Enjoy High Returns When Going Solar
Cape Town – It could be time for households to examine alternative forms of energy after Eskom was given permission on Wednesday to raise electricity prices next year above the 8% previously granted.
The adjustment should enable Eskom to recover R7.8bn in revenue from consumers after its costs exceeded projections between 2010-2013, said the National Energy Regulator (Nersa).
Eskom wanted to increase earnings by R18.4bn.
According to Gareth Warner, Managing Director at Solarcentury Africa, this is good news for those already using solar power – and for those considering it – in that the more expensive grid electricity gets, the more cost-effective and affordable solar power becomes.
“This is because the pay-back period becomes shorter, giving end users a better return on investment.”
For example, a household with a high-consumption tariff of R1.65 per unit that installs a 5kWh photovoltaic system will save on average R22 000 per year, recouping the R95 000 capital investment cost in less than 5 years. Obviously smaller packages are available for househoulds, and larger systems for farms and industry, but all with a great return on investment.
For the commercial sector, solar PV systems offer an attractive internal rate of return (IRR), especially considering solar electricity is free after the initial payback period, presenting an effective cost-saving alternative, said Warner.
In addition, it’s much easier to budget for the monthly solar PV system instalments rather than digging deeper into company profits to pay for fluctuating and unpredictable energy bills.
Solar also offers businesses a way to cut their carbon emissions and reduce their environmental impact. Further, reducing reliance on the grid by using solar electricity to meet part of their energy needs means that businesses will be less impacted by the continuous electricity price rises or the impending carbon tax.
Phone Leakfind Solar now at 021 551 4894 or email at:firstname.lastname@example.org for a free quotation.
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– Source: Fin24