South African startup Wetility has launched its platform, which aims to ease access to solar rooftop installations for home and business owners.
Wetility has developed a suite integrated smart energy solutions designed to provide customers with a personalised 360 experience. We-X is an easy-to-use digital platform that intelligently enables users to stay connected with remote monitoring and instant alerts, while the PACE device is intelligently designed to control the energy flow to homes and businesses.
With very few South Africans able to access solar power owing to expensive upfront installation costs and, at times, a confusing market, Wetility is looking to shift this with its approach to pricing and technology.
As part of its Pay at Pace solution, the company can install hybrid rooftop solar systems on homes – which includes solar panels as well as its hi-tech PACE device – at no upfront cost to homeowners. Homeowners then receive always-on power from these systems via an affordable monthly lease or power purchase agreement.
“Crucially, this Pay at Pace model can cost less than the user’s existing monthly bill with Eskom or their municipality, especially at a time when electricity tariffs from these entities are set to rise in 2021,” said Vincent Maposa, chief executive officer (CEO) of Wetility.
Homeowners further have the choice to purchase the system outright with cash or via bank loan installments. Wetility is also servicing businesses such as medical practices, bakeries, laundromats and even farms with solutions that can cater for energy needs from 5kW to 50MW.
“The introduction of this breakthrough offering comes at a time when more South Africans will need to mitigate against the risk of load-shedding, especially with work from home becoming a greater reality during the ongoing COVID-19 pandemic,” Maposa said.
Wetility is looking to carry out 1,000 solar installations in Gauteng this year, 80 per cent of those in the residential market. From 2022 onwards, it aims to ramp this up to over 60,000 installations over a five-year period. The company has so far received backing from US and South African investors, including the likes of Gauteng’s Growth and Development Agency’s Innovation Hub.
