Make Money by Installing Solar Panels at Home in India
Solar panels are not only a cost cutting substitution for your home electricity but also helps you make easy money with the help of advanced technology and supportive government policies. It is witnessed in India that the residential solar market had started booming since 2015 with the supporting policies by the government and affordable costing offered by the solar companies.
In India, installing solar has become so easy and convenient with new policies and net metering mechanism. Net metering is when you only pay for the deficit units consumed. For e.g. if your solar plant generation is 1000 units a month and requirement at your house is 1200 units, so you will end up paying just for 200 units. This mechanism of paying for the net units consumed is called net metering or net feed in. India launched this feature for promoting solar energy and increase in the adoption of solar energy by the residential as well as commercial users.
If you are planning for a safe investment option, then investing in solar power plant will be the most preferred one. As solar panels come with 25 years warranty and requires minimal maintenance. It is one of the most preferred form of investment option. It has become completely easy and favorable to save and earn money from solar as you will be able to track on your monthly savings through your mobile with highly equipped monitoring solution.
Solar panel is not only for reducing your electricity bill but also for contributing to the environment. It acts as the purest form of energy with zero carbon emissions. 10 KW solar plant will generate approx. 50 units in a single day and around 1500 units in a month. The energy which is not used at your residence will be sent to the grid directly and will be added to your account.
Cost Of Solar System:
Cost of the solar system can vary from Rs. 55,000 to 60,000 per KW depending upon the location of the site and type of equipments to be used. There are multiple types of solar panels in the market that offer different technology, efficiency, warranty and cell type. Other main equipment is the Inverter (which is known as the heart of system). Just looking at the cost will not help you choose the best technology, you will need to understand the equipment and their quality. Choosing the right solar panel and installer is the most critical aspect of any project.
Saving From Solar Panel:
We all know that electricity rates are increasing year on year at a very high rate where the consumers are already paying huge electricity bills to the Discom. Solar system can help you save up to 90% on your electricity bill and has a payback period of less than 5 years which makes it one of the most lucrative investment options. The savings from solar plant continues till minimum of 25 years and more.
There are many electrical equipment’s in the market which require regular and complex kind of maintenance for optimal performance. Once the solar panels are installed on your roof, you just need to check on the regular cleaning of solar panels once in every 15 to 20 days. They come with a warranty of 25 years which keeps your investment safe and secure for a long time. Also, you can hire professionals for the cleaning of solar panels with the option of automatic robotic cleaning or manual cleaning by engineers with the necessary equipment’s.
How To Choose The Right Solar Power Company:
Well, this is a bit of a difficult question to answer but we can keep it really crisp and to the point.
- Thoroughly understand the technology of solar panels they are offering and their warranty.
- Understanding the importance of having a good performing inverter which has at least 10 years warranty and is not any Chinese brand.
- Go through the data sheets of the solar panels and solar inverter being offered.
- The kind of solar mounting structure that is being offered by the company as it is the base of complete system on which solar panels will be mounted.
- The warranty that is offered on the solar equipment’s.
- The annual maintenance support that will be provided.
Solar panel setup for home is on high demand as it caters to all the requirements for being the most stable, steady and lucrative form of investment. It can easily operate for 25 years and as long as you reside at your house.
As it is very popularly said in India, “A penny saved is equal to a penny earned”. We would like to end the whole topic by briefing that how can anyone make money by installing solar at their home in India.