solar panel roof

Can Solar Energy Save You Money Over the Long-term?

Solar energy is a renewable source of energy. Not only it is environment-friendly, it can help to cut down on the use of fossil fuels. There are many uses of solar energy such as:

  • Home heating
  • Hot Water systems
  • Swimming pool heating and
  • Indoor and outdoor lighting

Solar energy in Malaysia is very efficient because the sun shines almost all year long.

In Malaysia, not only it is possible to generate your own electricity, in some areas, you can even sell energy back to the electric grid.

Save Money with Solar Panel Systems

Most of the time, solar panels will help you save money on electricity.

This is especially true if you are planning to live in the same house to recoup the installation costs through saving on your energy bill.

But how do you save money?

  • You won’t be using as much electricity from the grid.
  • As you may already know, the cost of electricity is rising, so when you generate your own power, you save money.
  • Due to the fact that you might not be home to use the power during the day, you can store and use it later.
  • As mentioned before, if you generate excess energy, you can sell your energy back to the electric grid. So make sure you ask your retailer how to do it, and make sure you choose a plan that suit your needs and maximise your saving.
  • More market value to your property. When you install a solar panel system in your property, you are adding market value. For example, if you are selling your property, with a solar panel system, buyers will be willing to pay for a higher price, knowing that they can save on energy in many years to come. If you are renting out your property, tenants will be willing to pay for a higher rent because with solar panels, they will save on their electricity bills every month.

Before installing a solar panel system, it is important to consider these factors:

Energy Consumption

To know which type of solar panel system you need, take a look at your electricity bill to find out how much electricity your household consumes on a regular basis.

Running Patterns

It is very important to know exactly when you are using your solar panel system.

For example, if you consume most of your solar energy when your panel is supplying all your power needs, then you are not using power from the grid, and you will not be paying for your electricity during these hours.

On the other hand, if you are using less than what you produce, inform the grid and you can get a credit on your bill according to the applicable feed in tariff.

Feed-in tariff

Feed-in tariffs in Malaysia depend on your retailer, so make sure you ask them before you install any solar power system.

The rates are fairly good, particularly for PV, and they’ve also outlined various bonus amounts that apply if the generator meets certain criteria.

Size of your Solar Power System

The larger the solar power system, the more energy you will generate, and the more money you can save over time.

Since a larger solar power system will also cost more, make sure you know your household’s power needs to decide on the size of your system.

Location

Another aspect you should consider is where you live. Remember in Malaysia, the sun shines all year long, but the climate vary depending on which region you are.

So the same system is likely to yield more solar power depending on the region you live.

Other factors to consider are electricity prices and upfront cost of installation.

Generally, the higher electricity prices are, the more money you will save with solar panels.

And of course it is very important to know the upfront cost of installation, so that you can decide if it is worth it or not.

 

So all in all, is it worth it to install a solar panel system? The answer is a resounding YES.

Not only it will save you a lot of money, it will increase your property value.

Just make sure you consider your consumption habits and patterns, where you live, and don’t forget to ask your retailer for feed in tariffs.

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  1. […] users save thousands on electricity bills every year, not to mention the appreciation of property value as the majority of buyers are willing […]

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