You may have noticed lately that more residences and businesses are being equipped with photovoltaic solar (PV) roof panels. The reason is relatively simple: the cost to do so has dropped dramatically over the past few years and reasonable financing options have become available.
The Bay Municipality has been progressive in its approach to renewable energy and has, as the only Municipality in SA, initiated net metering, whereby you can run your electricity meter in reverse from the energy generated from your PV system. As energy prices escalate, the savings achieved wil yield a return on investment greater than savings in the bank and this will increase as electricity prices increase.
If anyone has ever wanted to be part of the Green revolution, the opportunity has become available and the time is now…
Funding has also become more readily available. Banks have stepped up to provide the vast majority of the equity financing for PV installations. The successful closure of financing has boosted developer and manufacturer confidence, evidenced by new sales, service and manufacturing offices throughout the country.
Large retail banks have also launched a Green Energy Rebate that offers an exclusive incentive in the form of a rebate of up to 7% of the loan amount. This is available to clients who qualify for a loan of up to R100 million used in Energy Efficiency or Renewable Energy.
The Department of Trade and Industry is also offering a Manufacturing Competitive Enhancement Programme. This Programme provides for cash grants on a cost sharing basis of between 30% to 70% of qualifying costs.
Most consumers are also not familiar with PV and are afraid to invest in this “new” technology as they are unsure of how it works and how it will affect them, especially their pocket. It appears that only “innovators” and “early adopters” will take the risk. Once the new technology and value is understood, many should jump aboard and enjoy the benefits of reduced electricity bills due to generating electricity themselves and being more sustainable.
Fortunately people are becoming more aware of the environment and we are starting to realize the benefits our positive actions will have for the future of our planet and that it is no longer a risk or luxury but a necessity.
For expert advice do not hesitate to contact us.