Is Rooftop Solar Panels an effective way to save money for rational consumers?

Is Rooftop Solar Panels an effective way to save money for rational consumers?

United Nations Population Fund (UNFPA) shows that India has the highest population density. India's economy is developing and every household and business requires reliable and efficient energy. SOLAR ENERGY is the most economic and reliable source of energy at the moment, so it's time to switch to it. But the question is do solar panels save money?

Solar energy is the best alternative to traditional methods of electricity production in India due to the various benefits like cost savings Since India is a price-sensitive market. You'll save money on electricity by installing a Solar System and simultaneously becoming a responsible consumer of energy. More specifically, solar energy helps save costs due to the following factors:

Electricity prices - As we all know, the price of electricity is increasing day by day, and so is consumption. Installing a solar solution allows people to generate their own electricity and minimize the power drawn from the grid, thus reducing or eliminating utility bills. Electricity prices fluctuate all the time, making it challenging to plan expenses. Installing solar panels keeps costs constant so you can plan your expenses properly.

Low maintenance - Solar panels have a reasonable initial investment and are now backed by governments and private companies like Sunson Energy. Subsequent maintenance and service costs are low for these systems. With proper maintenance, it has a life span of approximately 25 years.

Power Storage - The power generated by these panels can also be stored and used later when not needed. Especially when electricity prices are high during peak hours.

Enhancing your property's value - Solar panels help save and recover installation costs by increasing the market value of your property. Buyers are willing to pay a little more knowing that it will save them money on their utility bills in the long run.

Subsidies from the Government - To encourage the use of solar energy, the Indian government supports the installation of solar panels by offering subsidies to residential consumers.

How much a consumer can pay for an electricity bill every year will provide us with an insight into how much money you can save by installing solar panels. Check this chart for a better explanation.

The average retail electric rate for residential customers has increased by 3% over the past decade. Commercial & Industrial have seen increases of up to 20%. In this data, we can observe that a rational consumer pays a minimum of 5,000 a month, and in the end, we will have to pay a minimum of 28 lacs only on your electricity bill. Instead of paying this much amount, you could invest in solar power, which is available at a reasonable price; EMI options can also be provided. By reducing your electricity bill on a monthly basis, solar panel systems help you save money.

With the solar system, you can save money and amortize it in a very short time. Rising real estate values, lower operating costs, and government subsidies reduce the initial cost of installing solar panels. With energy prices increasing, investing in solar energy is a smart move to save money with the added bonus of reducing your carbon footprint!

To calculate your savings contact us at 9289027500.