There has been unprecedented demand for solar and alternative energy equipment and quotes over the past few days due to load shedding but stock remains in short supply, a feature that is likely among all local distributors, Ellies CEO Shaun Prithivirajh said yesterday.
Ellies, the listed wholesaler, importer and distributor of LED lighting, electrical and electronic products for the residential and commercial sectors, is in a “transition” phase to focus more of its products towards alternative energy and solar power solutions.
The share price lit up by 7.05% to 15 cents on the JSE yesterday afternoon.
Prithivirajh said in a telephone interview yesterday South Africa was at the “tail-end” of solar panel markets, as the energy crisis in Europe had driven demand for solar panels and equipment to that market, in spite of its relatively few sunshine days.
In addition, Covid-restrictions in China over the past few months and which were only now beginning to ease, had also tightened supplies of solar equipment on the global market, he said
Prithivirajh said solar was fast becoming the only really viable power alternative to Eskom, as power inverters could only provide limited power to homes and offices for short periods, or two to four hours. It was unlikely that the Eskom crisis was going to abate soon, he said.
He said there were many suppliers of solar equipment in South Africa, but many of them were simply businesses “on the internet”, which “close down in a flash,” in the event of any issues with their customers.
“In a few years, Ellies will be synonymous with solar equipment in this country. We’ve been around for 42 years, we are a solid, reliable brand,” he said.
Ellies had a tough first six months of its 2022 financial year, after sales of alternative energy equipment through load shedding earlier this year was too late to be included in the interim results, and after the company battled with supply chain issues and other challenges.
In the six months to October 31, 2022, the company’s comprehensive income fell 258.7% to a loss of R20.2 million.
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