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Pre-paid solar power in residential developments- the way to beat Eskom tariffs?

13 January 2022 8:58 PM
Tags:
Eskom
The Money Show
Solar energy
Solar power
Bruce Whitfield
electricity price
Wisolar
prepaid solar electricity
Tonye Irims
prepaid solar power

Bruce Whitfield interviews Tonye Irims, founder and CEO of solar power start-up WiSolar.
Image: MinkS onPixabay

South African startup WiSolar's services include selling solar power on a prepaid basis.

It plans to raise R45 million this quarter in its first funding round as it gears up for growth, reports Bloomberg.

The company wants to work with property developers to install decentralised solar-power systems in new residential developments.

Bruce Whitfield interviews Tonye Irims, WiSolar founder and CEO.

It is basically on-demand electricity that is going to be low-cost.

Tonye Irims, Founder and CEO - WiSolar

It's a 10 to 25-year PPA between the home owner and the developer, so over time we get our money back via pre-paid...

Tonye Irims, Founder and CEO - WiSolar

The megawatts used by the average household fall within the regulatory framework says Irims.

We've got 540 homes we're working with right now... We're also deciding on new developers...

Tonye Irims, Founder and CEO - WiSolar

What about price increases in the pre-paid solar energy Wisolar provides as a possible monopoly business?

Irims explains that homes they supply will still have access to grid power.

You're going to have both power supplies to alternate between as you want... Our rateis going to be about 90c per kilowatt hour, which compared to the grid is about half of that. We could look at that and reviewing it to be cheaper...

Tonye Irims, Founder and CEO - WiSolar

For more detail, take a listen:


This article first appeared on CapeTalk : Pre-paid solar power in residential developments- the way to beat Eskom tariffs?




13 January 2022 8:58 PM
Tags:
Eskom
The Money Show
Solar energy
Solar power
Bruce Whitfield
electricity price
Wisolar
prepaid solar electricity
Tonye Irims
prepaid solar power

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