Cape Town - The City’s “cash for power” plan has been hailed as a game-changer by a Cape Town businessman who was an early investor in the renewable energy industry with regards to the manufacture of solar panels locally.
On Tuesday, mayor Geordin Hill-Lewis said that from June Capetonians would be able to earn money from the sale of excess electricity back to Cape Town’s grid.
Suntech Power SA chief executive Muneeb Gambeno said on Wednesday that until now the challenge for commercial and industrial clients who can generate electricity has been what to do with excess energy.
“They run operations from Monday to Friday, but even when they are not working at the weekend, they are generating power. Now they have an outlet. This is a game-changer,” he said.
Gambeno said he was aware that solar panels were an expensive solution for ordinary domestic users.
“If we get it right, it will get cheaper eventually. But for now our people are struggling and mothers on the Cape Flats and elsewhere still have to decide whether to put their R10 towards electricity or something else they need.”
However, he said banks have been catching up and have begun making offers to finance a solar-energy solution through home loans.
There are also innovative financing solutions available such as that offered by a Pretoria-based company, Alumo Energy, that has a rental payment option.
Managing director Rein Snoeck-Henkemans said that for a once-off initiation fee of R10410, and a monthly cost of R1 883, homes can be fitted with a 5kW inverter, a 3.6kWh battery and six solar panels.
“This is enough to power a fridge, freezer, up to 20 LED lights, security system, three electronic devices, a television and more. Plus, within seven years homeowners own the system outright, and the system can also be scaled up depending on your needs.”
In November last year the Reddam House school in Constantia, part of the Inspired Education Group, embarked on a renewable energy programme to produce 40% of the school’s power needs.
Group chief executive Ravi Nadasen said the new solar system would potentially generate 440.610 kW hours of energy annually, or the equivalent of the power used by more than 40 households per year.
