SA spikes solar solutions

2013-09-02 09:37
Solar panels. (Duncan Alfreds, News24)

Solar panels. (Duncan Alfreds, News24)

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Cape Town - South Africa has jumped its investment in renewable energy in the last year, a reports says.

According to a report on the Climate Action Programme website, the investment into renewable energy topped $5.7bn, as measurement by the United Nations Environment Program (Unep).

Solar energy has gobbled up the majority of the investment, and several companies have installed solar solutions as a way to cut costs.

Google also recently announced its support for the Jasper Power Project in the Northern Cape province. The project is estimated to be able to produce 96MW of electricity and will cost $12m.

Investment in solar can be linked to the reduction of the cost of solar panels and though the initial cash outlay is expensive, the return on investment period has been shortened due to the rising cost of electricity.

Vodacom recently spent about R10m to build a photovoltaic solar panel on its Cape Town office and the operator said that it would recoup the cost in just over five years.

"A couple of years ago, you were looking at a return of investment of about 17 years for a simple payback model; it has come down to where you can reach payback anywhere between eight and 12 years, but with this particular project here, and also because we've entered into an agreement with Eskom, our payback is around 5.5 years," Chris de Jongh, manager of Repairs and Maintenance for Facilities South at Vodacom told News24.
Read more on:    vodacom  |  renewable energy

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