Equity Bank and solar energy company, Orb Energy, have extended a partnership deal to offer loans that will see homes, institutions and industries acquire solar water heater systems.
The announcement comes in the wake of looming Energy Regulation Commission’s (ERC) 22nd November deadline for households and institutions that consume more than 100 liters of hot water per day to install solar water heating systems in accordance with the Energy (Solar Water Heating) Regulations 2012.
Through the Equity Bank loan product, Kenyans will be able to acquire solar water heaters that will see them save up to 60 per cent of the money spent on their electricity bill. Orb’s Sunstream solar water heating systems caters for residential and buildings that consume over 100 litres of hot water a day as well as industrial facilities that consume up to 13,000 litres per day or more.
Speaking on the initiative, Equity Bank’s Director of Operations and Customer Experience, Gerald Warui said, “Equity is committed to promoting the use of clean energy products and has so far helped 16,000 households – equivalent to an estimated 70,400 individuals – benefit from these products. The partnership with Orb Energy now allows us to avail to our clients a more enhanced product offering.”
In the deal, customers will be able to access free site surveys from Orb Energy that includes free technical and financial assessment by Orb technicians. Orb also takes care of all installation and after-sales service countrywide.
The product has a five year warranty and the repayment period is approximately 24-36 months based on savings generated by switching to solar water heating options.
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