How solar is changing Ghana’s real estate market ? If you are involved in the business of constructing a new building in Ghana, whether it’s a logistics center, a manufacturing plant or a multi-family residence in East Legon, most likely installing solar panels was mentioned at some point in the process. Solar panels are being integrated into more and more new constructions, and some cities like Tema and Accra are leading the way.

Our research also indicates that there is a high demand for 2-3 bedroom houses and the cost of land and litigation has pushed the direction of real estate developments into apartment complexes rather than single detached or semi detached homes. Rooftop solar is a great investment that can generate hundreds of thousands (if not millions) of dollars and has a return on investment of just 3-5 years. It increases the life of the roof, and the value of the property. Every owner, architect and general contractor should consider how they can integrate solar in their new construction.

This renewable energy revolution is a global one and many new home owners in Ghana are currently considering going green in their next real estate project, .with an average daily effective sunshine hours of 5.5 hours, Ghana is a great place to go solar. There is generally a hunger for renewable energy options even though many do it for environmental and energy security reasons. Another school of thought indicates that the rising costs of diesel and the effects of pollution are gradually giving diesel generators an “uncool” or even “savage” tag. How solar is changing Ghana’s real estate market ?

But where do you start? Should you integrate solar into new construction or just wait until later?

No Muss, No Fuss

The first thing to note is that adding solar to a new building doesn’t mean you need to redesign the whole building. In fact, only minor adjustments, if any at all, will be needed. However, there are some things to consider that will make the process of switching to solar easier. By planning ahead and integrating solar during construction, you can tap into efficiencies during construction and save money.

How solar is changing Ghana's real estate market

A solar installer installing a Victron Energy multiplus compact inverter

For example, you should ensure the structural load of the roof can support a solar PV system. Most roofs can support solar without structural reinforcements, but if your current building design can’t support solar, you want to catch this early on before you begin construction.

Brighten up the Bottom Line

You can also integrate solar into your building design, saving money by making the solar installation process more efficient. A few examples of this include strategic designs that may consider ventilation, insulation and air conditioning units, and integrating the solar system’s electrical wiring and equipment into your building design. This type of planning will lower your overall cost of solar installation whilst adding an energy efficient tag to the project.

Get In and Get Out

The last thing to consider is that installing solar during construction minimizes the disruption to your operations. Once your building is operational, installing solar will have minimal impact on your day-to-day work, but it is always better to complete the installation before people are in the building. That way, you will be producing clean energy and saving money from day one. How solar is changing Ghana’s real estate market?

The Future is Bright

Many real estate companies in Ghana are incorporating solar solutions or backup power solutions like this Victron Energy multiplus inverter system

Thousands of companies install solar after the building is complete, but some forward thinking can make your solar installation cheaper and more efficient. The process of transitioning to solar can be daunting. As the CEO of Royal Estates Group, Mr. Stanley Owusu shared regarding the company’s recent transition to solar panels, “I couldn’t make heads or tails of it.” They turned to a Nocheski solar to help them navigate the design process, solar installation.The result is the installation of several Victron multiplus inverters in Oasis estates projects.The evidence is clear that whether you’re a business owner or a commercial real estate developer, solar is an excellent investment opportunity. Integrating solar into a building during construction only gives an added boost to the economics.Real estate stakeholders such as architects, builders and homeowners may contact us on 0244270092 or email [email protected] for inquiries and how they may benefit from expert advice for prospective real estate projects.

Bill Gates once again shunned solar power from his vision for energy access in Africa in his talk at the University of Pretoria in South Africa on Sunday, where he argued that whilst “cheap, clean energy” is what Africa needs, solar does not fit the bill.

During the delivery of his Nelson Mandela Annual Lecture, the Microsoft founder and philanthropist identified that Africa, like the rest of the world, is in need of a “breakthrough energy miracle that provides cheap, clean energy for everyone.”

Africa is more dependent on such a phenomenon than other continents, because seven in ten Africans still lack power at present, while more than 500 million Africans still will not have electricity by 2040.

This is not the first time Gates has taken a less than welcoming stance to solar power. In February, during an interview with a news outlet, he echoed a similar thought. “When I say ‘an energy miracle’,” he said, “I mean that there will be some form of energy whose 24-hour cost really is competitive with hydrocarbons given, say, 20 years of learning curve.

“You invent it, then you look at how much its costs go down over the next 20 years, that it really beats hydrocarbons.

“You might say, well, aren’t people saying that about wind and solar today? Not really. Only in the super-narrow sense that the capital costs per output, when the wind is blowing, is slightly lower.”

In fact, Gates has been advocating anti-solar sentiment for a while. In 2014, he blogged about energy poverty, arguing for outdated fossil fuel solutions to tackle the electricity deficit in underdeveloped economies, characterising energy poverty as a climate issue.

Solar is ‘not enough’

In the speech on Sunday, the software entrepreneur recommended increased investment in renewables, namely hydropower and geothermal. He went on to argue that recently launched solar power initiatives have not been enough:

“There has been a lot of experimentation with small-scale renewable energy, including micro solar,” he said. “This approach can provide individuals with some electricity for basic purposes, but it’s not going to be the solution for the continent as a whole.”

PV Tech contacted the South African Photovoltaic Industry Association (SAPVIA), who vehemently disagreed with Gates’ sentiments.

“To downplay the role that solar photovoltaics (PV) can play as part of a unique African energy mix in the strive to alleviate Africa’s energy constraints would be irresponsible,” a spokesperson said, whilst citing data that should deem solar a ‘no brainer’ solution for Africa: “Africa has 7 of the 10 sunniest countries on earth and, according to IHS Technology, a US-based economic and energy market research company, Africa’s total solar power–generating capacity is projected to reach 3,380MW by 2017.”

Solar deployment in Africa

In fact, solar power is undergoing rapid deployment and implementation as many countries across the continent are battling energy crises and look to alternatives to expensive fossil fuels such as diesel and coal. A series of feed-in tariffs and solar tenders have offered a foray into a solution that not only is clean and inexpensive, but is easily accessible.

In South Africa in particular, the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) has successfully awarded 965MW of new solar capacity, which SAPVIA points out “is being delivered on time and on budget”.

“The rapidly escalating uptake of the technology in the rest of Africa can be clearly seen,” argued SAPVIA. “Expedited solar PV roll-out is being seen as supportive policies and regulations, such as the Get FIT Programme are developed and implemented. These policies and programmes, combined with the drop in the cost of PV technology (currently fully off-grid solar-PV technologiesdeployed at site can be deployed for as little as US$ 0.15/kWh and they do not require additional expensive transmission networks to move the electricity around), [we] see solar PV will make a significant impact on Africa and its energy challenges.

“One can expect – as has happened in South Africa – as the necessary supportive policies and regulations are scaled up, the rest of Africa will experience an increased uptake of solar PVtechnology. New renewable energy markets in Africa are already showing greater appeal to international and local investors – further spurring the uptake of solar PV in African markets.”

solar pv

How solar is changing Ghana’s real estate market?

Why Bill Gates thinks Solar is not the energy solution Africa needs

Solar is ‘not enough’

Solar deployment in Africa