Solar PV installations are becoming more viable and sometimes necessary, as the cost of energy from coal increases at considerably high rates. The last few years has seen electricity increases in excess of 20% per annum and which are likely to stay significantly above inflation in the range in the future.
The sharp increases in the price of electricity, decreasing cost of PV technology, decreasing cost of battery storage, zero fuel input cost and the long life of systems makes rooftop PV installations increasingly feasible – even where the full project cost is borne by owner without any rebate or incentive.
Solar PV installations are growing in South Africa as a result of a combination of factors:
– The cost of the technology is decreasing, thereby making investments more viable
– Sharp increases in the cost of electricity and increasing issues related to security of supply
– Zero cost of raw material, extended life of the panels (>20 years) as well as low maintenance costs further increase the viability of implementing the technology
– Solar radiation resources in South Africa are amongst the best in the world