This 2022, some business owners and homeowners in the Philippines are considering rooftop solar panel systems in their properties. However, there are still some that hesitate because of their little grasp of the solar panel setup process and solar energy. In fact, thousands are still wary of adopting renewable energy because of limited knowledge about solar energy price in the Philippines.
In today’s solar-conscious environment, it would be wise for business professionals and homeowners to consider going solar. Why? The rationale is simple. Going solar offers solid cost savings, increases property value, and protects the environment by lowering carbon footprint. What’s more is that there is a certain time to take advantage of solar energy price in the Philippines — and that is during the summer season in the country and NOW. Continue reading to learn why.
Take Advantage of Solar Energy Price in the Philippines Now
The latest data shows that solar energy price in the Philippines has declined drastically and continuously during the past years. The cost of solar PV systems was cut down by 48.4% in 2011. In 2021, solar PV continued to drop by more than 80% compared to 2011 prices. The global residential solar panel system prices dipped to as low as $3/W too.
According to another study, for a household consuming an average of 300 kWh/month, the price for solar energy is less than P1/month.
The adoption of solar is expected to boom in the upcoming years with this declining solar energy price in the Philippines. The drop in solar energy in the Philippines is due to various market factors, including:
Better manufacturing techniques and panel design
Innovative manufacturing techniques have been a major driving force behind the decline in solar energy prices in the Philippines. In recent years, solar panel designs became more compact and efficient, requiring fewer resources overall. Mounting systems offer ease of use and solar panel installation was made easier as well. As a result, solar manufacturers were able to pass the savings to end consumers through lower prices.
Lower solar installation equipment cost
A majority of the reduction in solar energy prices in the Philippines comes from the decline in installation costs.
The lower energy price in the Philippines includes installed costs. This means the cost includes everything needed for a solar panel setup, including, the panels, the mounting systems, and the installation itself. As said earlier, modern solar panels are more compact than ever. These are easier to install. Panels costs are steadily falling as well.
Government solar incentives
It’s a known fact solar energy helps you save on electric bills, while increasing property value and protecting the environment. Is that not enough reason for you to take advantage of solar energy prices in the Philippines? The Philippine government is encouraging citizens to make the big solar switch through incentives.
The legislation of Republic Act (RA) 9153 or the Renewable Energy Act of 2008 pushes for the use of solar energy in the Philippines. Under the legislation, companies are offered a variety of fiscal and non-fiscal incentives, including:
- Income tax holiday (ITH)
- Income tax reductions and zero VAT incentive
- Tax and duty exemptions on imported spare parts
- Support from financial institutions
- Simplified customs procedures
National agencies are tapping both local citizens and foreign investors to switch to solar as an energy source.
Take Advantage of Solar Energy Price in the Philippines During The Summer Season
Situated right above the equator, the Philippines is a tropical country blessed with plenty of sunlight throughout the year. But once the summer heat rolls in, so do the electric bills. To exacerbate this problem, the high dependence on fossil fuels has led to rotational blackouts. Once the megawatt demand peaks, a shortfall in energy supply takes place to preserve grid stability.
Rolling blackouts in the Philippines also commonly happen during the hottest months when there are water supply shortages, disrupting the lives of millions in more ways than one. Fortunately, turning on the sun can solve the country’s energy woes and you and your family beat the summer heat with affordable solar energy prices.
Solar energy reduces dependence on fossil fuels. What’s more is that surplus energy produced by your grid tie solar energy system can be credited through net metering, offsetting your electric bills even more.
It’s more convenient to take advantage of solar energy prices in the Philippines once the summer heat is about to come to prevent you from receiving high electricity bills.
Going Solar With Solaric Is Easier Than You Think
As long as you have a roof, you can take advantage of solar energy price in the Philippines. At Solaric, our expert team can start the solar installation for you immediately. Backed by decades of experience, it’s easy for Solaric to provide the most cost-efficient solar solutions while lessening its carbon footprint.
Solaric has established its name across the renewable industry as a proven and reputable rooftop solar leader. Backed by decades of experience, Solaric has installed more than 50% of residential rooftop solar in the Philippines and has delivered significant cost reductions in electricity expenses, as well as milestone contributions to a cleaner, greener, and more renewable future. We want every Filipino to enjoy the benefits of clean and renewable power. Welcome to the new generation of solar and turning on the sun.
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We want every Filipino to enjoy and take advantage of our affordable solar energy price in the Philippines.
Are you interested in finally going solar and relying on the power of the sun? Partner with Solaric today and one of our expert team members will answer your questions until you’re ready to start your renewable energy with us. Give us a call at 75040092 or 09178603141 or 09083775577, email, or click here to experience the ultimate power of the sun.
At Solaric, we Turn on the Sun.