ABSA, South Africa’s biggest bank by client base, said it now offered its customers the opportunity to select and finance a fully-customised renewable energy solution that fits around their lifestyle and financial circumstances.

The solution, according to officials, would allow them to take the first step towards being in control of their household’s daily electricity needs.

“Absa’s entire philosophy and business model centres on putting our customers at the heart of everything we do,” says Pierre Loubser, Managing Executive: Absa Consumer Banking.

“For us, that means responding appropriately to their needs, at a time when we’ve become increasingly aware of the fact that we have a joint responsibility to help relieve some of the pressure on our national electricity grid.”

The installation of energy efficient and environmentally friendly power back-up, photovoltaic (PV) power generating systems as well as solar thermal geysers in homes have become a necessity in view of continued energy constraints and the sharply rising cost of electricity in South Africa.

Although these systems may initially appear to be a costly investment, over the long-run households will save a significant sum of money in reduced electricity costs and also limit the inconvenience of power cuts.

What makes this offer from Absa such a compelling proposition is the fact that, for the first time, a South African bank will offer its customers access to photovoltaic and quality battery back-up systems, solar geysers and heat pump solutions to safeguard them from the impact of the current energy constraints, Pierre says.

“This will enable a better future for our customers. By reducing grid-reliance, with solutions like PV systems and solar thermal geysers, we all contribute towards managing scarcity in the years to come. In addition, energy efficient homes are likely to sell at a premium in future.”

Anh Tuan