Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Eskom lights up solar profits

Oct 29 2009 17:46

Related Articles

Eskom hikes to hurt builders

Rates: Eskom hikes a concern

'Cut private power red tape'

World's priciest energy

'Obscene' Eskom hikes slammed

Eskom hike 'will stunt recovery'

 

Top Stories

Mantashe: We don't need the West

May 23 2012 09:47

Western investors must realise SA does not need their money as it can now turn to fellow Brics members for funding, says ANC secretary general Gwede Mantashe.

Facebook, banks sued over pre-IPO calls

May 23 2012 18:03

Facebook and banks are being sued by Facebook's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its initial public offering.

E-toll case goes to ConCourt

May 23 2012 08:10

Several parties, including government, have launched a Constitutional Court appeal against an interdict temporarily halting the e-toll project, Outa says.

 
Share Share line Print

Johannesburg - Solar power providers have their hands full due to growing electricity supply woes and anxieties over the projected Eskom tariff hike, suppliers said on Thursday.

"Every time Eskom opens its mouth, people's interests in solar energy are rejuvenated," Glen Macdonald, owner of Sunpower in Strijdom Park, Johannesburg said.

"We now receive up to 10 calls a day from people interested in switching to solar energy, however, not many people know how much of a change it is. Switching to solar is a big process which people don't realise. we as solar providers are not complaining though."

Teljoy, which rents out television sets, entered the solar industry about two years ago. Business was initially slow, but it now dealt with more than 300 enquiries daily since Eskom's announcement of a proposed 45% increase each year for three years.

"Since the announcement, more and more home owners are opting to seek viable alternatives, and it seems that solar power is the way to go," Theo Rutstein, chairperson of the Teljoy group said.

On the other hand, even though people thought it a good idea "to go solar", few were prepared to dig into their pockets, he said.

"[By installing a solar system now], you will save well over R125 000 over the next 10 years, if the price hike is approved."

Rutstein said many of the new customers were people in their mid-to late 50s concerned about the cost of electricity post-retirement.

Solaraza, based in Cape Town, said many people were searching for solar geysers. "The influx is so great, that I think providers are finding it difficult to close many deals," managing director Dane Spear told Sapa.

Solaraza specialises in solar geysers, which cost between R12 000 and R16 000.

"People still have a lot of fishing around to do before switching to solar power, as there are different levels of products," Spear said.

Downturn since load shedding

Ray Fernandez, national sales manager for Solahart, an importer which provides solar systems to 45 distributors countrywide, said sales had picked up over the past four months, "but definitely not as much as when we were battling with load shedding".

"We have had a distinct increase in sales, and are expecting it to increase further. However to date, it has not been as vast as last year March when we were hit with load shedding," Fernandez said.

Eskom has promised a subsidy to any household which switches to solar power.

In a statement it said: "Home owners who purchase a solar system from an Eskom accredited supplier will receive the rebate directly into their bank accounts after they have claimed it."

- Sapa

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Sasha

"The way that I read it is simple, more regulation often leads to higher costs, and whilst law makers think that their intentions are well founded, it is generally the customer, in this case the patient that suffers."       Jozi, Jozi. 26 o 12' 16" S, 28 o 2' 44" E . Call it a relief... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...