Everyone knows it costs a lot of money to build a house in Bermuda.
Bermuda Engineering Company also knows about how much it will cost to run a house, condo or business over its lifetime.
The average house in Bermuda costs between $500,000-750,000 to build, so when you buy or build a house you are making a long-term financial commitment with no monthly return.
On top of that, the average BELCO bill is more than $2,000 a year and set to rise.
Many people in Bermuda live in houses that use more than $10,000 a year in electricity costs — or more than $100,000 in 10 years.
Payback
When you are thinking of building or renovating a house, this is the best time to call Bermuda Engineering for help in reducing or eliminating your future BELCO bills.
Bermuda relies heavily on oil to generate electricity. With a fixed amount of oil available in the world, the supply is decreasing every day.
Oil prices will continue to rise and be very volatile, directly translating to a rise in Bermuda’s electricity bills.
So why not get ahead of these inevitable costs?
Solar electricity systems are a standard, proven product in the market and utilize sunlight, not oil.
This means you pay for the equipment, and then you generate electricity for free and save a lot of money, eliminating pollution at the same time.
A typical two to three-person household that is running energy efficiently would require approximately a 3kW (kilowatt) solar system from Bermuda Engineering, generating up to $2,000 of electricity per year.
Bermuda Engineering has certified solar installers, and a system is eligible for a Government rebate of up to $5,000, providing you with a very compelling return on investment.
With a solar energy system costing two to five per cent of the cost of a house, not only will it provide a complete return on your principal and earn you money by producing your own electricity, it will also help to eliminate your personal dependence on oil and help contribute to a cleaner and healthier environment. We will be judged tomorrow by what we build today.
A 3kW system takes up about 210 square feet of space and consists of twelve 39” x 65” modules that can be arranged in single or multiple rows.
These modules can be attached to a roof, carport, pergola or wall/ground-mounted system.
Bermuda Engineering Company has been established since 1935 and takes pride in quality of products and workmanship, providing a comprehensive warranty on all components of the system.
Each system is also guaranteed to withstand 140 mph winds, and utilizes a custom-engineered mounting system for Bermuda’s unique roofs.
Electricity produced from oil in Bermuda currently costs a minimum of $0.40/kWh (kilowatt hour), and is set to increase.
As many people are reluctant to pay current bills, what is to come as these prices are rising?
A typical solar electricity system will produce electricity for less than $0.25/kWh during its entire lifetime, which will reduce energy costs immediately and stabilize them for the future.
Bermuda Engineering’s solar systems will typically last far longer than the 25-year warranty period.
In fact, there are solar electricity-generating panels that were made in the 1970s that are still producing electricity today.
The typical payback for a 3kW system is seven to nine years, which means the average home running on solar electricity will pay for itself 16-18 years before the warranty period is completed.
These additional years can eliminate your electricity costs and even provide the time for the electricity company to pay you.
Even if you decide to sell your house before your payback date, the equity of your house will have increased by that initial $21,000 investment, minus standard depreciation.
Regardless of whether you take full advantage of your system, all of your capital investment will be returned.
On the contrary, if electricity for a two to three-person home is provided by BELCO, in 12 years’ time the household will have spent about $35,000.
Savings
With the price of oil continuing to rise, this figure could possibly double in those 12 years.
By the time a PV (photovoltaic) system will pay for itself and start making you money, a household depending on BELCO will have spent more than the cost of an entire solar electricity system.
Now is the time to save with solar. Bermuda Engineering is here to help; every year you wait is costing you thousands of dollars, and no matter what the future holds, solar is certain.
• For more information contact Stuart Kriendler on 599-2105 or e-mail stuartkriendler@bermudaengineering.com, or Travis Burland on 331-6678 or e-mail travisburland@bermudaengineering.com. Website www.bermudaengineering.com.