As electricity tariffs continue to rise, squeezing household and small business budgets, a new solar company has entered the market with stokvel and crowdfunding models aimed at making renewable energy more affordable and accessible.
Ipeleng Power Solutions IPS, founded by entrepreneur Ipeleng Mhlanga, 32, launched in Johannesburg this week, offering solar system design, installation, maintenance and cleaning services. The company targets households, small businesses and communities that lack access to conventional financing.
Its approach centres on community-based financing. In the stokvel model, groups of families or business owners contribute fixed monthly amounts into a shared pool, which is then used to finance solar installations for members in phases.
