Solar systems were initially designed to fight against upsetting climatic changes like global warming, pollution, etc. by producing renewable energy. From the system installation, solar power consumption to electricity usage, no harmful gases or pollution are emitted into the atmosphere. While saving mother earth, solar technologies also help in saving hard-earned money. Curious to know how going solar can save you money and how much? Keep scrolling further to get your answers.
Eliminate electricity
expenses
Having a home equipped with a 5
kW solar system can help reduce the electricity bill by Rs.3,000. A 1 kW solar
system can generate about 4 units per day. So, a 5 kW system can produce approximately
20 units per day and 600 units in a month. Practically, 600 units of solar
energy can save Rs.3,000 as approximately Rs.3,300 electricity bill will come when
using the power supplied from the main grid or DISCOM.
Going solar will lock you in
power expenses at a consistent rate, preventing the risk of utility rate
inflation. The fluctuating nature of utility company charges will result in
increased rates in the years to come. To save more, you can consider using a
system with enhanced solar capacity.
Financial assistance
from the government
The government is providing subsidies,
tax exemptions, and launching several new schemes to promote the adoption of
renewable solar energy. The installer gets some subsidy on the overall cost of
their system installation. The adoption of a solar system for commercial building allows a user to enjoy some tax
credits.
Net metering policy
In addition to the cost saved by
reducing electricity bills and receiving government financial assistance, homeowners
can earn some revenue through a net metering policy. This is a technique through
which a utility company keeps track of the electricity produced and used by a
solar-equipped home. When there is a production of excess energy, the user can send
it back to the grid at the same retail price they used to pay for electricity received
from the grid. In exchange for it, they can get a credit on their utility bill.
After sending excess energy to
the grid in exchange for credits through net metering, you can take power from
the grid during a power outage or at night without paying any extra penny. You
can take the electricity as long as you receive the same or less amount than
what you gave to the grid. To see the credits used in a specific month, you can
check the energy statement of that month. To enjoy the benefits of the net
metering policy, check if your state has adopted this policy.
Low maintenance cost
Solar panels do not comprises any
moving parts. Thus, they can work effectively with optimal performance for more
than two decades. However, just like all other machines, solar technology also
needs regular maintenance and cleaning. But, the good news is that you don’t
need heavy investment, primarily for maintenance. The leading installers offer
annual maintenance contract services for rooftop solar system maintenance, cleaning, preventive measures, and crucial
upgrades to prevent repair and replacement costs.
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