Amit Arora stays in Delhi in a 2BHK apartment with his wife and two children. His monthly electricity bill is around ₹ 2000 in winters and ₹ 3000 when the AC works full blast in summers. With work from home a norm now, 24/7 WiFi adds to it.
This is where solar shines through. With around 300 days of sunshine a year, India is optimized to harness solar power. Ignoring this is foolish since solar energy is the cleanest renewable source of power.
Solar power was only 9.8% of the total installed power capacity in India in Q1 2020, a huge growth potential. Our installed renewable energy capacity was 94.43 GW in February 2021, and expected to reach 450 GW by 2030. Of this, Solar will have over 60% of market share (about280 GW).
So, why exactly is solar the way forward? The biggest benefit of installing solar panels is the saving on electricity costs. With suitable solar panels, you can produce enough electricity for your entire home.
Managing the monthly outgo
Electricity tariffs imposed by discoms are skyrocketing, but clean solar energy is abundant and free. The photovoltaic solar panels help to reduce electricity consumption and therefore, the electricity bill. Also, rebates from the government ensure that this is the best time to invest in it.
A rooftop solar system has a one-time cost which is not much compared to the long-term savings on electricity. After the initial expense and completion of the break-even period of 5 years, solar power becomes almost free.
For example, you can save approximately Rs 3000 by installing a 5kW system that will generate around 20 kWh/day or 600 units per month. So, if your electricity bills are around ₹3,000/month, your net cost of power will become zero. However, this will hinge on quantity of power generated. A good quality solar system can easily produce 20 kWh/day. With net metering, you can actually earn instead of pay!
Net Metering – The Perfect Solution
Net Metering is a significant way of saving money. This system allows you to export the excess electricity you produce back to the grid and adjusts the excess against your usage. So, you pay only for what you use. This reduces your electricity bill sharply. Additionally, you can earn money if you send power back to the grid. In reality, you are converting a simple rooftop into a solar power plant.
Tariffs – the Worrying Upward Graph
Most households are concerned about rising tariffs. Unfortunately, many companies charge you on your total consumption. The more you consume, the higher the charge per unit of current. Consequently, you have to pay extra when you cross from a lower to a higher slab. Contrarily, at a December 2020 auction of Solar Energy Corporation of India, India’s solar power tariffs reached a historic low of ₹ 2/kWh. Are you still doubting which is a better option?
Solar energy is THE energy of the future. It reduces your carbon footprint while saving money. Make the right choice and choose the sunshine today.