![]() P500 will get you 5 Big Mac's in Malaysia but only 2 Big Mac's in Singapore.Īs a consumer, the Big Mac Index can be a nifty tool to measure just how far your money will go for in other countries. With the brand’s commitment to consistency, this means that the same item, which consists of the same ingredients, is made the same way – all in different economies. The burger was chosen as a tool of measurement as it is an item available in all McDonald’s stores worldwide. PPP is tool used to compare different countries' currencies through an identical basket of goods-in this case, a Big Mac. Introduced in 1986, The Economist started the “Big Mac Index” as an informal or even humorous tool that provides a tangible measure of purchasing power parity (PPP). The iconic golden arches of McDonald's has yet to set up shop in Cambodia, Lao PDR, and Myanmar. The McDonald's staple is cheapest in Malaysia where a single order costs around P90. In Thailand, one would have to pay P172, whereas if one were in Indonesia, it would cost about P115 to buy the item.Ī Big Mac is roughly the same price in Vietnam as it is in the Philippines, where the burger goes for P132 and P133, respectively. Next to Brunei, a Big Mac would cost the most in Singapore where the treat is almost P200. Using local prices collected from the Big Mac Index and converting this into its peso-equivalent, a Big Mac would cost the most in Brunei, where one would have to pay about P245 for a single burger. Exchange rates for the countries were BND IDR MYR SGD THB VND Aside from being a global favorite, the staple fast-food item is also a tool used to measure the purchasing power of a country’s currency.ĬOSTLY. In February, the dollar-peso exchange rate stood at P50.25 to the dollar, with the most recent figure at P49.8 to the dollar, according to the Bangko Sentral ng Pilipinas.īut what might this look like to the average consumer?įor starters, we could take a look at a McDonald's Big Mac, an item available in every McDonald's store worldwide. MANILA, Philippines – Recent months have seen the peso hit a 10-year low against the US dollar. The Economist's Big Mac Index uses the tasty McDonald's staple to measure the value of different currencies. See what solar incentives are available in your area by using our solar panel calculator.TASTY. Local solar tax incentives and rebates can end up saving homeowners thousands on a solar installation, especially when they’re used with the federal solar tax credit. The solar tax credit makes installing solar more cost-effective by providing homeowners with a tax credit equal to 26% of the cost of their installed solar panel system. The overall cost of solar can be influenced by the solar incentives available.Īcross the U.S., homeowners can apply for the federal solar tax credit, also called the ITC. This is why getting multiple solar quotes is so important.įederal, state, and local solar incentives It’s important to make sure that your installer is giving you the best quality at the best price possible. That is charging enough so that they can stay in business - as you’ll be relying on them for the next 25 years! If you get quoted for a ridiculously cheap price, the installer might be using low-quality equipment or an unsustainable pricing model. You may see some solar quotes with prices that seem too good to be true. The type of inverter you buy will also influence the cost of your solar system. Polycrystalline panels have a lower efficiency rating and come at a lower price point. Monocrystalline solar panels tend to be more efficientĪnd more expensive than other solar panels. There are two main types of solar panels for residential solar installations: monocrystalline and polycrystalline. The price of solar panels can vary depending on the type of solar panels you choose. System will increase as more panels are added.īut, the higher a home’s energy usage, the more solar panels can save the homeowners on their energy bills. Homes that use more electricity will need more solar panels to cover their energy needs.Īlthough solar panels do get cheaper on a per-watt basis, the overall cost of the Some of the factors that affect solar power system installation costs for These different components are what make the price of solar fluctuate between installations.
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