http://limsolar.blogspot.com/2012/10/how-much-do-solar-power-systems-cost.html Section I
ON-Grid (Grid Connected Solar) – Your Solar power is connected to and interacts with the local Elec Company such as MERALCO, ETC.
A. The Electrical Consumption and Expense
Example:
Kwhr of electricity used 600 kwhr/month
Basic (Ave rate) Ph 9.24/kwhr
Total Elec Bill Ph 5,544/month
B. The solar electric system needed to ELIMINATE the expensive bill.
Solar System Needed 3500 watts (3.5kw)
Solar Panel Size 240 watts /panel
Solar Panels total 15
Solar Inverter size - 4kw
Space needed to install 25 square meters
Load KG 292
C. Funding, necessary to acquire the system.
Loan Total P225,658.00/41pesos =$5503.00
Loan Interest 8%
Amortization in years 15
Monthly P2197=$54
D. Day One of System in FULL OPERATION, the SAVINGS start :
1. Your electric meter starts to run BACKWARDS which means your system ,AS DESIGNED, produces more power than you are using. You are NOT using any electricity from Meralco. Panel size and number are designed to produce a total kwhr more than you use during the day.
2. The excess power generated by the solar panels are ‘SOLD’ BY YOU to Meralco, through Netmetering.
3. At night time the panels DO NOT PRODUCE ELECTRICITY. You then ‘BUY BACK’ the power from MERALCO.
4. In effect you simply used MERALCO as your FREE ‘STORAGE’ of electricity PRODUCED BY YOU, during the day so you can get it back at night.
5. At the end of the month , your electric bill is Zero Pesos . And it is by LAW that you can do this if you have solar panels on your roof and you have Netmetering approved according to the Law.
Now, let us look at the rest of the excitement:
You used to pay P5544 per month for your electricity. Now your bill is zero. Your monthly payment to the loan is P2197 per month. Looks like a monthly windfall of P3347!
Being a smart guy that you are , you sink half or more of the windfall into the loan. Your amortization years (number of years you pay into the loan) drop according to your aggressiveness in paying off your loan.
Let us say you ‘killed’ your loan in 7 years.
Day one after pay off of your loan is freedom day! Your electricity from day one of year 8 is FREE.
Solar panels are known to last 30 to 40 years with the least efficiency loss and least maintenance or care. That is roughly 22 to 32 years OF GETTING FREE ELECTRICITY with the sunlight as your source!
The inverters (DC to AC) last between 10 to 15 years . All these components are under warranty for a certain number of years.
The secret of inverters or NO inverters:
Replace all your equipment with DC (Direct Current) appliances and you get rid of the inverter. Solar panels produce DC. But DC appliances are hard to come by and expensive.
