Solar power in India is the fastest growing industry. Today, opting for a solar panel is the safest, eco-friendly and cost-effective source of energy. India has around 1.4 million houses that have solar installation. Solar power can result in massive financial privileges for your industrial, residential and commercial property.

Substantial adoption of rooftop solar systems can be observed across several states in India, such as Rajasthan, Maharashtra, Tamil Nadu, Uttar Pradesh, Karnataka, Madhya Pradesh and Uttar Pradesh. Gujarat alone houses two-thirds of India’s residential solar rooftop systems. Improved net metering policies, high grid tariffs and increased awareness among the buyers are the crucial reasons for the growth in rooftop solar adoption.

We have listed some of the valuable reasons below, stating why a rooftop solar system is a good investment for you!

  1. Financial Advantages – All of us have a firm belief in saving money in order to make our future safe & secure, and that’s why we always try to invest our money in SIPs, shares & bonds, and so many other investments. You would be amazed to know that one such investment can be done by installing solar systems. With the help of a solar power system, you can generate free power for your space and that too for a really long period of time. Solar power will also help you with the reduction of the utility bills(electricity, water, gas etc.) and can be beneficial in saving you a lot of money.
    To receive the best financial advantages by installing a solar panel, you can always reach out to us, our experts will help you to obtain the utmost advantages.
  2. Eco-Friendly – By installing a rooftop solar power system in your house or making use of it for commercial/industrial purposes, you will not only enjoy it in terms of financial basis, but from a broader perspective, it’s highly sustainable. So, this way, you will be contributing towards building a safe and eco-friendly environment for a better future as it results in the reduction of carbon footprint. We all know that presently the world is dependent on fossil fuels, but this step can reduce the dependency and result in less pollution. Solar power systems are actively reliant on the sun, which is a natural source of energy and is widely available at free of cost without causing harm to anything. Therefore, solar panels are the best choices to successfully create a green planet and increase sustainability.
  3. Fixed Expenses – The monthly expenditure on electricity may vary according to the weather. For instance, during winters there may be a reduction or even an increment because of the usage of room heaters, and in summers, honestly, the charges can be really high because of multiple electronic devices like AC, coolers, refrigerators running in full swing. This proves that it can never be constant. In the case of a solar power system,  you can have a fixed investment every month if it’s grid-tied, and you can also earn credits by the end of the month.
  4. Taxation – People who are investing in the solar installation are now eligible for accelerated tax depreciation in the course of the financial year in which the configuration of the solar panel has taken place. Moreover, the income from solar energy can be exempted from tax for the upcoming ten straight years, although this provision is subjective as per the state standards.
  5. Energy Storage – Due to the changing climatic conditions and global warming, the weather is frequently shifting these days from heavy rains to destructive wind flow and causing a lot of damage to man-kind. Because of the abrupt transitions, there can be a breakdown of electricity and can cause huge casualties due to the stoppage of manufacturing divisions and numerous other machines. But if you have a rooftop solar power system installed with battery backup storage, it will act as the biggest support to you and help you to save interruptions, and all your worries will be gone. Off-grid solar panels have enormous energy security capability, but it comes with a huge cost, while grid-tied solar panels show up with less battery backup but are relatively affordable & reasonable.
  6. Increment of Property Value  Increase the value of your house up to 3-4% by installing a rooftop solar power system. It is perceived that households that are furnished with solar energy systems have elevated property values and are sold more hastily than non-solar equipped households. Having a solar panel in your residence will boost the value of the property and will make it more marketable when compared to the other parallel properties on the market. Nowadays, with time buyers of residential spaces have become aware and educated about solar power systems, and they actually demand for properties that are provided with the solar power system, and this particular demand will continue to grow in the near future.
  7. Receive Utility Credits For Solar Power – Owners of grid-tie solar power systems are eligible for attaining credits for bringing electricity into the public utility grid. After that, they make use of these credits to offset their energy bill, as the utility’s net metering policy states this in their agreement. It fixes the rates at which interconnected solar buyers can purchase and sell electricity. Here the grid acts as an energy storehouse for the solar homeowner, it helps in banking the power that is being generated and enables you to make use of it later anytime. The utility company then examines and tracks down your meter in order to collect the data on the usage of your net energy, so that they can credit your account based on overall usage.

Here’s a complete guide based on the PV Solar System. Have a read.

 

CONCLUSION

You should always think before making an investment. We always speculate and try to understand the pros and cons before buying any stuff, so some additional caution before making huge investment judgments won’t undermine. Remember, to check the risks, returns correlated with the investment, time and your personal circumstances before making a landing on a decision. Investing in rooftop solar power systems is a great idea, and by reading all the above-given information, you must have understood it by yourself.

Moreover, yes, you can generate your solar energy for several years with small running costs, and this can be termed an intelligent decision taken from your side. Once a solar power system is established, then all you require is insurance and maintaining your solar panels on a monthly basis. Right now, solar power systems are the best investment that offers low risk and high returns described in relation to any other investment. Going solar is a favourable investment after the pandemic, which supports in cutting down expenses.

Need additional reasons to go for a solar power system? Connect with JJ PV Solar, and our experts will assist you to uncover the best match as per your requirements!

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