Are you an industrialist in Bangladesh dealing in apparel, poultry, metals and so forth? Are you feeling the heat of increasing utility prices yet you have ample roof space? You may want to try solar plant technology for its cost-effectiveness, environmental friendliness among other benefits. Although many industrialists in Bangladesh are still trying to understand the real value of installing solar plant on their rooftops, those who have given it a go have realized significant results. Here we sample some benefits that come with this installation.
Solar Plant Technology on Idle Space on
Using modern technology to increase profitability is wonderful for any industrialist, but the prospect is even sweeter if it involves hitherto unutilized resource. A 1 kilowatt peak (kWp) system requires approximately 10 square meters, which most industrial facilities can afford.
Unmatched Cost Savings
Bangladesh government policies in favor of rooftop solar coupled with dwindling cost of solar power in general have made the economics of investing in this alternative energy irresistible. In the last decade, we witnessed historic decrease in price of commercial-grade renewables power generation across the globe. Experts put price decline in solar PV at 77%!
Check the price of solar in Bangladesh today. It should be between Tk 5.5 and 6.5 per unit kilowatt hour-kWh. Industrial consumers relying on grid electricity have to part with at least 7.25 per unit kilowatt hour-kWh.
The cost savings of installing solar plant on an industrial roof would therefore allow for payback within seven years. Even without any incentive, a solar plant makes economic sense for this type of user.
Long-Term Availability of Free Electricity
After paying back the initial investment, the real benefit of installing solar plant on an industrial roof starts to manifest. A solar system of this magnitude has a lifetime of up to 35 years. This is good! Good because having the system on the rooftop is akin to prepaying power for those years. Remember that the best solar plant installers in Bangladesh offer great warranties- 25 years in most instances. Such a warranty indicates that the product is of the highest quality.
Net Metering for Industrialist Solar Plant
Net Metering Guidelines have been available in Bangladesh since mid-2018. The government took the step to introduce these guidelines because it wishes to make rooftop solar as affordable as possible. With net metering, industrialists can connect the rooftop solar unit to the electricity grid. In case there is any surplus electricity from the panels after self-consumption, the consumer can gain in either of two ways:
- Receive payment for exported electricity at the end of the year or
- Receive equal amount of power from the grid
Net metering features a bi-directional meter for management of electricity flow in both directions. The net balance can benefit either the consumer or the utility, and this is settled monthly or at the end of the financial year.
Lots of spaces atop industries in Bangladesh remain unused. By using these spaces optimally, industrialists in the country can manage their power demand better. If more industrialists adopt this strategy, the benefits could accrue nationally and manifest in minimized energy crisis. We applaud the Bangladesh government for promising to generate 300MW from solar plants on rooftops of public agencies and factories.