Indian households with medium-to-high income have shown an inclination towards adoption of solar rooftop systems for their homes. This growth has pulled down the prices of solar projects by a great margin.
The government too endorses this growth by giving up to 30% subsidy among many other benefits, to households.
On top of all this, with On-Grid Solar Rooftop Systems, the customer can even avail monthly returns on excess electricity produced with interest rates revolving around double to that of Fixed Deposits in India, on average.
Going solar has both financial and environmental benefits :-
- Make Money By Becoming A Ponsumer- In Solar Grid Tied system the excess generated electricity is sent back to the grid via smart net meters thus reducing electricity bill.
- Free Electricity for 25 years- Solar panels have a 25 years output warranty. Therefore, once installed they generate free electricity for 25 years.
- Return on Investment- An average Indian home can have a payback period of 4 years on their solar panel system and ROI of more than 25%.
- Environment Friendly- The most well known fact about solar energy is that it represents a clean source of energy. A 1 kW of solar power system is equal to planting 154 trees. –
So YES, it does make sense to “Go Solar” as it is lite, both on pocket and environment.
Reference- PIB, ZunRoof website, Quora, MNRE website