Installing solar panels is too expensive for me! How can I own a solar system if it’s too costly for me?
Before one starts to ask questions, let us recap a budget for owning solar panels. Here are two reasons why:
Cost of Equipment
High-quality solar panels require advanced technology and manufacturing to produce the finest raw materials such as high-grade silicon. (Example of panels: Monocrystalline and Polycrystalline)
Installation Fees
Installing solar panels with a professional solar installer helps ensure safety while remaining compliant with government regulations, inspections, and manufacturer warranties.
Is installing solar panels too expensive?
However, investments in installing solar panels have generally been popular now that they are becoming more affordable! All thanks to our government support and investors that leads to the reduction of costs. Not to mention Malaysia’s solar sector is the perfect country for more growth given the favorable conditions that are developing.
The cost of installing solar panels may vary depending on the size of the installation, the quality of the solar panels, and the plan that you desire for the service.
There are also options to have your financial scheme towards solar with banks to earn major green deals. Recently, Affin Bank has become one of the banks that offer to fund renewable energy setups including solar energy in Malaysia! Find out more over here.
How much can I save after installing solar panels?
a) Lower Electricity Bills
By installing solar, you can save up to 90% of your monthly electricity bills!
b) Solar Payback Period
The solar payback period is the amount of time it takes to recoup or ‘break even’ on your original investment in solar and when exactly this expenditure can begin to generate profit. With the Net Energy Metering (NEM) scheme, it can provide a shorter payback period of 4-7 years for residential projects in the right circumstances!
If you’re still feeling uncertain about the cost of installing solar panels, start by getting a solar cost and savings estimate. Get your free consultation now here at Verdant Solar!
