Investing in solar energy is a smart move for homeowners in the Philippines. Not only is solar energy an abundant, renewable resource, it’s also cost-effective and environmentally friendly. When you’re ready to make the switch to solar, you may be wondering what your costs will look like. Let’s take a closer look at the cost of solar panels in the Philippines and what you can expect when investing in this energy source.
Cost Breakdown
The cost of solar panel installation philippines system depends on several factors, including system size and installation costs. Generally speaking, a 5kW rooftop system (which is suitable for most households) can range from PHP 150,000 – 250,000 depending on your location and how much work needs to be done to install it. This includes all components such as PV modules, inverter(s), mounting systems, cables and other parts necessary for your system. This does not include labor and other fees associated with installation which could add up to PHP 30,000 – 50,000 depending on the complexity of your project.
Incentives & Tax Credits
You may be eligible to receive incentives or tax credits when you make the switch to solar power. Depending on where you live and what incentives are available in your area, you could receive some generous discounts off your installation costs. For example, homeowners who go solar with SunPower in Makati City are eligible for up to 40% tax credit from BIR under RA 9513 (the Renewable Energy Act). Other incentives include local government grants or subsidies that can help offset some of your installation costs. It’s important do research about what incentives are available before making any decisions about going solar so that you don’t miss out on potential savings opportunities or discounts.
Savings & Return On Investment
Going solar is an investment – but it’s one that pays off handsomely over time! When you invest in a quality rooftop system like SunPower’s Equinox® System with integrated battery storage solution, Powerwall 2 AC ,you can enjoy reliable electricity day and night with no interruption due to changing weather conditions or blackouts caused by storms or other events. Plus their 25-year product warranty means that they will replace components if they experience any defects during this period – giving you peace of mind knowing that your investment is protected. Your monthly electric bill will also be reduced significantly since most of your electricity usage will now be supplied by your own rooftop system instead of coming from traditional sources like coal-fired power plants which charge expensive rates per kWh consumed each month.. Over time those savings add up quickly!
Conclusion: Making the switch to solar energy is a smart move for homeowners in the Philippines who want access to clean electricity while reducing their monthly electricity bills over time too! Although there are upfront costs associated with purchasing and installing a rooftop system, these costs can be offset by taking advantage of local incentives such as tax credits or grants offered through local governments plus long-term savings when compared with traditional sources like coal-fired power plants which charge expensive rates per kWh consumed each month.. Ultimately it comes down to doing research so that you know what kind of return on investment (ROI) you should expect after making this important decision about going green!