Relief from Utility Inflation
By using solar you protect yourself from rising utility costs
As of August 2019, Pakistan’s inflation rate stands at 11.63 percent. Don’t worry you have no direct control over inflation; It’s the government that makes the policies and drives the economy.
Ask yourself a hypothetical question; is the cost of a Toyota Corolla the same it was twenty years ago? Common-sense says it’s not. Why is that? This is mainly due to inflation.
Taking this example, just imagine what would your utility bill be, say five (5) years from now? The current market trends indicate they would definitely be much higher. Over the last ten (10) years, electricity prices have risen up at an average of nine percent (9%) annually and the utility companies are known for their fluctuating and unreliable prices.
The typical Pakistani home spends about PKR 180,000/- annually on electricity. If you buy a system that meets 100 percent of your electricity needs today, you will have an extra PKR 180,000/- in your pocket a year from now.
The following year, when prices rise up by 9%, you’ll save about PKR 196,200/-. Your savings will continue to grow for the 25+ years that your panels generate electricity, adding up to well beyond PKR 4,905,000/- over the lifespan of your system.
Even if you don’t have enough money to buy a solar energy system up front, you can still reduce energy costs by financing your solar panel system with a solar loan. Most solar financing options require no down payment and reduce your monthly expenses from day one of installation. As an added benefit, your monthly energy costs will no longer fluctuate – they will simply be the monthly
Now your expenses are:
- Lower than your conventional utility bill
- Consistent over time, without any fluctuations or increases