Public transport systems are primarily there to serve the poor and disenfranchised. These South Africans usually live the furthest from places of employment and spend ~43% of their monthly household income on transport costs.
At the same time, South Africa needs to decrease greenhouse gas (GHG) emissions, and transport accounts for 10% of the country’s emissions. Conventional buses are heavily reliant on liquid fuel. This is a carbon intensive fuel source and one that presents limited efficiencies and high GHG emissions.
Electric buses (e-buses) demonstrate the best business case for transitioning cities to cleaner, sustainable transport. However, the upfront cost of an electric bus is a lot higher than a conventional diesel bus
Pay-As-You-Save (PAYS) eliminates the biggest barrier to the uptake of e-buses – the upfront capital cost of purchasing the e-bus.
GreenCape have developed an industry brief that makes the case for PAYS as the financial mechanism to facilitate the transition from diesel buses to e-buses. Download our PAYS financing industry brief here.
Watch more on PAYS below: