Shams Power: Solar Power Cost vs Regular Electricity Cost

Solar Power Cost Vs Regular Electricity Cost in Pakistan for Business

With the rising electricity costs, business owners in Pakistan are looking for alternative energy solutions to help them cut their operating expenses. Fortunately, solar energy is an affordable and eco-friendly option.

However, some factors should be considered before installing a solar system in your business. We've compiled this guide to help you determine whether solar is right for your company.

Cost of Installation

The cost of solar power systems in Pakistan can vary widely depending on the type and quality of equipment you choose. It can also vary based on the size and location of your home or business.

Calculating your monthly electricity bill is the best way to figure out the cost of a solar system. Then, divide that amount by the number of energy units you consume.

In Pakistan, you can use net metering to offset your electricity bills by using excess energy from your solar panel system. This is a great option for homes and businesses to save money on their electricity costs.

It can also help reduce your carbon emissions and positively impact the environment. Plus, it's a smart investment that can provide you with enhanced monthly savings and a quick return on investment (ROI).

Maintenance

Solar power systems require periodic maintenance. This includes cleaning the solar panels, racking system, and battery bank.

This is a good idea, as dirt, ice, and snow can impede the system's effectiveness or decrease lifespan. Doing this at least twice a year is recommended to ensure the system functions optimally.

According to Wood Mackenzie's research, O&M costs for solar power plants are expected to rise from nearly $4.5 billion in 2019 to $9 billion in 2024. This is due to increased demand, installed capacity, and unplanned repairs.

A smart solar power solution is a great way to reduce electricity bills and improve productivity. It is also a clean and green energy source that can help reduce environmental degradation.

Taxes

Solar power systems can be a great way to cut your electricity costs. They can also help you reduce your carbon footprint and make you more environmentally friendly.

Buying solar panels will likely cost you an initial investment, but that money is typically paid back over time through your savings on energy bills. In addition, you can save even more money by signing a long-term PPA agreement allowing you to use the power produced by your solar system without paying any upfront costs.

The government of Pakistan is promoting solar power to combat its energy crisis, which includes high electricity rates and daily blackouts. Prime Minister Shehbaz Sharif announced that the country would set up 2000 megawatts of solar power plants in the public sector.

The tax breaks are welcome, but Pakistani manufacturers of solar panels and other renewable energy equipment will continue to struggle to compete with foreign-built products free from taxes and duties. Naeem Siddiqui, the chairman of Ebox Systems, a company that assembles solar panels in Islamabad, also needs government assistance in pushing sales of their clean energy systems abroad.

Savings

Solar power is one of Pakistan's most cost-effective ways to reduce your regular electricity costs. This is because solar panels produce much energy during the day and only use a small amount at night.

The average business can save more than a thousand dollars annually by going solar! That's because a solar power system produces excess energy that can be sold back to the grid.

Several financing options are also available for businesses to install solar systems. These include solar loans and power purchase agreements (PPAs).

Solar financing offers many benefits, including tax breaks and low interest rates. Moreover, it can help businesses create more jobs by attracting qualified employees to work on solar projects.