Kenya Power to Cut Electricity Cost by Switching to Solar
Kenya Power engineers carry out repairs at a power sub-station in Mombasa County in 2018
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Kenya Power plans on cutting the cost of electricity bills in the country by replacing its thermal power stations with solar and wind electricity generating machines. This will see the electricity distribution company switch from fuel-powered engines.
The company had on January 2, said that the move will reduce the effect of fuel on power consumer s bills. Electricity bills are based on foreign exchange fluctuation, hydropower levies and fuel charges.
Kenyans are expected to pay record-high electricity bills for the period between January 15 and February 15 after the Energy and Petroleum Regulatory Authority (EPRA) adjusted electricity tariffs, charges, prices and rates on Friday, January 15.
The prospects for renewable energy look good in 2021. The mood around the world has shifted. At opposite ends of the Earth, China has adopted a target to cut net carbon emissions to zero by 2060, while US President Joe Biden rejoined the Paris Agreement on his first day in office. And here in the UAE, the number of renewable projects and amount of new capacity brought online in 2020 will continue to accelerate.
In the world of business, clean energy firms are taking financial markets by storm, as shown by Tesla recently joining the S&P 500 share index as one of its largest members. Meanwhile, tax credits and subsidies have allowed renewable technologies to scale-up significantly in many parts of the world, helping to drive down their costs. Solar and onshore wind farms are now the cheapest new electricity options for up to two-thirds of the global population, according to BloombergNEF.
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