Let's consider an illustrative example of how rooftop solar can save you money in the long run in India:
Scenario: Mr. Patel, a homeowner in Mumbai, decides to install a rooftop solar system on his house to reduce his electricity bills and contribute to environmental sustainability. His electricity consumption averages around 800 units per month, and he is currently paying Rs. 8 per unit for electricity from the grid.
Initial Investment: Mr. Patel's rooftop solar system installation costs Rs. 2,85,000 after accounting for subsidies and incentives provided by the government. The system has a capacity of 5 kilowatts (kW) and is expected to generate approximately 750 units of electricity per month, accounting for variations in sunlight throughout the year.
Monthly Savings: After installing the rooftop solar system, Mr. Patel's monthly electricity bill decreases significantly. Let's break down the savings:
- Previously, Mr. Patel was paying Rs. 8 per unit for 800 units, totaling Rs. 6,400 per month.
- With the rooftop solar system generating approximately 750 units per month, Mr. Patel now only needs to purchase 50 units from the grid.
- At Rs. 8 per unit, Mr. Patel's monthly expenditure on grid electricity is reduced to Rs. 400 (50 units * Rs. 8 per unit).
Annual Savings: Mr. Patel's annual savings can be calculated as follows:
- Monthly savings on grid electricity: Rs. 6,000 (Rs. 6,400 - Rs. 400)
- Annual savings: Rs. 6,000 * 12 months = Rs. 72,000
Return on Investment (ROI): Considering Mr. Patel's initial investment of Rs. 2,85,000, he can calculate the payback period and ROI of his rooftop solar system.
- Payback period = Initial investment / Annual savings = Rs. 2,85,000 / Rs. 72,000 ≈ 3.96 years
- ROI = (Annual savings / Initial investment) * 100 = (Rs. 72,000 / Rs. 2,85,000) * 100 ≈ 25.26%
Long-Term Savings: After the payback period, Mr. Patel continues to enjoy substantial savings on his electricity bills for the lifespan of the solar panels, typically 25 years or more. As electricity prices from the grid are expected to rise over time, Mr. Patel's savings from the rooftop solar system will also increase, providing even greater long-term financial benefits.
In this adjusted example, with an installation cost of Rs. 2,85,000, rooftop solar still provides Mr. Patel with significant cost savings in the long run, making it a sound investment for homeowners in India
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Thank you for your kind words, keep sharing.
Very interesting details you have observed, regards for posting.Raise blog range
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://accounts.binance.com/register?ref=P9L9FQKY
Thank you for the good writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! However, how can we communicate?
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Hey there! I could have sworn I’ve been to this website before but after browsing through some of the post I realized it’s new to me. Anyhow, I’m definitely happy I found it and I’ll be bookmarking and checking back frequently!
Unquestionably believe that which you said. Your favorite reason seemed to be on the internet the simplest thing to be aware of. I say to you, I definitely get annoyed while people think about worries that they plainly do not know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people could take a signal. Will likely be back to get more. Thanks
Your article helped me a lot, is there any more related content? Thanks!
Thank you for sharing superb informations. Your web site is very cool. I am impressed by the details that you?¦ve on this web site. It reveals how nicely you perceive this subject. Bookmarked this website page, will come back for more articles. You, my friend, ROCK! I found simply the information I already searched all over the place and simply could not come across. What an ideal web site.