South African financial services group Standard Bank is urging its short-term insurance customers wanting to replace faulty or burst electric geysers to do so with solar-powered ones, which will help them cut down on electricity usage and save on energy costs.
According to a statement this week, Standard Bank says that traditional electric geysers are responsible for up to 50% of a household's monthly electricity bill, though homeowners are cautious about moving to solar energy because of the costs involved.
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