(Landed) Residential Owners, how much can one save by going solar* based on 3 different scenarios? *T&Cs apply
Here are the top three reasons you should power your home with Solar.
1. Reduce your Electricity Bills
You'll be surprised by the amount you save every month when you go Solar. Contrary to popular belief (and misconceptions), solar energy is more wallet-friendly than conventional energy!
Many clients ask us, "How much can I save with Solar?" Well, the exact figure is unknown as every household's consumption pattern varies. As there are differing energy rates for the consumption and export of energy in Singapore set by your energy supplier and Singapore Power, we will not be able to advise you the exact figures for your house. These rates are also subject to fluctuations depending on cost of energy.
Here is an example of 3 different scenarios, based on several assumptions made, to illustrate one's monthly savings on solar depending on the percentage of electricity they consume and export. Do take note that prior to installing a solar system in Singapore, the owner paid around $547.87 every month for his electricity bill.
For instance, in Scenario 1, 70% of solar energy is consumed by the household while 30% is exported back to the national grid.
Disclaimer: All figures below are based on assumptions and estimations and should not be taken at face value. Actual rates such as export rate might differ. We urge you to exercise due diligence in all calculations. All figures are in SGD and exclusive of 7% GST.
Scenario 1 – 70% Consumed, 30% Exported
In this scenario, the owner now pays $264.27 for his electricity bill (Lower Electricity Bill because of lower consumption after consuming solar energy). SP Group separately pays $92.82 to the owner for the exported excess solar energy. The owner's net energy cost in a month after installing a solar system is around $171.45.
Scenario 2 – 50% Consumed, 50% Exported
In this scenario, the owner now pays $345.30 for his electricity bill (Lower Electricity Bill because of lower consumption after consuming solar energy) but he earns more from selling his exported excess energy to SP Group, which he gets $154.70 for. The owner's net energy cost in a month after installing a solar system is around $190.60.
Scenario 3 – 30% Consumed, 70% Exported
In this scenario, the owner now pays $426.33 for his electricity bill as there is less consumed but he earns more from selling his exported excess energy to SP Group, which he gets a whopping $216.58 for. The owner's net energy cost in a month after installing a solar system is around $209.75.
Based on all 3 scenarios, you must have noticed that the net energy cost is the lowest at $179.70. This is because Scenario 1 has the highest amount of consumed solar energy. In Singapore, it is more profitable for solar energy to be consumed than to be exported as the export rate is lower. For more information on the various scenario for your home, please contact us at enquiries@solarpvex.com for a non-obligatory discussion. 😊
2. Fight climate change
A large number of home appliances and devices, from charging cables to air-conditioners, require varying amounts of electricity to function. Much of the energy that we need to go about our daily lives is dependent on the burning of fossil fuels, which contributes to the depletion of the ozone layer, and hence results in global warming. The effects of the ever-increasing rate of global warming are already thoroughly felt worldwide, with prime examples such as Australia's raging bushfires and hotter weather here in Singapore. Unlike conventional energy, solar energy does not harm the environment at all. The sun is our unlimited source of energy. By going Solar, you are making a much bigger and tangible impact than you can imagine in the fight against climate change.
3. Protect your roof
Solar panels help extend the lifespan of your roof, protect your roof from harsh weather conditions and provide cooling effects for your property. All in all, they serve to play a functional role in towards urban sustainability. A bonus? Solar panels also increase the aesthetic value of your property and increase your property value as well.
In summary...
If you want to save money in the long run, fight climate change and also insulate your roof, you have come to the right place. Going Solar is a smart decision. Contact SolarPVExchange at enquiries@solarpvex.com now to find out more about installing Solar in Singapore!