EAF) is a measure of generation output as a share of total installed capacity. For much of 2022, Eskom has run at an EAF of 62%-65%, which is one of the factors leading to the country’s experiencing the deepest run of power cuts over the longest continuous period yet, during the past few months .
This state of affairs has led to an increase in demand for solar power systems by consumers and businesses, Wetility’s target market.
In addition to a physical system, the company has a digital platform called We-X, which houses information on solar power as well as the administrative systems needed for management. It allows consumers to manage and optimise solar power in a chosen space and keep up to date with payments.
The discussion focuses on how growing demand for backup power is being met by businesses. Maposa says consumers often suffer, paying large sums of money for inadequate or inappropriate systems for their homes. His company’s aim is to reduce complexity associated with such systems, stating that the long-term intention was to move solar away from being “a grudge purchase”.
Maposa also details the financial investment and interest his company has been able to raise over time. He was part of a cohort of entrepreneurs backed by MultiChoice that travelled to Dubai for Expo 2020, to try to drum up financial support for their ventures from international investors
As Expo 2020 closed, the DStv operator said companies on its accelerator programme secured altogether $16m. MultiChoice invested $3.1m and external investors generated $12.9m.
Topics of discussion include load-shedding’s contribution to increased demand for backup power in SA; costs associated with installing and maintaining solar power systems for consumers and businesses; financing options for such systems; and how technology can be used to reduce the complexity associated with managing alternative power systems in one’s home.
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Business Day Spotlight is a MultimediaLIVE production.
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