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The NCBA group has launched the solar PhotoVoltaic (PV) campaign, which aims at addressing the global demand for energy and sustainable development by promoting environmental sustainability and reduction of carbon emissions through the use of solar energy.
NCBA Group Director Asset Finance and Business Solutions Lenox Mugambi said that the increasing global demand for energy and sustainable development have led to the adoption of solar photovoltaic energy as a promising solution.
“In Kenya, solar power installation capacity stands at around 110 megawatts, which translates to nearly 1.8 million homes using small solar home systems,” Mugambi added.
He further detailed that these numbers indicated that the market understands the importance of installing solar energy in their homes not just for saving money but also for its impact on the environment.
Mugambi explained that as part of NCBA’s larger plan to participate in environmental sustainability composition and in line with their sustainability commitments, they are presenting a new solution called solar PV leasing.
“This major innovation aims to create a sustainable environment for all individuals and businesses to control their energy expenses and reduce environmental impact. Solar power not only provides sustainable solutions but also enhances wise financial planning,” said Mugambi.
He highlighted that with the solar PV leasing options, organisations would have the ability to lower electricity expenses by switching to a more affordable energy source and attain higher dependability with solar power, which is known for being clean, secure, and dependable.
“Moreover, organisations will be able to achieve their sustainability targets through the reduction of their carbon footprint as solar energy generates low emissions. It also increases flexibility since the solution can be extended to accommodate evolving energy requirements and be upgraded as necessary,” said Mugambi.
He added that organisations would be able to receive asset management services that encompass insurance, upkeep, and maintenance, thus addressing their customers concerns about operational costs.
He urged everyone to consider how solar PV leasing solutions could positively impact businesses by allowing them to decrease expenses, lessen environmental impact, and attain increased financial independence.
NCBA Leasing LLP Deputy Director Robert Marete said that customers were not looking for equipment to put up on their roof but rather, they were looking for safer, cheaper, and more convenient power.
Head of Design and Engineering at Chloride Exide Sammy Waite stated that they have an interesting PV unit, which is the photovoltaic module, which is put in the sun, and in turn, it converts light energy into electricity, which could run a factory, a home, and even an office.
He added that with net-metering in place, it’s now possible to send the energy to the grid and use it at night.
Waite detailed that one of the key features for the PV systems is remote monitoring, which brings information to your desktop or handheld devices like mobile phones. System email alerts are sent from the platform to create user accounts at predetermined intervals. With a click of a button, you will know how much carbon has been saved by the system.
With solar PV leasing, there is no capital required, so the power bill savings could go into rental payments with no cash commitment at inception. The repayment of the lease is up to 10 years hence flexibility while guaranteeing rental payments lower that monthly KPLC power bills.
By Gift Maina and Moses Nduati
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