Skip to content

Electric to Solar Geyser replacement ABSA Insurance, South Africa


Project development document

Project impacts and benefits:

  • This project reduces South Africa’s dependence on fossil fuels for power generation, providing clean electricity to a nation in need of power.
  • Provides real estate energy resilience and Net Zero by 2050 trajectory, by covering solar water heating for insured residential homes across the nation, reducing citizens Scope 1 and 2 emissions from installed capacity.
  • Reduces air pollution by replacing coal and other fossil fuel fired power plants with clean, renewable power SDG7.
  • Raises awareness and provides capacity for climate change mitigation, adaptation and impact reduction. By saving 30% on their bill using solar water heating, renewable awareness extends to the home for deep decarbonisation.
  • Prosumers seeking portfolio reduction of up to 28 000 to 280 000 tCO2e annually.
  • Sustainable impact methodology includes solar water heating systems per UNFCCC CDM 13th edition AMS-I.J methodology.
  • Project of Activities includes multiple Solar PV geysers on 28 000 new homes annually and geyser monitoring directly supporting green economic activity across inner city and suburbs.
  • Year of offset credit or Vintage: 2021, 2022
  • To buy on the Metaverse, or with Crypto, please register on our community and we will share which specific token to purchase for this project.
  • Promotes Water Efficiency as a sector committed to minimising greenhouse gas emission through grid decarbonisation and energy efficiency improvements in real estate.
  • Project sREC priced per Ton of CO2.

28000 in stock

Located across 280 000 electric to solar geyser conversions during claim stage as part of a portfolio of citizens with ABSA Insurance. Rollout is a few thousand homes annually. The project produces renewable solar energy across solar geysers where there is an exchange of an old geyser under insurance, for sustainable infrastructure contributing to local Net Zero.

The project is the Johannesburg Stock Exchange listed Insurance company’s first implementation since the Climate Change bill of 2022. There are plans to increase the renewable energy generating capacity of the portfolio of other insured activities in future. The energy produced will alleviate the current power constraints on the national grid by 28MW annually. The project is 2015 Paris Agreement and UN SDG aligned.