tag:blogger.com,1999:blog-64028775763228255.post4295321428052731316..comments2023-10-15T11:30:30.750+02:00Comments on My Power Station South Africa: Should South Africa really have 426 GW of electricity?David Lipschitzhttp://www.blogger.com/profile/16552017391450620612noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-64028775763228255.post-42497687578263466992015-06-20T08:45:24.608+02:002015-06-20T08:45:24.608+02:00I wrote this in 2012:
South Africa is very far be...I wrote this in 2012:<br /><br />South Africa is very far behind with its electricity provision. We should be at 80 GW at the moment and we have 38 GW. The Integrated Resource Plan (IRP2010) says that South Africa will have 85 GW by 2030, but in order to secure job growth we need 85 GW by 2020 and 160 GW by 2030. So we are thinking way too small.<br />Yet Eskom's expected spend by 2030 is a staggering R2.3 trillion. ie R2,300,000,000,000!<br />And this money needs to be borrowed.<br />Yet the beauty of renewable energy is that new money is NOT required. All that is required is that homeowners and SMME's commit to spending what they are currently spending on Renewable Energy instead of Coal and Nuclear Energy. ie if you are spending R1,800 per month now, then with RE you can fix your costs at R1,800 per month forever. This is called Solar Leasing.<br />However, the Banks and Investment companies continue to protect their large investments in Fossil Fuel because of the very long lead times from project inception till project completion, sometimes 12 years, so if a bank has R250 billion tied up in Coal Power Station Financing, then that Bank doesn't want to lend to small Renewable Energy (RE) power producers because their long term capital might be at risk.<br />But in South Africa every single existing power station needs to be rebuilt in the next 30 years, and we are already 40 GW behind with our electricity grid and another 80 GW is required to be built in the next 30 years. So we need 160 GW of new build by 2030. China will add at last 1000 GW to its grid by 2030!.<br />The only way this can be done is with distributed RE. And local Banks should be the leaders in Solar Leasing in South Africa.<br />The market size is R100 billion per annum and growing.<br />It is a no-brainer for banks to lend to homeowners and to secure the investment against their bond and house and RE asset. This will be at no additional cost to the homeowner!David Lipschitzhttps://www.blogger.com/profile/16552017391450620612noreply@blogger.com