Morton78; a wholly Nigerian renewable energy company with core focus on Improving the lives of Nigerians by providing Energy access to unserved and underserved people of the country recently made their payment plans known for businesses in Nigeria. According to the organization, the payment plan is designed to address the initial cost problem many small and medium scale (SME) enterprises encounter before they go for solar and other forms or renewable energy.
Speaking to the media, Engr. Adetola Adebanjo who is the founder and the chief executive officer of Morton 78 said, “We at Morton have a plan we call the “Save To Own” plan whereby you pay to own a system over a predetermined timeline. This payment would be lower than what you are currently spending on power. The renewable is not expensive in the long run, apart from the initial capital expenditure. you can see that with generator, you can factor cost of diesel which is N800 per liter and you will do like six hours and you do the math and you will get about 60 liter per day and you have the gen running like 6 hours daily and if you multiply by 20 days per month, you get about 5 million a year only on buying diesel not maintenance and personnel cost. We have what we call save to home, we try to use this to reduce the operational cost of organization and we spread the payment for organizations.”
Adetola added that” The initial cost might be higher but the return on investment (ROI) will be there in less than two years. On the contrary solar panels have a longer shelf life than generators. Its’ return on investment is also better in comparison to buying and using generators for energy needs. In other to serve our customers we ensure to understand their consumption pattern to adequately design the system that works best for them. A common mistake is sizing inverter right but under sizing the solar panel and battery requirement.
As one of the companies signed by the Rural Electrification Agency to partner with them in closing the Energy gap by providing Solar Home Systems, Morton 78 came up with an initiative termed “The Reap Empower” where they focused on achieving 4 critical elements such as Providing technical and sales training to women and youths, Promote viability and cost effectiveness of solar energy in the community, Provide a source of empowerment and revenue generation to youths and small businesses and Breeding skill acquisition in communities.
To achieve these, they rolled out their initiatives in the Southwestern States of Lagos, Ogun, Oyo, and Ekiti States. “We understand that most Nigerians are daily earners who tend to be able to afford basic amenities daily. We had to infuse that concept into our thinking of how they currently use and afford power. Most of them tend to either buy petrol, diesel, kerosene or candles daily. Depending on these volatile sources for their electricity is having adverse effect on their spending habit and health in general. Creating ways of maintaining clean energy and daily affordable expense routine was a critical factor in determining affordability of providing them Alternative Sources of Energy”, Adetola opined.
Another critical factor is getting their buy-ins and trust in these Alternative Sources. Morton78 had to partner with people of Good moral standings and character in the community. These people became Advocates or people we call Gate keepers. In tandem with them, they were able to create a process to get people on our program for technical and sales training. In about 6months, Morton78 have been able to give sales and technical training to over 50 Nigerians and provide Alternative Power to over 1,000 Nigerians while impacting the lives of over 5,000 Nigerians. With a goal that in the next one year is to train over 500 Nigerians while providing power to over 10,000 Nigerians. Thus, impacting the lives of over 50,000 Nigerians.
On what sets them apart from the other players in the renewable ecosystem, Adetola made it known that “Innovation and we have a financial model. We have speed of attending to customers need. We believe that every Nigerian wants energy and we try to look at things from a point of view of real time. Our energy audit will enable the client to view things in real time, this helps them to understand their energy need. It is the level of transparency we have deployed to gain trust from our clients. Our advisory services have made them to appreciate us especially the big organizations like banks. Our Alternative Power solution ranges from a 5kwp solution termed as APS5 to 100kwp coined as APS100. These APS are modular and can be scaled up to 1MW. Big organization can deploy solar from banks to churches even cold room facilities. ”
ANTHONY EMEKA NWOSU
The initial cost might be higher but the return on investment (ROI) will be there in less than two years. On the contrary solar panels have a longer shelf life than generators. Its’ return on investment is also better in comparison to buying and using generators for energy needs. In other to serve our customers we ensure to understand their consumption pattern to adequately design the system that works best for them. A common mistake is sizing inverter right but under sizing the solar panel and battery requirement.