South African companies are over-investing in solar power – and face risks by doing so

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Discovery Green Notícia

Solar,Industry News

A recent study by Discovery Green highlighted several key problems with how South African companies are approaching renewable energy.

Discovery Green recently conducted extensive research into how South African companies are investing in sustainable energy.

“We believe there is currently a pronounced bias towards solar energy and while the immediate financial benefits of solar energy are clear, there is a tendency to overlook the long-term consequences, opting instead for short-term gains,” said Andre Nepgen, Head of Discovery Green.Discovery Green’s study found that companies over-investing in solar – particularly embedded systems – may experience weaker long-term value due to “wasted” power.

Furthermore, when the sun is down, and solar energy cannot be used, a company must still source electricity from other sources. This will include the national electricity grid. This is up from 48% for companies that don’t have their own embedded solar generation and shows that solar primarily replaces a business’s peak electricity consumption – and does little to address “off-peak” electricity costs.

Companies must note, however, that providers of wheeled solar are also likely to use time-of-use billing.

 

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