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People often think “why solar energy is good?” and as a result, they fail to understand the importance of solar technology. Solar power has manifestly become the power of renewable resources.
The adoption of rooftop solar has significantly paced up India, especially in Maharashtra, Karnataka, Tamil Nadu, Uttar Pradesh, and Rajasthan. Reasons such as high electricity tariffs, improved net metering policies, and increased awareness among the consumers lead to an increase in rooftop solar adoption. So, do you think switching to solar can be a sound and viable investment?
India has set a target to install 450 GW of solar power plants by the year 2030 and so far achieved its target by installing 34GW solar power plants in the year 2020.
The solar power sector in India is one of the fast-developing sectors. As of 31st March 2021, the country’s solar installed capacity was 40.6 GW.
Installing a solar panel is the best eco-friendly source of energy and also safe and inexpensive. In India, around 1.4 million houses have solar installations. Solar power has the capacity to yield massive financial benefits for your commercial, industrial and residential property.
With financial benefits, there are many other reasons why one should convert towards solar energy. Let us understand why going solar is a good option.
1. Environmental Benefits
By installing a solar panel at your residence or at your commercial place, you are not only attaining monetary benefits, but it is also sustainable. Thus, you are contributing towards a better future making a reduction in carbon footprint with the help of green energy. The dependency on fossil fuels will be minimum and thus will result in less pollution and clean air.
Solar systems are dependent on the sun and thus are widely available free of cost without harming nature. Hence solar panels are the best option to make the earth and environment green and sustainable.
2. Energy Backup Security
Due to the effects of global warming, the change of climate and climate is frequent these days. Such climate change results in wind flow, rain even strong storm surges sometimes. Such sudden climate change leads to breakdown of electricity thus causing huge loss due to stoppage of manufacturing units and various other machines. If you have installed solar panels with battery backup, it can help you from interruptions and worries.
According to the survey records by the Indian Residential Energy Survey, there has been an increase in electric appliances that are star-labeled and energy-efficient. This is a sign that people are looking for options that can help them to reduce their electricity bills. A solar rooftop installation can help to reduce the electricity bill by 80-90% every month.
4. Tax Benefits
Investors in the solar installation are eligible for tax depreciation during the financial year in which the solar panel has been taken.
Income earned from solar energy is exempted from tax for ten consecutive years and is subjective to the norms of the state.
5. Increase in property value
By installing a solar power system you can increase home value by 3-4% the houses with solar energy systems have higher property values. They can be sold more quickly than non-solar furnished homes. Installing a solar panel in your home increases the property value and it is more sellable as compared to other similar properties.
6. Fixed Costs
The monthly expense is likely to differ as per the seasonal changes. The cost is not constant and it might or decrease due to heaters in winter and AC in summers.
With the installation of solar panels, you can have a fixed investment every month. If the panel is grid-tied then you will also gain credits by the month-end.
7. Financial Benefits
We Indians believe in savings for the future. It is the thing which we have in our blood, so we always try to save our earnings in traditional methods such as bonds, shares, SIP, etc. which assures a long-term benefit to us.
Solar systems enable you to generate free power for a period of a 25+ year lifecycle. Solar will reduce your utility bills, and you’ll still save a lot of money even if you don’t produce 100 percent of the energy you consume. Get the best solar panel and reap maximum benefits.
You can generate your energy for many years with little running costs and a long-term decision. Once the solar panel is installed all you need is insurance and yearly maintenance on the panels.
Don’t know anything about solar still considering buying a solar panel system? All you need is to get in touch with a solar installation company to determine if you stand to benefit from solar panels. Get in touch with SR Corporate Consultant Private Limited, one of the leading solar rooftop companies, our expert team will help you to find the best solution as per your needs.
At SR we offer a complete EPC solution for a rooftop for both residential and commercial solar PV installations. Reach out to our team with your latest electricity bill, our engineer will visit your site, and they will take care of the complete solar rooftop installation for the home or commercial building. We also help to arrange finance like loan facilities for large industrial or commercial solar projects.
Get the solar panel installed and reduce the dependence on fossil fuels which will result into less carbon footprint. Contact us now at 8966002620.