December 22 (SeeNews) - Japan’s Mitsubishi Electric Corp (TYO:6503) said Monday it has started work on a 480-kW photovoltaic (PV) project in the Costa Rican coastal town of Playa Herradura.
Mitsubishi Electric US Inc will equip 48 units and villas at luxury coastal residential complex Punta Bocana with 10-kW solar systems resistant to corrosion. They are estimated to be able to generate 919.8 MWh in the first year of operation.
Completion is planned for early 2018.
The arrays are expected to meet almost 100% of the sites' consumption throughout the day and to provide credit when the country’s net metering programme starts in April 2017. The solar systems will offset about 977 tonnes of carbon dioxide (CO2) emissions annually.
Punta Bocana project manager Thomas Walker said electricity rates in Costa Rica range between USD 0.32 (EUR 0.31) and USD 0.40 per kWh. “A typical 2,500-square-foot [232.3 sq m] home can see monthly bills from USD 800 to USD 1,500 per month depending on their usage. However, with a 10-kW solar array with net metering, the homeowners could earn credit, making the unit a net zero energy home,” he said.
(USD 1.0 = EUR 0.961)