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Saving in the new Electricity Market
17 Oct, 2018

According to statistics, Singaporeans consumed a total of 7,295 GWh (gigawatt hours) in 2017, which is the equivalent of each home spending about $1,000 a year on electricity – merely in one household!

A majority of our electricity comes from using the air-conditioner, refrigerator and water heater systems. The knowledge that I’m about to pass to you, my audience, is a great way to save you a great amount of money by saving electricity and going green.

Disclaimer, my green has nothing to do with plants!

New Electricity Providers

Drum roll please…The moment that most Singaporeans have been looking forward to.  With more electricity providers, we can look forward to more cost effective electricity providers and low pricing.  With all these great ways to save on electricity, you can be sure to be able to spend on more things you enjoy!

Smart Plug

I’m sure everyone has experienced this: Well tucked in bed and ready to have a good night’s rest but you forgot to switch off your table lamp! You then begrudgingly get up  to switch them off. That feeling when you were in so much comfort and when you get back to bed.. It’s just not the same anymore.

Smart Plugs are a smart and inexpensive solution that allows you to control your electronic devices/appliances using just your smartphone. As simple as it gets, you simply have to plug the smart plug into a normal socket and connect your smartphone to the smart plug, and there, you can control it through an app on your smartphone. 

It only gets better – pair it with a Home Assistant smart device and you do not have to fumble with your smartphone when you’re at home as you can communicate with the device to control your smart plug.

With smart plugs, it not only makes your life more convenient but most importantly this inexpensive invention could save you a lot on unnecessary energy used and ultimately BILLS!

Installing Solar Panels

Home-owners can simply set up a solar panel system at the roof of their home especially in the very sunny Singapore, the energy generated from the sun can help you save a lot of money for rainy days. If there were more energy generated than needed, you can sell the energy back to the government! As Singapore uses smart metering, the excess electricity gets pumped back to the grid and we get paid for supplying electricity.

It doesn’t just apply to landed property owners, HDB flat owners can also have solar panel installed in their homes – such as on windows!

So how much cost can you save?

A 30W panel costs around $50. Depending on the size capacity and electricity you can harvest, you can easily break even in 3-5 years. From there, the rate of return you earn can be close to 20%-30% (what a great choice of investment).

Example: A solar panels of 320W + A grid tie converter = around $750 (COST)
If you harvest about 2.5kW (23.65 cents/kW), you can get about $0.60 per day, which is $220 a year. In less than 3.5 years, you can breakeven and offset all your cost.

It’s so cost efficient to use reusable energy that solar panels are mushrooming around the island! With a smart and green home, it can save you so much inconvenience and most importantly money!

Have more smart ideas to add to your new/current home? ST Homes provides FREE quotation along with multiple interior designers and contractors to help you build you home smarter and greener as per your requirements.

Check out ST Homes and get a free quotation for home renovation services right here!

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