The increase in the demand for PV systems worldwide will result in the rise in cost in the fourth quarter (Q4) of this year of installing photovoltaic (PV) systems. This is according to Charl du Plessis, head of project development at EP Solar.
“This will effectively increase the cost of constructing a commercial 1MW PV installation in Q4 of this year by around R680,000.”
The price increase is temporary, with costs expected to equalise by the first and second quarters of 2018. “However, it is not realistic for commercial projects to wait for temporary price spikes like this to pass before commissioning a new PV system.”
Installing PV systems are still valuable as the overall trend in the cost of solar has been downward, he says. “Ten years ago the average payback period of a commercial rooftop PV system was around seven years. It is now very common to see payback periods of under five years.”
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“This will effectively increase the cost of constructing a commercial 1MW PV installation in Q4 of this year by around R680,000.”
The price increase is temporary, with costs expected to equalise by the first and second quarters of 2018. “However, it is not realistic for commercial projects to wait for temporary price spikes like this to pass before commissioning a new PV system.”
Installing PV systems are still valuable as the overall trend in the cost of solar has been downward, he says. “Ten years ago the average payback period of a commercial rooftop PV system was around seven years. It is now very common to see payback periods of under five years.”
Read more.......
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