While tariff charges are expected to increase 10% annually over the next 10 years, studies have shown that the cost of solar energy drops to almost zero by the second year of use and remains so for up to several decades, making it one of the most cost-effective long term choice for household energy.
This was revealed by the Wilfred Kwaku Atuobi, CEO of wholly owned Ghanaian company, Windsol Energy Ghana at the final session of the of annual GHL Bank Developers Seminar held in Accra.
He made this cost analysis based on the assumption of a household with a total consumption of 500W over 18 hours a day, or estimated 270KWh per month. Highlighting some of the well-known benefits of solar energy, he stated its reliability, zero cost of maintenance, and non-existent noise pollution when compared to power generators.
He also unveiled the Solar In Your Community Programme for residential estates which allows real estate developers to offer solar installation to homeowners with a 3 to 5-year payment plan after which system ownership is transferred.
Each year, the GHL Bank Housing Fair seeks to equip real estate developers with the latest trends and global best practices. In addition, the October edition sought to address the key challenges faced by the clients of real estate developers when accessing home acquisition facilities from the bank.
Led by Richmond Asante, Head of Mortgage Origination, the bank shed light on ways clients could navigate the common bottlenecks during the assessment and verification stage of the mortgage process. Presentations by Alberta Osei of the Collateral Management Unit and Afua Tiwah Ahmed of Risk provided a deep dive into practical case studies to educate and empower developers.
Mr. Samuel Amegayibor, the Executive Secretary of GREDA also urged developers to use innovation and collaboration to help bridge the housing deficit in the country through the provision of more affordable housing solutions.