Significant savings in your electricity bill over a long horizon of at least 25 years, under the assumption that most of the photovoltaic production is used immediately or sold to the electricity grid (net metering). The detailed conditions of such sale to the electricity system will be presented by the Colombian Electricity Regulator over the next couple of months.
Fiscal benefit of deducting 50% of the photovoltaic (solar) investment from your taxable income, thanks to article 11 of recently enacted Law 1715 of May 2014. To make use of this option, a certificate must be requested from the Ministry of Environmental Issues in Colombia.
Fiscal benefit of applying the method of accelerated depreciation with respect to 100% of your solar investment, thanks to article 14 of the same law.
Home value appreciation.
Environmental:
Reduction of your carbon footprint, as you will be using electricity produced through renewable sources rather than traditional industrial sources which are heavily contributing to global warming. Your solar project is equivalent to tens of trees being planted.
Improved urban landscape, as your solar installation will not require the extensive cabling layout that otherwise is needed for traditional electricity distribution which in turn distorts our urban and rural landscape.
Others:
You will be using solar energy at zero cost.
You will improve the efficiency of the traditional electricity grid. While solar power does not need to be transported to your home (as it comes directly from your roof), the traditional electricity is produced far away from your home and therefore needs to be transported. Such electricity transmission process implies losses in the range of 5-15% which can be avoided.
Associated costs
Financial:
Initial investment: Although it should not be considered as expenditure but as a capital investment, you will be making a material financial commitment in order to put in place your solar installation.
Maintenance: Your solar project requires minimal maintenance, which is primarily in the form of cleaning the solar panels to avoid shades.
Environmental:
None. But please remember to recycle your solar panels if at some point you decide not to use them anymore.
