Lumpini Wisdom states that the installation of Solar Rooftops is an alternative energy solution for energy savings in residential properties, with a payback period of approximately 5 years. This aligns with the current and future development needs of the real estate sector.

Mr. Prabhan Sak Raksaiwan, Managing Director of Lumpini Wisdom and Solutions Co., Ltd. (LPN Wisdom or LWS), a research and consulting firm in real estate development under L.P.N. Development Public Company Limited (LPN), noted that real estate developers are currently incorporating alternative energy as a basic utility in both horizontal housing and condominium projects. Specifically, the installation of Solar Rooftops, or solar panels on residential rooftops, is intended to generate electricity from sunlight for use in electrical systems and appliances within the buildings.

“Currently, the cost of installing solar panels on both horizontal residences and condominiums has decreased compared to 10 years ago. The systems have evolved into three types: the On-Grid system, which connects to the electrical grid; the Off-Grid system, which is self-sufficient and stores energy in batteries; and the Hybrid system, which combines both On-Grid and Off-Grid. The installation cost for all three systems is currently around 169,000 baht,” Mr. Prabhan stated.

For a 3.2 KW installation, the payback period is about 5 years, with potential savings on electricity bills amounting to 945,295 baht over 25 years, averaging 37,811.8 baht per year or 3,150.98 baht per month. This system is considered a long-term solution for electricity savings, especially as energy prices continue to rise,” Mr. Prabhan added.

According to a study by Krungthai Compass Research Center, since 2013, the price of solar panels in Thailand has dropped by over 66%, coupled with an increase in the government’s electricity purchase price to 2.2 baht per unit. This has accelerated the payback period for Solar Rooftop installations from 17-30.3 years in 2013 to 6.1-13.9 years in 2021, and it may further decrease to 5.3-12 years in the coming years as solar panel prices continue to decline. It is estimated that up to 2.3 million Thai households could install Solar Rooftops and achieve quick returns. If just 20% of these households adopt solar panels, the market value could reach 137 billion baht.

Meanwhile, a study by Lumpini Wisdom found that there are several companies offering Solar Rooftop installation services, with packages starting from 1.6 KW to 10 KW. The average installation cost is around 89,000-99,000 baht for 1.6 KW, with an average lifespan of 15-25 years and a payback period of about 5 years, saving approximately 1,500 baht per month. A 1.6 KW system can power basic household electrical needs, such as about 10 light bulbs, one refrigerator, one air conditioner, and one television, requiring an installation area of about 8-11 square meters, suitable for both single-family homes and townhouses.

For condominiums, Mr. Prabhan stated that Solar Rooftop systems can be installed and utilized in common areas, which will also help reduce electricity costs in those shared spaces, depending on the size of the area and usage requirements.

“With advancements in installation technology and decreasing costs, real estate developers are now prioritizing projects that incorporate Solar Rooftops as a basic utility in the development of single-family homes, townhouses, and condominiums. This has become a significant selling point, not only helping buyers save on electricity costs in the long run but also contributing to environmentally friendly project development that meets the needs of current and future residents,” Mr. Prabhan concluded.