Generate your own electricity: The Nelson Mandela Bay municipality is the first in the country to allow net metering
You may have noticed lately that more residences and businesses are being equipped with photovoltaic solar (PV) roof panels. The reason is relatively simple: the cost to do so has dropped dramatically over the past few years and reasonable financing options have become available.
The Nelson Mandela Bay Municipality has been progressive in its approach to renewable energy and, as the first municipality in the country, has initiated net metering. Net metering allows you to run your electricity meter in reverse from the energy generated from your PV system. As energy prices escalate, the income generation will not only pay off the repayment on the amount financed but also yield a return on investment greater than savings in the bank.
If anyone has ever wanted to be part of the Green revolution, the opportunity has become available and the time is now.
Funding has also become more readily available and banks are willing to provide the vast majority of the equity financing for PV installations. The successful closure of financing has boosted developer and manufacturer confidence and this is evidenced by new sales, service and manufacturing offices throughout the country.
Leading retail banks and the French Development Agency have also launched a Green Energy Rebate that offers an exclusive incentive for those investing in energy efficiency or renewable energy. The rebate may be up to 7% of the loan amount for clients who qualify for a loan of up to R100 million.
The Department of Trade and Industry is also offering a Manufacturing Competitive Enhancement Programme which provides for cash grants on a cost sharing basis of between 30% and 70% of qualifying costs.
Many consumers are not familiar with PV and are afraid to invest in this “new” technology as they are unsure of how it works and how it will affect them, especially financially. At present most users of PV are innovators who see the benefits of reduced electricity bills and who are concerned about the environment.
Fortunately, more and more people are becoming aware of the need for green energy and they are starting to realize the benefits our positive actions will have on the future of our planet.
We at Genergy have a thorough understanding of the benefits and advantages, be they technical or financial, of Green Energy. For expert advice do not hesitate to contact us.
Photo Caption: Solar Panels could help reduce your electricity costs at the end of the month. Photo courtesy of www.greenfudge.org
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