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Pay As You Save® (PAYS®)
The document introduces Pay As You Save (PAYS) as a financing model to accelerate the transition from diesel to electric buses in South Africa. By shifting the cost of batteries and charging infrastructure from the bus operator's balance sheet to a municipality-managed on-bill tariff, PAYS removes the primary barrier of high upfront capital costs. The model benefits bus service providers through immediate operational savings, utilities through increased electricity revenue and secure cost recovery, and capital providers through reduced risk by lending to creditworthy municipalities.
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Document type: Briefing