In considering the transition, the council looked at the total solar energy generation over 25 years, annual savings relative to SP Group’s tariffs, the payback period and the effective cost of solar per kilowatt-hour compared to grid electricity.
“So we stress test different assumptions of all ‘what-ifs’, then all in all, we concluded that this transition makes sense,” said Dr Yeap, who is also the vice-president of the MCST Association of Singapore.
The benefits are two-fold: Electricity savings – an estimated S$7,500 per year in the first five years – can go into their management fund, resulting in savings for residents, he said.
In addition, having enhanced sustainability credentials could have a positive effect on the property value, said Dr Yeap, whose council will pitch the idea to residents at the upcoming annual general meeting.
GETTING RESIDENTS’ APPROVAL
A hurdle for condominiums considering solar panels is getting approval from residents at annual general meetings.
Read Full Article At Source
