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Rooftop Solar PV and Your Pocket

  • 9/6/2017 11:03:00 AM
Rooftop Solar PV and Your Pocket

Climate change and the effect it has on individuals and businesses is very real. As a continent that is already suffering from dry, hot conditions, climate change is placing further strain on water scarcity. The rise in temperatures will lead to increased air pollution in order to counteract them. According to a study published in the Nature Climate Change, and reported on by Health 24, a rise in air pollution is fatal to an even further 60 000 people across the globe who will die premature deaths by 2030. The statistics look even more grim from the year 2100 onwards as 260 000 people will suffer premature deaths annually at this rate.

South Africa ranks 16th on the global emission list with the average South African contributing to 8.9 tonnes of carbon emissions per capita. According to The Carbon Report this number is of the highest in the developing world. Government has committed to an emission reduction of 34% by 2020 and 42% by 2025.Although the emissions for a business far outweigh that of a person, individuals can no longer ignore the effect of their own footprint. Everyone has an important role to play in creating a sustainable future.

Making use of renewable energy will drastically reduce household as well as business carbon emissions.

The benefits of investing in a rooftop solar PV system is plentiful:

  • It’s cost-effective: These days solar PV systems are more affordable and will save you a lot of money over the long-term.
  • It’s free energy: The energy generated from the solar PV panels are free.
  • Solar energy is forever: Compared to other energy resources, solar is forever and will never run out. As long as the sun is shining energy can be generated via a solar PV panel.
  • It’s eco-friendly: A solar system allows you to generate energy without emitting any carbons into the air. It also doesn’t require water, something that is a scarce commodity in Africa, to create energy. Businesses opting for rooftop Solar PV can add their eco-friendly status to their profiles as consumers see this as an added-value.
  • It is space-sensitive: Solar PV panels utilise unused space and batteries are easily mounted to the wall of a garage as to take up as little space as possible.
  • You’ll receive a tax break:As per section 12B, SARS will give you a 28% tax deduction incentive on capital spend.
  • Funding options: There are three types of options to fund a rooftop solar solution. You can fund it yourself, have it funded through a credit provider or alternatively, make use of a Power Purchase Agreement
    where an investor owns the system and the power is sold to you at a lower rate than the grid tariff.

Here is how the above three options will affect your pocket: