Wetility

Positioned as a key player in South Africa's renewable energy sector, Wetility addresses the market's need for dependable power amidst the unreliability of the national grid. The company, founded in 2019 by Vincent Maposa, Ikenna Oguguo, and Tshifhiwa Nekhavhambe, is headquartered in Sandton, South Africa. It emerged to serve the residential and SME sectors, which were largely overlooked by a solar industry focused on larger commercial and industrial clients.

Wetility operates on a solar-as-a-service model, providing comprehensive energy solutions to households and businesses across South Africa. Revenue is generated through monthly subscription fees for its bundled offerings, which make solar energy accessible without a significant upfront capital investment. This subscription model covers the installation, maintenance, and insurance of the entire solar system, which remains the property of Wetility. Customers can choose from various plans, including a 36-month subscription with options to extend, upgrade, or purchase the system afterward, or a lease-to-own plan spanning up to 120 months.

The company's core product is an integrated solar and battery storage system designed to provide a consistent power supply. This solution includes rooftop solar panels, a hybrid inverter, and lithium-ion batteries. A key feature is the "AI Mode," a real-time energy optimization system developed in partnership with inverter manufacturer GoodWe, which dynamically manages power flow between solar generation, battery storage, and the grid based on weather forecasts, usage patterns, and load-shedding schedules to maximize savings. Clients manage their systems through the Wetility App, a digital platform for monitoring energy production and consumption, tracking savings, and receiving alerts.

Since its first system launch in 2020, the company has secured significant funding to fuel its expansion. Notable funding rounds include securing R903 million (~$48 million) in debt and equity in September 2023, with investors like MultiChoice and Sanlam, and a further ZAR500 million (~$27.8 million) in a structured deal with alternative investment manager Jaltech in June 2025. These capital infusions are aimed at expanding the company's reach to over a million customers and deploying significant solar capacity.

Keywords: solar-as-a-service, renewable energy, energy storage, subscription model, residential solar, SME energy solutions, power grid alternative, fintech, CleanTech, energy management