New Solar Scheme benefits Cape Town Commercial Property Owners

Category Editorial

In light of the anticipated economic downturn in 2023, the recent announcement by Cape Town's mayor that the city's Treasury has waived the requirement to tender for the supply of self-generated solar power back to the local grid is welcomed news for the commercial property sector in the region. This initiative is expected to provide several benefits to property owners, including the ability to conduct their operations without disruptions and establish an additional source of income, which could increase at NERSA-approved rates. Furthermore, this scheme will contribute to the economy at a macro level.

In addition to the pressing issue of ensuring a reliable power supply, the city is also facing challenges related to high unemployment rates and a general economic slowdown. The implementation of this new initiative is expected to support employment and economic growth in the area. According to Cape Town Mayor, Geordin Hill-Lewis, commercial customers will be eligible for payments before June 2023, while residents with approved generation capacity will receive payments within the year.

Furthermore, the City will offer customers participating in the initiative an incentive above and beyond the NERSA-approved tariff, making it an attractive proposition for anyone with the necessary capacity to join the scheme. However, it is important to note that property owners with asbestos roofs will not qualify for the scheme.

Author: Spire