news


Source: www.malaya.com


Propmech sees 50% hike in solar panel installations

June 22, 2012
By: Richmond Mercurio


Local systems integrator Propmech Corp. is expecting the volume of its solar panel installation to grow 50 percent this year, which would hopefully increase its income by 20 percent, according to Helen Tong, Propmech's chief operating officer.

"Solar is one of the best forms of renewable energy technology that can help fight climate change and lower one's carbon footprint," Tong said.

"More people are better understanding the technology that is more affordable," she noted. By yearend, Propmech expects to complete more than 10,000 solar installations.

The bulk of the installations will be standalone systems or small home systems that are used in off-grid areas for the Department of Energy's rural electrification programs.

Most of these small home systems can produce 20 watt peak (Wp) to 100 Wp, Propmech noted.

Propmech officials said that the cost of a single small system solar installation would range from P15,000 to P20,000.

Tong said the company is in talks with several developers and people who have approached them for a possible joint venture.

She noted that interest in her firm grew after its successful inauguration of the Asian Development Bank's (ADB) solar rooftop project earlier this month.

"We are open to a lot of financing schemes and right now and it is dependent on who the customers are. Right now we're open with a lot of things because we have a lot of financial institutions that are willing to work with us in order to make this thing possible," she said. According to Glen Tong, Propmech director, solar technology will continue to grow in the country but will depend on the area of the business.

"(Solar) farms might still be coming but for rooftop, now might be the right time to do it. We are strong in the rural areas," Glen said.

He noted that the Philippines enjoys more sunlight than most countries in the world. "Solar technology will bring down electricity costs in a country blessed with sunlight," he said.