Financial services provider Capitec has commissioned solar installation company Impower to design, install and maintain an electricity solution that integrates both solar and a battery backup system, at its headquarters in Stellenbosch.
The banking giant says it has turned to solar as a long-term solution to reduce its reliance on the national grid, minimise energy costs and play its part in contributing toward net zero.
The high-level design specification installed by Impower includes a 715 kW design, merging ballasted and roof mounting structures and integrating a 500/400 kWh battery, an onsite generator and the facility’s building management system.
The system is expected to have a yield of 1.2-million kilowatt-hours in the first year after commissioning and 21.6-million kilowatt-hours over a 20-year period.
Over and above the large-scale solar installation, Impower is supplying Capitec with a battery backup system that ultimately reduces peak energy costs.
While conventional battery backup systems typically remain idle until a power outage occurs, this design performs peak-shaving.
Therefore, Capitec can now consume energy within peak times while simultaneously trimming costs.
Further, such designs can be integrated with diesel generators to provide another layer of energy reliability and reduce operational spend on diesel.
Importantly, the return on investment of the battery system is considered to be minimal.
Capitec outlines that about two years ago, the payback period was 7.5 years, in contrast to now, at about three years. These improvements are owing to the cyclical nature of the technology which ultimately generates revenue in the short to medium term, the bank says.
Capitec says the solar project will reduce its greenhouse-gas emissions by 22 211 t of carbon dioxide over the lifetime of the project.
Capitec highlights that it has been a longstanding client of the Stellenbosch municipality, which has assisted the bank to acquire its small-scale embedded generation application.
Any system greater than 350 kW must undergo a grid integration study. At 715 kW, this project was deemed a candidate for the study, and owing to assistance from the municipality, Capitec’s evaluation was conducted efficiently.