Cost Benefit Analysis of Solar Versus your Generator
Cost-Benefit Ratio: Your Generator versus our Solar
Have you ever wondered how much you spend weekly, monthly and yearly on fuelling your Generator? Well, because it’s a drop you may underestimate the little drops that has formed the might money.
Let me give you a bombshell, you may have spent more than half a million Naira on your I-better-pass-my neighbour in just two years.
Shocked, right?
Our mission here is not to make you feel bad but to open your eyes to how you could save more intelligently without any waste of scarce resources.
Now the question, what is the cost of fuelling your Generator?
At Vesselnet, our team brainstormed on the calculation to arrive at what we have for you. We estimated a scenario where generator was on for an average of 12 hours. We factored in quarterly servicing of the generator to prolong its life. It is our desire that you should be in the know of the rising cost.
Table of Cost-Benefit of Generator versus Solar Energy Solution
From the table above, taking 1kW Generator and comparing with Solar Power of same rating, we discovered that cash spent on fueling a Generator for a month is N26,100 and for the year the estimated cost of maintaining and constantly running a generator would amount to N373,000.00.
Meanwhile, when compared with Solar Solution, the initial cost though is N692,920.00 but estimating for two years, we found the payback to be 2 years.
In simple words, running a generator for 12 hours daily for two years will be equivalent to the cost of installing 1kW solar solution which is expected to be N692,920.00. You can check the breakdown below to understand how we came about the figures.
Cost-Benefit Analysis of Generator and Solar Solution for 1kW system.
Though generator won’t be replaced every year, replacement will surely be due every four years of use. Other things to note:
Certain generator parts will be due for replacement within two years.
Solar is meant to last for 25-35 years.
Periodic maintenance is not yearly, so the cost can be waved for certain years.
Higher generator size above 10kW make use of diesel. This adds more to fueling cost and maintenance of the generator system.
In this analysis, we used a rate of N145 instead of N190 for the cost of diesel.
You can get a good solar solution quote from us as our solar prices for homes, businesses and estates are competitive. We give you the reassurance of stability and efficiency in all our installed solutions.
To get a quote kindly call this number 09063063687 or send a mail to info@vesselnetintegrated.com