Solar hot water systems have just become a lot more affordable, that is for the short term anyway.
On the 11th January 2010 Eskom increased the rebates on our 200-litre and 300-litre solar hot water systems.
The rebate for the indirect 200-litre system has increased from R2, 082-00 to R3, 853-00, with the direct system increasing from R2, 500-00 to R4, 627-00.
The rebate for the indirect 300-litre system has increased from R3, 100-00 to R7, 627-00, with the direct system increasing from R3, 943-00 to R9, 702-00.
Eskom have said that the new solar programme rebate has been calculated to allow consumers a 5-year payback for the installation of a solar water heating system. This calculation is done taking into account the average cost of systems, average savings per system, average electricity tariff rate and cost of capital at prime interest rate per various system sizes. This rebate will be reduced annually in accordance with the electricity tariff increases.
This increase in the rebate will be decreased each year or after a specified number of installations; these targets will be set at a later date. The decrease will be calculated according to Eskom electricity increases each year.
Below is a graph illustrating the projection of the rebate amount over the next five years, a steady decrease in the rebate is indicated.
