Grid tie hits parity (same price) with City of Cape Town electricity costs

Much more detail here.

Summary:

Grid Tie Photovoltaic systems have become the same price as electricity prices in the City of Cape Town for homeowners, if one excludes VAT. Email david at mypowerstation.biz for proof. Electricity for a house which uses 1200KWH per month costs R1.13 per kwh excluding VAT. A medium size Photovoltaic (PV) system costs R1.13 per kwh if borrowing costs are 7% and including Operation and Maintenance costs. If a large cash investor who is earning 7% interest takes money out of her bank account and invests it, she would want to earn a return of 7% or more. She can finally do this in South Africa, 3 years before the Renewable Energy Industry expected, mainly because the City of Cape Town has increased electricity prices so much and because the cost of installing Grid Tie PV systems has halved in the past 3 years.

All we need now is for the Business and the Citizens of Cape Town to convince the City to allow Grid Tie Systems that Reverse Feed the Grid and Net Metering to allow one to buy and sell electricity at the same price. None of this needs research or inventing. It is already happening all over the world, but not in South Africa.

Let's work together to make this City "a City that works for all."