Since the start of the fiscal year 2022/23, Cape Town businesses and households have earned more than R25.8 million through the City’s Cash for Power programme. This comes after the City became the first metro to purchase surplus solar PV power from small-scale generators in exchange for municipal bill credits and cash.
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Mayor Geordin Hill-Lewis stated that key policy changes have allowed power sellers to earn credits against their total municipal bill as well as receive cash for power fed back into the grid. Previously, sellers could only receive credit for their electricity bill up to a zero balance.
As of 1 February 2024, 1 461 sellers were benefiting from Cape Town’s Cash for Power scheme, which is part of the City’s larger plan to eliminate loadshedding over time. Of these sellers, 592 are commercial/industrial and 869 are residential.
‘We are transitioning this city’s energy mix to a far more decentralised supply of reliable, cost-effective and increasingly carbon-neutral energy that will come from a diverse range of suppliers,’ said Mayor Hill-Lewis.
‘That must be the future for our country too, and Cape Town is showing the way. The most exciting part is that residents and businesses are going to play a crucial role in helping us to end load-shedding by working together as Team Cape Town.’
‘The City will buy as much solar power as households and businesses can sell to us under the Cash for Power programme, with 25 million kilowatt-hours (kWh) already bought as at 1 February this year.’
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‘In the 2022/2023 financial year, we paid more than R10,5 million to Capetonians for their power, and in the current financial year we’ve already paid over R8,8 million. That’s a total of R19,4 million just on the feed-in tariff alone, plus a further R6,4m when including the 25c per kWh incentive we’ve added to encourage participation.’
‘I consider this some of the best money we’ve ever spent and cannot wait to see how this programme expands even more over time. Not only are we adding crucial kilowatts to our grid at a cheaper cost than Eskom’s supply, we are also putting money back in the pockets of Capetonians. That is how you democratise energy and truly put power in the hands of the people.’
Municipal bills are automatically credited, with the option to apply for cash above a zero balance. Businesses have been able to earn cash for power since June 2023, and residents can now earn cash through a first application window that is open until March 8.
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Picture: Matthew Henry / Unsplash
