Do I really save money if I install a solar electric system in my house?

No. Unlike US or other European countries, Singapore does not have rebates or any incentives program in place. The reason homeowners overseas can break even is because their governent offer up to 50% off the initial cost of a solar system. For example, for a 1kW system that costs US$12,000, the government subsidises $6000. The homeowner only pays $6000.

 

Therefore it is not feasible to consider installing a solar electric system to save money off your power bills. It is just not possible to get payback even after 20 years.


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