Do You Know Opting for Solar Solutions Can Save You Money?

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.