Solar vs Electricity Retailers: Which Saves You More in Singapore 2026?
If you are looking to reduce your electricity bill in Singapore, you have two main options: switch to a cheaper electricity retailer, or install solar panels. Both save money. But the difference in how much they save is dramatic.
Understanding Your Options
Option 1: Electricity Retailers
Since 2019, Singapore homeowners can buy electricity from licensed retailers instead of SP Group. Retailers offer rates 5 to 15% below the regulated tariff. Popular retailers include Geneco, Keppel Electric, Senoko Energy, Tuas Power, and PacificLight.
Option 2: Solar Panels
Solar panels generate electricity on your roof at an effective cost of S$0.06 to S$0.10 per kWh over 25 years. With Sunollo's pricing of S$1,000 to S$1,200 per kWp, a 10 kWp system costs S$10,000 to S$12,000 fully installed — including optimisers, SunolloCare, and insurance.
Head-to-Head: The Numbers
For a semi-detached home consuming S$350 per month:
| Factor | Switch Retailer | Install Solar (Sunollo 10 kWp) |
|---|---|---|
| Monthly bill before | S$350 | S$350 |
| Monthly bill after | S$300 to S$330 | S$55 to S$120 |
| Monthly savings | S$20 to S$50 | S$230 to S$295 |
| Annual savings | S$240 to S$600 | S$2,760 to S$3,540 |
| Upfront cost | S$0 | S$0 (Sunollo plan) to S$11,000 |
| Lock-in period | 6 to 24 months | 25 years of savings |
| 25-year total savings | S$6,000 to S$15,000 | S$160,000 to S$220,000 |
| Includes optimisers | N/A | Yes (standard with Sunollo) |
| Includes insurance | No | Yes (SunolloCare) |
| Environmental impact | None | Reduces CO2 by 7 to 12 tonnes/year |
Over 25 years, solar delivers 10 to 35 times more savings than switching retailers.
Why the Gap Is So Large
Retailers Discount the Margin, Solar Eliminates the Cost
Retailers can only discount their margin (5 to 15%). Solar eliminates 50 to 100% of your grid electricity entirely. The effective cost of Sunollo solar (S$0.06 to S$0.10 per kWh over 25 years) is a fraction of any retailer's rate.
Retailers Are Temporary, Solar Is Permanent
Retailer plans expire every 6 to 24 months. Solar generates free electricity for 25 to 35 years. Every time the tariff rises, your solar savings increase automatically.
The Rising Price Multiplier
| Year | Projected Tariff | Retailer Savings/month | Solar Savings/month |
|---|---|---|---|
| 2026 | 32.57 cents | S$35 | S$260 |
| 2031 | 37.73 cents | S$40 | S$310 |
| 2036 | 43.71 cents | S$46 | S$370 |
| 2041 | 50.65 cents | S$53 | S$440 |
| 2046 | 58.69 cents | S$61 | S$520 |
When Retailers Make Sense
- You live in an HDB flat and cannot install solar
- You are renting
- Your roof is unsuitable for solar
- You already have solar and want to minimise remaining grid cost
The Hybrid Strategy: Solar Plus Best Retailer
The optimal approach combines both:
- Install solar (Sunollo, S$1,000 to S$1,200/kWp with optimisers)
- Switch to cheapest retailer for remaining grid electricity
- Add battery (S$5,000 to S$12,000) to further reduce grid dependence
| Component | Monthly Cost | Monthly Savings |
|---|---|---|
| Original bill | S$350 | — |
| After solar (10 kWp with optimisers) | S$120 | S$230 |
| After retailer switch | S$102 | S$248 |
| After battery (10 kWh) | S$40 | S$310 |
Sunollo's Abundance Pro delivers the full hybrid strategy: panels with optimisers, battery, and EV charging with SunolloCare insurance.
Total Cost of Ownership: 25-Year View
| Strategy | 25-Year Cost | 25-Year Savings |
|---|---|---|
| SP Group only | S$127,000 | S$0 |
| Best retailer | S$112,000 | S$15,000 |
| Solar (Sunollo purchase) | S$11,000 + S$22,000 grid | S$94,000 |
| Solar (Sunollo S$0 plan) | S$29,700 + S$22,000 grid | S$75,300 |
| Solar + battery + retailer | S$19,500 + S$8,000 grid | S$99,500 |
Sunollo's Unique Advantages
What makes Sunollo solar dramatically better value than retailer switching:
- S$1,000 to S$1,200 per kWp — competitive with budget installers but includes everything
- Optimisers as standard — 10 to 25% more energy from partially shaded roofs
- SunolloCare — 25-year maintenance, monitoring, and performance guarantee
- Full insurance — weather, theft, fire, and electrical fault coverage included
- Battery options — S$5,000 to S$12,000 from Tesla, BYD, Huawei, Sigenergy, all insured
- Savings guarantee — rebate if your system underperforms projections
Common Objections
"Switching retailers is free and instant"
With Sunollo's S$0 upfront plan, solar is also free to start. You pay a subscription that is lower than your savings — cash-flow positive from month one, but with 10x the savings of a retailer switch.
"Solar does not work at night"
That is why the hybrid works: solar for daytime, battery for evening, cheapest retailer for the remainder. Add a Sunollo battery (S$5,000 to S$12,000) to cover 80 to 90% of your total consumption with solar.
Frequently Asked Questions
Should I switch retailers or install solar?
If you have a landed property, solar saves 10 to 35x more. Sunollo's pricing of S$1,000 to S$1,200 per kWp with optimisers, SunolloCare, and insurance makes it the clear winner. For HDB or condo residents without solar access, switching retailers is the best option.
How much does switching retailers save?
5 to 15% on your bill, or S$20 to S$50 per month. Temporary and resets when the contract expires.
How much does solar save compared to retailers?
Solar saves 50 to 80% (S$120 to S$550 per month). Over 25 years, solar saves S$120,000 to S$350,000 versus S$6,000 to S$15,000 from retailers.
What is the cheapest electricity in Singapore?
Solar self-consumption at S$0.06 to S$0.10 per kWh (Sunollo, 25-year basis). No retailer can match this. The cheapest grid option is approximately S$0.28 per kWh.
Make the Smart Choice
Switching retailers saves a little. Solar saves a lot. Combining both saves the most. Get a free solar assessment from Sunollo at S$1,000 to S$1,200 per kWp — including optimisers, SunolloCare, and insurance.
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