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- Over R17 billion was spent on new generation projects in SA in just three months this year, with the lion's share going to solar PV.
- Retailers and property groups in South Africa have all invested in solar PV, including Shoprite, Pick n Pay and Growthpoint.
- In the past five years, more than 1 000 new generation facilities have been registered.
- For more financial news, go to the News24 Business front page.
SA businesses and residents alike are forking out billions on solar panels as the country continues to battle high stages of load shedding – with the regulator saying over R11 billion has been invested in solar PV technology during the third quarter.
Most new generation facilities – 71% of capacity – were dedicated to solar PV between July and September this year, the National Energy Regulator of South Africa (Nersa) said.
During those three months, Nersa registered 98 new generation facilities with 908MW capacity – seven for commercial purposes.
A total of R11.4 billion has been invested in solar PV technology, Nersa said, with companies investing just under R2 billion for alternative energy projects.
Total expenditure on new generation projects was R17.4 billion.
READ | ANALYSIS | Load shedding ruling leaves govt between a rock and a hard place
In the past five years, since 2018, a total of 1 185 new generation facilities have been registered, with a total capacity of 5 785MW. Nersa says solar PV is particularly popular due to its small-scale and large-scale generation possibilities, as well as the amount of sunlight in SA.
For retailers and property groups, solar has proved invaluable to keep operations running. Retailers Shoprite, Pepkor and Pick n Pay as well as property groups Growthpoint and Redefine all installed solar power generation at their facilities between July and September.
Earlier this year, Shoprite said it had installed 174 534m2 – or the equivalent of around 24 soccer fields – of solar panels across its 71 sites, generating 50 million kWh every year. This included distribution centres, Shoprite stores, and Checkers Hyper stores.
Group sustainability manager Sanjeev Raghubir said the choice to install solar panels was to increase operational hours during load shedding, and reduce the group's carbon footprint.
News24 previously reported the group had spent R100 million on diesel every month during stages 5 and 6 of load shedding, threatening profits to decline by 10% if the pattern persisted.
Meanwhile, South Africa's largest property group, Growthpoint Property, said its solar projects had produced 12 837MW per hour in 2022, aiming to reach 46MW of total capacity by the 2026/27 financial year.
This came as Reuters reported the group had spent R47 million in six months on diesel to power generators in the six months to end-December 2022.
Property group Redefine Properties has installed 36MW of solar PV capacity, the largest fleet of rooftop solar panels countrywide. Investments in solar power have amounted to more than R400 million.
Solar energy amounted to nearly 18% of the energy consumption at its malls in 2022, with a total of 34 706 295 kWh generated at properties in which it had a stake.
Chief operating officer Leon Kok credited the installation of solar panels with easing negative impacts on the company in the face of ongoing load shedding and severe cost pressures.
