Over 800 households have applied for Fenaka Corporation’s Home Solar initiative.
Managing Director of the utility provider, Ahmed Saeed, confirmed to state media PSM the initiative was received with praises by members of the public. Fenaka aims to install solar panels in 1,000 households by the end of 2022.
The Home Solar is structured as a small cost investment, bringing permanent solution to the surge in utility bills powered through conventional means. Fenaka expects bill reductions by 97%; claiming residences incurring MVR2,000 on power bills may drop as low as MVR60.
The renewable energy means will guarantee low maintenance costs, while Fenaka affirms usability of the panels spanning 20 to 25 years.
Fenaka further claims the initiative’s primary goal is to substantially reduce electricity costs for general households, while assisting state efforts to reduce excessive reliance on fossil fuels. The initiative also pushes the narrative on net-zero emissions by 2030 forward.