AIthough Eskom may have suspended load shedding and despite the fact some solar energy supplier companies are in trouble, the boom in this form of alternative energy is far from over, say experts.
In 2019, research by Sustainable Energy Africa found that there are financial and environmental benefits of moving from Eskom electricity to solar power through financing solar photovoltaic systems with storage through a home loan, which is a lot cheaper.
Energy experts agree that this is true even in 2024, with the lessening in load shedding.
The research suggested that the cost of solar panels decreased by more than 10% annually, while Eskom's prices are constantly increasing.
This means it is more costeffective to have a solar system, but solar power systems are not cheap.
Energy economist Lungile Mashele said the cost of solar installations is prohibitively expensive. "Most people were taking out loans or making payments in excess of Riook just to afford the system. Others are tied into monthly contracts."
This story is from the August 27, 2024 edition of The Citizen.
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This story is from the August 27, 2024 edition of The Citizen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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