Save money (and possibly the planet) with Green Tech

My Money Matters | Written by Monique Vrey

17 July 2017

Homeowners are going green, but many of us are still gobbling up fossil fuels - especially in winter. Between global warming and the cost of electricity skyrocketing, it’s time we explored renewable energy in our homes. There’s no better time than now to weigh up your options. To help you do that, we asked Justin Schmidt, Head of Renewable Energy Africa at Absa, to outline the so - called ‘green technologies’ at your disposal.

According to Schmidt, the first (and most important) thing to do before embarking on this journey is to take steps to improve the energy efficiency in your home. This includes making small lifestyle changes such as switching appliances and plugs off when they aren’t in use, and switching lights off when you’re not in the room. “The more efficiently you’re able to use your electricity, the more successful your journey with green technology will be,” he explains.

Next, you need to familiarise yourself with the available options, taking into account which of them will most benefit your specific circumstances. Some of the options currently available on the market include LED lighting, gas stoves, solar water heating and as solar installations.

With all of that in mind, how do you get started? “Once you understand your energy usage and you’ve identified where you’re able to make savings, you can start investing in the right technology,” Schmidt says. “I would highly recommend that people don’t just go with the cheapest offer because that might not always be the best option for your unique situation.”

Here are the numbers of how much you can save by simply changing your lightbulbs, or by replacing your electric geyser with a solar one:

While businesses look at these renewable energy solutions as investments, households are measured by different standards. “It’s not as much about the money,” says Schmidt, noting that the country’s power supply isn’t always reliable. “When you’re at home, you want to be assured that you’ll have electricity without having to rely on power utilities and the grid.”

So, while renewable energy solutions can save your household money, the amount really depends on how efficiently you consume electricity.

As an Absa customer, you receive a 10% discount on energy products purchased from Eco Navitas and a 5% discount on all water storage and harvesting solutions. Note that there are also various funding options available to you. You can use funds from your Absa Home Loan by applying for a further advance, or re-advance or FlexiReserve; or apply for a personal loan from Absa funding solutions.

If you want to know more, read our blog post on renewable energy’s benefits in winter, or ask for more information on renewable energy solutions when you give us a call on 08600 08600.

Disclaimer: The advice contained on this blog is for general purposes only and does not take into account individual circumstances, objectives or financial needs. Accordingly, readers are advised to seek appropriate advice from licensed professionals prior to making any investment, or taking up a financial product or service.