New renewable device eSaver 3000 promises hefty power-bill cut

by Lenie Lectura – March 2, 2016

from Business Mirror

Enfinity Imperial Solar Solutions Inc. (EISSI), a joint venture between Imperial Homes Corp. and Belgian company Enfinity, introduced on Wednesday a technology breakthrough that will result in electric-bill savings by as much as P3,300 per month.

This savings can be realized by residential consumers, who will avail themselves of its newest offering called eSaver 3000, a 24/7 residential basic package that incorporates lithium batteries into its solar systems.

The solar-panel system and the lithium batteries are part of the 24/7 residential basic package that costs P300,000. It includes a 1.5 kilowatt-peak (kWp) solar solution with a 2.9 kilowatt-hour (kWh) lithium battery, which has a longer life span and bigger capacity than traditional lead-acid batteries.

Nickel- and lead-acid batteries are the most common energy storage for solar solutions, available for off-grid renewable systems. These, however, are being gradually phased out, due to cost and environmental issues, said Jocelyn Sta. Ana, EISSI president and CEO.

Even at a higher initial cost, lithium batteries have superior qualities and capabilities, compared to a typical lead-acid battery.

“Lithium batteries are more compact and would take a smaller space, thus, homeowners need not worry about aesthetics. They are also lighter and can be integrated in outdoor applications and mounted in walls,” Sta. Ana said.

A typical lead-acid battery lasts up to 500 to 1000 charge and discharge cycles while a lithium battery would last up to at least 3,000 cycles. Lead acid battery usually lasts from two to three years only.

A lithium battery can last for at least five years. With good battery management, its lifespan could be extended from 10 to 15 years, Sta. Ana added.

“There is currently no perfect solution for anything, but lithium batteries present better cost of ownership in a number of applications, specifically in hotter climates like Philippines,” Sta. Ana explained during the product launch.

eSaver 3000 can produce between 180 kWh up to 278 kWh per month. The energy generated by the system may offset the homeowner’s electric bill by as much as P1,800 up to P3,300 monthly, based on P10- to P12-per-kWh rate.

“Investors may calculate an investment yield of between 7 percent to 13 percent, assuming conservatively that the electricity rate is constant. It is certainly effective and excellent money saver,” Sta. Ana said.

Several financial institutions, both private and public, have already expressed their support in financing renewable solutions for consumers. Among them are BPI, BPI Family Bank, BDO, Landbank, Pag-Ibig, and Producer’s Bank, which provide different funding mechanisms on how the solar solution may be purchased, either through home improvement loans, personal loans, credit card, and cash/deferred payment.