Cost- Benefit Analysis on Installing Solar Power Energy at Higher Education Institution in Mindanao

Abstract

Utilizing green technology such as solar energy is one of the most significant counteractions of the agencies to minimize the effects of global warming for sustainability. This Higher Education Institution Administration is the landmark building of the greatness of this University. As such, it is just fitting that the start of the utilization of green technology especially solar energy will start from this building. Results showed that there is a significant economic effect in using Solar power energy at one of the Higher Education in Mindanao administration building compared to the present electrical utility or Electric Cooperative. With the initial expenditure of the University using solar energy with its existing electrical needs amounting to Php 9,183,961.00, the computed period that the Return on Investment (ROI) of the project in terms of the cost of supply and installation of the solar panel with respect to its monthly consumption can be felt is within sixty (60) months or five (5) years. And at the end of the 10th year, the University can have an approximate savings amounting to Php 12,364,553.42. The University can even save more after ten years, but the researcher only considered the ten (10) year period for ROI since it is the years in which full warranty of the PV solar panels is afforded. The Higher Education Institution can dramatically reduce its carbon footprint by purchasing electricity from clean, renewable energy. The environmental benefits brought about by this green technology has the greatest impact to the school populace which is priceless.