What to look out for in 2021?
More savings and shorter payback period for Solar PV owners?
On a previous blog, we talked about how to better project your payback period of the solar system, including its factors. It is important to understand how varying energy prices affect your payback period. With an expected improving economy for 2021 (fingers crossed) and inflation, we expect the electricity tariff to increase and as such, the payback period for owners with solar PV system to be shorter with more savings from the system.
Given that there will be an increase in GST (though not in 2021 as proposed by the government), this tax hike will mean 2 things:
1. You will enjoy more savings as a result given that you will be producing your own energy during the day and hence consuming less from the grid. Therefore you will be paying less as a result even with the increase in GST.
2. Next, if you are considering to install solar PV system for your building but are still undecided, you might want to do so in this year in 2021 (before the increase in GST). Furthermore, the sooner you switch to solar, the sooner you start saving. 😀
More EV Charging Stations for 2021
With the government's (strong) push towards Electric Vehicles (EV), we are starting to see more and more EVs and EV-related solutions springing up in Singapore. As such, we are also looking to incorporate EV charging stations (such as Charge+ charging stations) into our suite of solutions for 2021.
If you are looking for a complete Solar PV system with EV charging stations, do contact us at enquiries@solarpvex.com.
More Efficient Solar PV Products (solar PV panels & inverters)
Over the past 5 years, we have seen the power output of solar PV panels increase from from 200+W to over 400+W, which is a whopping 100% increase in efficiency and it is likely to continue to grow.
Besides solar PV panels, inverters are also getting smarter with more in-built monitoring features and some even are already to accommodate energy storage systems (ESS) when the technology is safe and commercially viable.
And we at SolarPVExchange, will continue to look for more efficient & high quality solar PV products when building our solar PV projects.
Summary:
We hope this blog helps you in planning for your next sustainable energy system. Hopefully we can be a part of your journey towards a lower carbon environment and more sustainable future. Last but not least, wishing you a safe and happy 2021 ahead.
If you'd like to find out more about getting a high quality solar PV system (with EV charging station), drop us an email at enquiries@solarpvex.com and we will get back to you as soon as possible. 😀