A Buyer’s Market — Is It Time to Invest in Solar for Your Business?

Solar panels for business: is now the time to invest?

Solar prices have dropped, tariffs keep rising, and businesses that are still waiting to invest need to weigh up what that wait is actually costing them.

Solar energy has become a visible fixture in South Africa. But many businesses are still holding off on installing solar panels for business use. Can they afford to wait, or is this a good time to make the investment?

Trends for solar panels and battery storage

Photovoltaic panels have sprouted across rooftops in towns and cities. What started as a way to offset crippling power outages from the country’s ageing infrastructure has turned into an environment where businesses can generate their own energy and reduce dependency on grid conditions.

The commercial and industrial (C&I) market has gained a lot of traction. While the bulk of SA’s solar power output comes from large generation sites, this growth has notably reduced solar panel prices, and in some cases a C&I solar and storage installation is half the price it was two years ago.

Solar and storage projects reached a stage where the return on investment started to make sense to business owners within the C&I space, boosted by the rush to mitigate the high levels of loadshedding experienced in 2023. This, along with higher energy tariffs, has brought interest up. Several solar and storage companies have also substantially increased their presence in the C&I market. All these factors together are seen as the drivers for growth for the next few years, according to Oscar Roberto Harbs Júnior, Sales Supervisor at WEG Africa.

Rising grid electricity costs make the case for you

The rising cost of electricity in South Africa in early 2025 was around 12.74%, the latest of several consistent price increases that have made electricity 190% more expensive since 2014 (Council for Scientific and Industrial Research).

Solar and battery storage has become one of the most affordable and accessible options for businesses that want to reduce their electricity bills and create a buffer against future price increases. This is an excellent time to consider investing in solar panels for business, though a business should avoid rushing the decision without proper research, and solicit advice from an experienced company with strong bankability and a good reputation.

The window of opportunity is very promising, but since solar and storage are medium to long term investments, rushing the decision may cause investments to fall short of the expected ROI or experience after-sales issues. Business decision makers should prioritise quality over the option of lower-priced products and projects.

Be smart about solar panels for business

Here are tips for businesses looking at buying a solar panel system:

•       Assess your energy needs: Review monthly electricity usage (kWh) to understand your energy needs before going to the market.
•       Select a high-quality brand: When choosing solar panels for business use, opt for a reliable brand for your inverters, batteries, panels and BOS. Select a brand that has the capability to offer a complete one-stop-shop offering and that can honour warranties, with local presence for support for the duration of your investment.
•       Use approved system integrators: Use reputable and accredited system integrators who comply with local regulations and obtain necessary approvals.
•       Remember maintenance and monitoring: To maximise your ROI, keep track of your savings after the system installation with a reliable solar monitoring system.

Ready to work out what solar and battery storage could look like for your business? Find an accredited WEG installer to start assessing your needs.