The recent announcement by Eskom chairman Ben Ngubane that South Africans can expect power cuts this winter unless the National Treasury urgently signs purchase agreements so Eskom can build up its coal reserves once again highlights the demand for homes powered by green energy.
South Africa’s unreliable electricity supply has already played a major impact on the property market with demand for solar applications and other green energies to alleviate home usage increasing drastically over the past few years.
We know how important it is for commercial enterprises with a greater reliance on energy supply to ensure their supply goes uninterrupted, so alternatives have long been applied to this segment of the market.
On the residential side we’ve seen a lot of interest, especially among younger buyers, in homes with sustainable energy solutions. Studies show millennial’s are increasing.
On the other side of the scale home owners installing systems like these usually do that for their own purpose as the return on investment usually takes a bit of time before the initial capital outlay is recouped.
In addition the effects and influences on the property market the assistance increased solar applications will do to reduce some of the pressures on the national grid will definitely make a difference.
Harcourts Africa Chief Executive Officer