With load shedding – already an all-too-common occurrence in South Africa – expected to ramp up over the coming years, keeping the lights on is no longer just a convenience, but a crucial survival strategy for the small businesses that are the lifeblood of the SA economy. In addition to the challenges of load shedding, the 18.65% electricity tariff increase set to come into play next month, will prove an additional burden for SA and are yet another reason why SMEs are looking to alternative energy sources, especially renewables.
There is a “light at the end of the tunnel” as we say, with many different sectors and businesses collaborating to find sustainable solutions. One partnership that was formed to empower SMEs with sustainable, reliable power solutions, is Lulalend’s latest partnership with several renewable energy suppliers from around the country.
“Working within the SME sector, we needed to create an offering that would assist this sector. We have launched a campaign in which there is an easily accessible funding option that will help power up SME businesses with solar energy, ensuring that the doors stay open, and the lights stay on,” says Tom Stuart, chief marketing officer at SME funding provider Lulalend.
Securing these funds through Lulalend means you get access to several locally based solar installing businesses at a discounted rate as well.
Minister Enoch Godongwana’s recent budget speech included exciting news for businesses and individuals looking to invest in renewable energy. Starting this month, businesses will be able to reduce their taxable income by 125% of the cost of investing in renewables. That means there’s never been a better time to start exploring your options for sustainable energy solutions.
As the South African energy grid continues to struggle with instability and regular load shedding, many small businesses are finding it difficult to maintain operations and stay competitive. The loss of power not only disrupts business activities but also leads to significant financial losses.
According to recent reports, power outages have cost businesses around R100 billion per year in lost productivity since 2019. That’s a staggering amount, and it underscores the urgency of finding reliable, affordable solutions to the energy crisis.
While there are several options out for SMEs looking to stay powered up and ensure continuity when it’s load shedding, solar power is the best choice.
With advances in energy storage (including Li-ion batteries), solar power has become fully reliable and dispatchable, ensuring a consistent supply of electricity 24/7. With the right setup, you can also sell excess energy back to the national grid, effectively letting your system slowly pay for itself.
Stuart explains “While the initial investment in solar panels may seem daunting, the long-term savings can be significant. Not only will you be able to reduce your reliance on the grid (and therefore your monthly electricity bill), but you’ll also be able to take advantage of the tax incentives mentioned in the recent budget speech.”
Unlike other fossil-fuel-based solutions such as diesel generators, solar power is sustainable. By investing in renewable energy, you’re not just protecting your business from the impact of load shedding – you’re also doing your part to reduce your carbon footprint and contribute to a more sustainable future.
“We at Lulalend are committed to helping small businesses thrive in South Africa, and we believe that sustainable energy solutions are a critical part of that equation. With our secured funding options and partnerships with solar-preferred suppliers, we’re here to help you power up and keep the lights on. Let’s work together to build a brighter, more sustainable future for all,” says Stuart.
