It’s true, GOING SOLAR CAN SAVE YOU MONEY! Not only can you drastically cut your electricity consumption from Meralco and thus reduce your Power Bill by 50% or more, but you can actually generate additional power from your rooftop and let Meralco buy back your UNUSED Energy and pay you the retail rate.
On top of Saving money from your electricity you also INCREASE the value of your property and by as much as 20 Times the actual cost of the Solar Panels. Not to mention, you benefit your community and your country which is in desperate need of new power sources. The Philippines Commissioner of the ERC just called for President Aquino to announce the state of emergency regarding the shortfall of electricity in Manila coming in 2015. Now is the time, Meralco came up with the program to comply with the Renewable Energy Act of 2008 which allows each homeowner to have up to100 kWp (kilo-Watt peak) of installed solar panels under net metering. (READ: DOE to add more renewable energy in grid by 2014)
In June, Meralco announced they had finalized the Implementing Rules and Regulations (IRR) for the net metering program. This is Radical New Changes in the electricity business and now for the first time ever in the Philippines you can plug your panels directly into Meralco’s power grid and lower your bills significantly.
I recently created the short infographic below to highlight the 20-year savings from going solar in some of the most populous states in the country, as well as in Hawaii, which has the greatest average savings per project.
Philippines has the best SUN exposure, 5 times more than the United States year round. Thus Solar is the perfect renewable energy source for consumers. Safe, environmentally friendly, Low Cost, Efficient and Works Long Term.
Notably, those savings are based on 2011 research. The cost of solar has dropped tremendously since then, so the savings should be even greater (on average). The specific data points — average 20-year savings from going solar — for those states are as follows:
- California: $34,260
- New York: $31,166
- Florida: $33,284
- Texas: $20,960
- Hawaii: $64,769 (Closely related to the Philippines in terms of Climate and Weather)
These numbers were included in a great solar power info-graphic. Look at the savings potential but most notably in Hawaii which is similar in terms of climate to the Philippines.
These savings are tremendous. Even the national average (again, in 2011, when solar panels were much more expensive) is above $20,000! How much are solar panels… going to save me? That’s the question to ask. (Of course, you can request a quote on Cost of Solar to get a savings estimate and even a follow-up site visit for a more exact estimate, and it will also give you an estimate of how much solar panels for your house or business will cost.)