Solar power plant is becoming an economically more profitable solution for electricity production every year.
The type of electricity metering NETO UZSKAITES SISTĒMA, common for houses in Latvia, which allows using the electricity connection network as a battery, will be cancelled for new customers from January 1, 2024. It was possible to connect a set of solar panels to ST under the previous conditions and use this calculation system for another 5 years only until 31.12.2023.
For new users of home solar stations and business customers, only a commercial NETO settlement system is now available. On the new tariff, excess electricity produced can be sold to the grid at current price offers, and not “transferred for storage”. The new NETO settlement system has a significant advantage: electricity produced at one facility can be transferred to the accounts of other facilities owned by the client, without restrictions.
The standard payback period on investment in solar panels for the home is 4-6 years, the factory warranty for solar panels is 20-25 years, for inverter 10-12 years, and the warranty for solar panels is 25 years. This means that the solar panel manufacturer ensures that the panels will still be able to produce at least 80% of their original capacity in 25 years.
SIA Tesla’s warranty for installation work is 5 years. Solar panels require minimal maintenance. It is recommended to inspect solar panels once a year to make sure that something unexpected has not fallen on them and their appearance is not damaged.
Depending on the capacity and scope of work, the installation of a solar power plant takes SIA Tesla about 1-5 days.
You can calculate the cost of a set of solar panels for your home, government support, loan and approximate payback here.
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The picture shows the annual profile of electricity production by a solar power plant in Latvia with a 6,6kW system.
For enterprises, there is a state co-financing program ALTUM.