The economic viability of solar for a business is a common question. The simple answer is yes. The broken down aspect is as follow
1. Cheaper per unit than Kenya Power
With a grid-connected solar system, the rate you pay per unit is cheaper than the rate charged by the utility per kwh. With solar you get to pay only for what you use, sparing you the additional carges that come with the utility billing such as Fuel Cost Charge (FCC), Foreign Exchange Rate Fluctuation Adjustment (FERFA), Inflation Adjustment (IA), WARMA Levy, ERC Levy etc..
2. ROI of less than 5 years
With prices of solar dropping steadily, commercial solar projects can have an ROI of less than 5 years, resulting in significant energy cost saving for the remaining years of the solar systems lifetime, which is typically 25 years.
3. Solar financing available
Financing for commercial solar project is available where a solar company like Inborn Energy installs a solar system on a customer’s facility at no cost to the customer. The developer sells solar power generated to the customer at a fixed rate that is typically lower than the utility rate. This Power Purchase Agreement means that the customer does not have to tie down capital for a solar project, yet at the same time ensuring he/she gets power at the lowest rate possible. This makes solar an attractive investment.
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