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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Net Metering from BAM Green to cut electricity bills by 100%

Net Metering from BAM Green to cut electricity bills by 100%

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CSE.SAS

CSE.SAS
Global Moderator
By Rashika Fazali
BAM Green, a subsidiary of BAM holdings, commenced operations last Thursday (28) and will look at reducing up to 100% of commercial and domestic electricity costs by going green with the use of renewable energy sources.

As crude oil is expected to dry out in the next 20 years and coal running out in another 200 years, powering energy will be a huge hassle, as prices will soar and the search for alternative sources of energy rapidly becoming the need of the moment.

However, with solar power being the most practical and free source of energy, BAM Green will look to power Sri Lankan households and businesses by advocating the conversion to cheaper energy with the use of the company’s Net Metering system.

This system will be connected to the power line directly through the meter and any excess solar power generated, will be fed back to the Ceylon Electricity Board (CEB) grid using an export system. The energy left in the system will then be used to power households at night which will be referred to as power imports. Consumers will only have to pay the difference between the imports and exports at the end of the month.

At the launch of the company’s new subsidiary held at Water’s Edge, BAM Green introduced its first customer to invest in their solar panel Net Metering system, popular musician Sunil Perera who stated: “My electricity bill compared to average users was high. It was around Rs. 80,000 and with all our efforts; we could never get it below Rs. 65,000.”

As the high electricity cost was posing a big issue in his household, Perera stated that he went in search of a system that would significantly reduce his monthly electricity bill. Having found the Net Metering system and installed it in June last year, he revealed that his present electricity bill showed a surprising drop to around Rs. 4,000. “The month before it was around Rs. 5000,” stated Perera adding, “I am very happy with the investment. If you are having doubts, don’t worry. Just go for it.”

With the Net Metering system, the cost of electricity is gradually reduced with the efficiency of the solar panel but at the same time it also depends on the type of equipment installed and their overall energy consumption.

BAM Green has so far tried, tested and completed 25 pilot projects covering the domestic and commercial sector and revealed that the company will offer a massive 25 year warranty on the Net Metering systems, which is sourced from Norwegian Renewable Energy Corporations (REC) Group, a leading global provider of solar power solutions.

REC Group Asia Pacific Managing Director Shailendra Mohan Bebortha stated that this technology will help take the human race forward into the next generation of sustainable power generation. After the realization that climate change is man-made and following the recent tsunami in Japan that caused a nuclear catastrophe that rocked the world, he stated that the environment needs to be looked after with more care.

In addition, BAM Green in collaboration with the Carbon Consulting Company handed out carbon conservation certificates to their clients who have helped preserve the environment with the reduction of their individual carbon footprints.
http://www.ft.lk/2013/04/02/net-metering-from-bam-green-to-cut-electricity-bills-by-100/

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
some time back these guys advertised a small solar solution to reduce the electricity bills. So I called them. First thing was i was transferred around as no one knew about the product. After a number of sales people who where unable to answer my question I was finally put to an engineer, who also had no clue. So I got transferred to another engineer, who started by staying "I'm new here". All I wanted answered where a few simple technical questions.

I'm surprised they are capable of doing this

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
80,000 per Month !
Sure you should go for net metering or any metering !

For the people who wanted to save 4-5000 per moth better to calculate FD income, depreciation , coming down prices of the equipment with time and possible new technologies in future before taking a decision.

Jeremy

Jeremy
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
One of an article has been published on our company BAM GREEN in Sri Lanka equity Forum.

There was a comment made by a user and I wanted answer that comment and got myself registered. But unfortunately, it is not allowed until 7 days. Could you please submit my comment if I send it to you. Or else can you allow my account to publish that,

BAM GREEN Pvt. Ltd.

Asanka B. Thennakoon,

Project Manager- Renewable Energy
No 120, Station Road, Homagama

Sri Lanka.

D: +94 117796843
M: +94 773507168

asankabandara


Stock Trader
Dear Sidath,
Thank you very much for your valuable feed back. I apologize for inconvenience caused. Somehow, i need clarify that we are one of the two company in Sri Lanka who does not comprise the quality of systems to reduce installation costs.

May be we may have failed to respond properly to your telephone inquiry, but we have taken measure by employing more engineers to address customer's requirements.

I take your feed back positively.

BAM GREEN Pvt. Ltd.

Asanka B. Thennakoon,

Project Manager- Renewable Energy
No 120, Station Road, Homagama

Sri Lanka.

D: +94 117796843
M: +94 773507168
E: asanka.t@bamholdings.com
U: http://www.bamgreensolar.com

http://www.bamgreensolar.com

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