Synthesis and All Power Systems are in the business of selling rooftop solar solutions.
In their experience, potential customers invariably ask: How much does it cost? How much will it save? How reliable is it?
All relevant questions relating to risk.
The value of installing a solar electricity system is usually measured by the associated costs and potential risks relative to Eskom’s current price projections. Many solar rooftop companies are making a compelling case to businesses, using strong potential savings models. However, these savings models depend on various efficiencies, and or, inefficiencies.
Clearly, solar energy isn’t generated at night. Other weather conditions also hamper photovoltaic effectiveness; like overcast or rainy conditions. Exposed rooftop panels are vulnerable to the elements. So, what happens if the panels are damaged by hail, and or, if the system develops a fault or requires routine maintenance?
The real underlying question is: In these potentially variable conditions, what happens to the savings that businesses have been promised?
A new solar savings insurance developed jointly by All Power Systems, Synthesis Power Holdings and a renowned global reinsure provides an answer: Jay Naidoo, CEO, explains, “We provide independent, clean electricity for businesses in two ways: with All Power, we install solar rooftop systems for commercial clients who want to own their own sustainable electricity supplies. With Synthesis, we offer a complete financial solution with zero capital input from the client, and since Synthesis effectively owns these projects, we agree a guaranteed monthly fee for electricity, with zero risk.”
“Along with an international re-insurer, we have developed a unique Solar Savings insurance product to underwrite savings guarantees for both of our business models.”
Simply put: with Solar Savings insurance, All Power’s clients can now insure their own solar plants against any loss of earnings. And Synthesis can give their clients the assurance that their service agreements are underwritten by a third-party, and their projected savings are guaranteed.
Naidoo’s latest client, Richard Bennet, Marketing Director of iProp (owners of The Hydro Stellenbosch), had this to say: “As investors in Solar Rooftop Technology, the development and inclusion of an All-Risk Solar Insurance product such as this has assisted us by de-risking our investment quite considerably. Not only do we reap the great returns which solar power offers, we also have the assurance that the forecasted solar energy savings are guaranteed.”
Naidoo is quick to point out that this new policy is all-risk. “No matter what the adverse conditions are, be they weather-related, accidental or wear and tear; the savings, and or, income that your solar rooftop system was meant to generate over time, you will receive, guaranteed.”
Notwithstanding, the endless variances currently prevalent in the energy business, providing an underwritten business guarantee is prudent and far-sighted.
A very good idea indeed.
Synthesis and All Power Systems are in the business of selling rooftop solar solutions. In their experience, potential customers invariably ask: How much does it cost? How much will it save? How reliable is it?
Solar rooftop providers All Power Systems and Fusion Energy have formed a new company, Synthesis Power Holdings, to take advantage of the growth in South Africa’s solar rooftop energy market.