SAVINGS WITH SOLAR

Understanding Savings on Solar Energy: In-depth analysis.

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Figure here is a graphical representation of comparison between expenditure/earning on electricity consumption with or without Solar Installation.

SAVINGS WITH SOLAR

We have compared a case of one consumer spending money on installation of solar rooftop power plant on his roof and generated solar energy offsets some of his electricity bill and the rest of the bill he pay from his pocket and another consumer who invests equal amount of money at interest rate of 8% per annum and pays his bills out of this corpus monthly instead of spending money on installation of solar energy. Example shown above is for installation of 3kW Solar Rooftop Plant without considering subsidies. Comparison is drawn of financial journey for a period of 300 months (or 25 years -accepted lifespan of solar panels) duly accounting for drop in efficiency of generation with time.

Explaining the Financial Journey

Case-A (without switching to solar energy)

Cost of installation in above example for a 3kW solar power rooftop plant is take as 1.80 L. Hence consumer A starts his journey with positive corpus of 1.8L in his hand and invests this money for an annual return of 8% and continues to pay his monthly bill of 350 units per month from his pocket. His journey is represented by Green Line in the graph where his corpus continues to fall for 25 years. His total spent on this journey is about 14L in addition to his initial corpus of the  1.8L. 

Case-B (After switching to solar energy)

Consumer-B utilizes that same initial corpus of 1.8L for installation of Solar Power System on his roof. Assuming that person is living in Gwalior, Madhya Pradesh average energy generation is 4 units of power per day per 1kW of solar capacity installation. Hence his daily power generation is 12 units resulting in monthly power generation of 360 units. This is about the same capacity as his average monthly electricity bill. Consumer-B has to pay electricity charges after some years due to drop in efficiency of solar panels which has been taken into account. He has to pay overall about 4L including his initial cost of solar installation His financial journey is represented by Yellow Line in the graph.

Conclusion

As it is apparent from the comparison above, consumer-B had to spend a lol less to meet his electricity requirement throughout the period of 25 years. His Savings are represented by Orange Line on the graph leading to a total savings of more than 10L during this period. He managed to save a huge amount of money in terms of energy consumption in addition to doing something for the environment. He manages to offset 4kg of CO2 emission on every 1 unit of electricity generated by solar panels. Become a wiser consumer with installation of solar installation on your rooftop and save huge amounts of money.

 

NOTE – Above analysis is representative actual numbers may vary depending upon several factors 

How you can get solar rooftop system installed on your home in Gwalior, Madhya Pradesh: A stepwise guide

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Get your roof energized with solar energy and make a considerable saving on your electricity expenditure. here is a stepwise guide to help you get set and go solar with minimum efforts -

All you need to do to get started on your project is to fill the form next to this article and we will provide you free consultation along with guidance on every step of the procedure including installation and commissioning of rooftop solar PV system (SPVRT) on your roof securely integrating with the grid. 

Let's get started on the stepwise procedure for installation of SPVRT System: 

  1. Site Feasibility and Capacity Estimation: First thing that any solar installer will do is to visit your rooftop and analyze the space available for total capacity. As solar energy will be generated during sun hour, it is essential to carry out a shadow analysis. This will decide how much space on the roof can be effectively used to  generate solar energy. Secondly, our representative will do quantitative analysis of load available in your home and the capacity of the connection that is obtained by you from the DISCOM. Since the feasibility of solar installation will be approved by the DISCOM they generally provide feasibility according to the load capacity of your current electricity connection. For Example if you have 1 kWh connection from the DISCOM, they will not allow you to install solar installation more than that capacity. If this situation arises, you will have to apply for increasing your load connection according to your consumption and the capacity of Solar System you want to install.  
  2. Submission of System Design and Estimate: after above analysis we will submit a detailed report including proposed system design and Plans for seamless approval of feasibility.  
  3. Application for Subsidy: once the feasibility is done by the DISCOM, according to the capacity to be installed by you. Our representative will help you guide through the application for subsidy in PM - Surya Ghar Muft BIjli Yojna of Central Govt. ( to read in detail about PM:Surya Ghar Scheme check-out our blog here).
  4. Installation and Integration with the Grid: once, the application is sent for central financial assistance, we will begin installation of Solar PV system on your roof as per designs agreed with you. Installation will take 2-3 days including installation of mounting structure, putting in place the PV modules and connecting the array with Junction Box and Inverter and the grid through net metering, putting up warning signages and demonstrating the safety measures to be taken in any emergency and during general course of affairs. Final checks will be done before proceeding to the next stage. 
  5. Commissioning of Solar Rooftop System: After final checks and full satisfaction by our representation the system is submitted for approval to the DISCOM, who will do final visit and approve the system before commissioning.
  6. Enjoy Green Energy: after commission all you have to do is count savings on your monthly electricity bills and have fun in solar powered green energy.

Get free consultation now-

    Note: if you are a homeowner in Gwalior, Madhya Pradesh. Free consultation is available with solarmeter.in, just fill the form next to this article.

    Ask these 15 questions to your rooftop solar installer before choosing right installer.

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      15 most important questions you must ask your Solar Installers before choosing the right installer for you.

      Switching to renewable energy from traditional sources of energy for your daily home energy requirement is a noble thought. However before installing solar Rooftop systems on your home, you must ask all the doubts you have in your mind before finalizing your installer. Here are some crucial enquiries you must have answers to before embarking on solar powered journey of free electricity- 

      1. What experience do you have in solar installation?
      2. Can you provide references or examples of past projects similar to mine?
      3. What solar panel brands do you recommend, and why?
      4. How do you handle permits and approvals for solar installations?
      5. What warranties do you offer on the solar panels and installation work?
      6. Can you assess my property's solar potential and provide an estimate of energy production?
      7. What financing options do you offer, and can you help with the process?
      8. How do you handle maintenance and repairs after installation?
      9. Do you offer monitoring services to track the performance of the solar system?
      10. What is your timeline for installation, and how do you handle unexpected delays?
      11. How do you ensure the safety of your installation crew and my property during the installation process?
      12. What happens if my energy needs change in the future? Can the system be easily expanded or modified?
      13. How do you handle shading issues that might affect solar panel efficiency?
      14. Can you provide a detailed breakdown of the costs involved in the installation, including any potential additional fees?
      15. What post-installation support and customer service do you provide?

      If you are opting for more aesthetically pleasing and multipurpose installation such as a hut or covered area with elevated structure. 

      You must ask your installer if the structure that is being built is properly designed by engineer to withstand various loads during its lifetime. What material is being used for installation. Given that most guidelines insist upon mounting structure of HDGI (Hot Dipped Galvanized Iron) so as to prevent corrosion and lighter weight of the structure. Generally speaking, total weight of such structure should not exceed 60-70 kg per meter square. Any solar structure and panel installed on your roof is going to last for more than 20 years, which is a very long period. Steps need to be taken at the time of installation itself to ensure longevity of that structure. 

      Various other aspects also need to be kept in mind such as change in energy needs, scope of expansion, ease of replacement etc. 

      Note: if you are a homeowner in Gwalior, Madhya Pradesh. Free consultation is available with solarmeter.in, just fill the form next to this article.

      How much carbon can you offset by installing 1kW solar PV system on your rooftop?

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      Helping the planet with solar energy: putting things into perspective

      Let's expand on how much positive impact can one decision have on the environment and society-

      • Carbon Emissions from Electricity Generation:
        • The typical carbon emission rate for conventional electricity generation in India is around 0.9 to 1.3 kilograms of CO2 per kilowatt-hour (kg CO2/kWh) of electricity produced. These emissions contribute to air pollution and climate change.

      • Solar Power and Carbon Offsetting:

        • Solar power provides a clean and renewable alternative to conventional electricity generation. Solar panels harness sunlight to generate electricity without emitting CO2 during operation.
        • Installing a 1 kW solar power plant on your rooftop in India can generate approximately 4 kilowatt-hours (kWh) of electricity daily, depending on factors like sunlight availability and panel efficiency.

      • Carbon Offset Calculation:

        • Considering the average carbon emission rate for conventional electricity generation in India, the solar power plant would offset approximately 4 kWh/day * 1 kg CO2/kWh = 4 kg CO2/day.

      • Putting it into Perspective:

        • Comparing the carbon offset to everyday activities or objects in India:
          • Driving an average car for about 32 kilometers emits roughly 4 kg of CO2.
          • Burning around 1.5 kilograms of LPG emits approximately 4 kg of CO2.
          • Heating a typical home with natural gas for a day emits around 7.5 kg of CO2.

      • Significance of Solar Energy:

        • The installation of a 1 kW solar power plant on your rooftop not only reduces carbon emissions but also promotes energy independence and sustainability.
        • Solar power is particularly beneficial in India, where there is abundant sunlight throughout the year, making it an ideal renewable energy source to mitigate the impacts of climate change and reduce dependence on fossil fuels.

      • Environmental and Economic Benefits:

        • By harnessing solar energy, individuals can contribute to reducing air pollution, combating climate change, and conserving natural resources.
        • Additionally, solar power can lead to long-term cost savings on electricity bills, providing financial benefits to homeowners and businesses while reducing reliance on grid electricity, which is often generated from fossil fuels.

      • Government Initiatives and Incentives:

        • The Indian government has introduced various initiatives and incentives to promote the adoption of solar energy, including subsidies, tax benefits, and net metering policies that allow users to sell excess electricity back to the grid.
        • These measures aim to accelerate the transition towards clean and sustainable energy sources and achieve the country's renewable energy targets.

      In summary, installing a 1 kW solar power plant on your rooftop in India not only offsets carbon emissions equivalent to various everyday activities but also offers environmental, economic, and social benefits. Embracing solar energy contributes to a cleaner, greener future for India and helps address global climate challenges.

      Solar in Gwalior - solarmeter a solar panel installation service
      Solar in Gwalior - solarmeter a solar panel installation service
      Solar in Gwalior - solarmeter a solar panel installation service
      Solar in Gwalior - solarmeter a solar panel installation service

      What is Accelerated Depreciation Benefit and why it is important for solar investment in India.

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      Understanding Accelerated Depreciation of Solar Power Assets in India.

      Accelerated depreciation is like a turbo boost for investments in solar power in India. It gives a speedier way for businesses to deduct the cost of their solar power plants from their taxes compared to regular machinery. When investors use accelerated depreciation for solar projects, they can save money on taxes right away. These savings can then be used for future investments, helping the renewable energy sector grow financially in the long run

      • Accelerated Depreciation's Role: Accelerated depreciation plays a crucial role in driving investments in solar power in India, offering faster depreciation on solar power plant investments than traditional plants and machinery.

      • Financial Incentives: Utilizing accelerated depreciation benefits enables investors to trim current taxes, thereby supporting long-term financial growth in the renewable energy sector.

      • Solar Panel Affordability: The affordability of solar panels has increased due to new market contracts and declining purchase and installation costs, making solar systems more accessible to businesses and homeowners.

      • Government Initiatives: The Indian government, particularly the Ministry of New and Renewable Energy (MNRE), is actively encouraging the adoption of solar energy, setting ambitious targets and implementing strategies like offering accelerated depreciation tax benefits.

      • Tax Relief: Accelerated depreciation, under Section 32 of the Income-tax Act, allows commercial clients to claim 40 percent depreciation rebate year-on-year on solar projects.

      • Comparative Advantage: Accelerated depreciation offers significant advantages for commercial and industrial electricity consumers, making solar energy financially viable and sustainable for businesses.

      • Depreciation Guidelines: Section 32 of the Income-tax Act outlines provisions related to depreciation on assets, providing guidelines for businesses to claim deductions for the wear and tear of tangible assets over time.

      • Additional Depreciation Benefits: For enterprises set up in designated backward areas, an additional depreciation of 35 percent is available on new machinery or plant.

      • Depreciation Rates for Solar Assets: Solar power generating systems qualify for a 40 percent depreciation rate under the Income-tax Act.

      • Benefits of Accelerated Depreciation: Accelerated depreciation allows solar plant operators to claim up to 60 percent depreciation in the initial year, reducing taxable income and lowering income tax liabilities.

      • Cash Flow Flexibility: Tax savings from accelerated depreciation enable businesses to redirect cash flow into critical areas like research and development, expansion initiatives, or loan repayments.

      • Quicker Recovery of Investments: Accelerated depreciation facilitates a faster recovery of investments in solar power plants, encouraging reinvestment in capital assets.

      • Depreciation Calculation Methods: Depreciation can be calculated using either the Straight-Line method or the Written Down Value (WDV) method, allowing businesses to account for the gradual loss in value of their assets over their useful lives.

      • Impact on Revenue and Tax Liability: Depreciation in the context of solar energy impacts revenue and tax liability, making accelerated depreciation benefits particularly advantageous for solar projects.

      • Long-term Financial Growth: Leveraging accelerated depreciation benefits allows investors to retain tax savings for future investments, contributing to long-term financial growth in the renewable energy sector.

      These points summarize the article's discussion on the significance and benefits of accelerated depreciation for solar power assets in India.

      3 things you need to know about solar financing in India.

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      Know more about solar financing.

      Solar financing is easier way of getting started with solar energy without delay, let's discuss key aspects -

      Switching to solar energy can be a big step for Indian homeowners, but the initial cost often holds many back. According to a survey, the main reason people hesitate to go solar is because it can be expensive upfront. But there's good news! There are ways to finance solar panels that can make it easier for you to make the switch and start saving money on your energy bills.

      First, let's talk about buying solar panels with cash. This means you pay for the panels all at once, without taking out a loan. It's great because you don't have to worry about paying interest, and you can take advantage of tax credits and other benefits. But for many people, coming up with the money to buy solar panels outright is tough.

      That's where solar loans come in. These work like any other loan—you borrow money from a lender to pay for the panels, then pay it back over time. There are different kinds of solar loans, some where your home is used as collateral and others where it's not. The downside is that you'll have to pay interest, but the good part is you'll own the panels and can get tax credits.

      Another option is a cash-out refinance or a Home Equity Line of Credit (HELOC). With these, you borrow against the equity in your home to pay for the solar panels. They can have lower interest rates than other loans, but if you can't pay them back, you could lose your home.

      Lastly, there are solar leases and Power Purchase Agreements (PPAs). These are like renting solar panels instead of buying them. You pay a monthly fee to use the panels, and the company that owns them takes care of maintenance. The downside is you don't get tax credits, and you might have to pay fees if you want to end the lease early.

      So, which option is best for you? It depends on your budget and how long you plan to stay in your home. If you can afford it, buying solar panels with cash is usually the best choice. But if you need to finance, look at all your options carefully and choose the one that works best for you.

      Switching to solar energy is a great way to save money and help the environment. With the right financing option, it's easier than ever to make the switch and start enjoying the benefits of solar power!

      You can also switch to solar with solar loan, contact us for consultation and we will guide you through the entire process. 

      Exploring Solar Panel Options: Choosing the Right Panels for Your Rooftop

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      When it comes to transitioning to solar energy, one of the most crucial decisions you'll make is selecting the right solar panels for your rooftop installation. With various options available in the market, understanding the differences between solar panel types and technologies can help you make an informed choice that aligns with your energy needs and budget.

      Here's a guide to exploring solar panel options and choosing the right panels for your rooftop:

      1. Monocrystalline Solar Panels:

      • Known for their efficiency and sleek design, monocrystalline solar panels are made from single-crystal silicon. They offer higher efficiency rates compared to other panel types, making them ideal for limited rooftop space or locations with high energy demands.

      2. Polycrystalline Solar Panels:

      • Polycrystalline solar panels are crafted from multiple silicon fragments, offering a cost-effective alternative to monocrystalline panels. While slightly less efficient than their monocrystalline counterparts, polycrystalline panels are a popular choice for residential installations due to their affordability and reliable performance.

      3. Thin-Film Solar Panels:

      • Thin-film solar panels utilize layers of photovoltaic materials deposited onto a substrate, resulting in lightweight and flexible panels. While thin-film panels are less efficient than crystalline silicon panels, they excel in certain applications such as curved or irregular rooftops and portable solar systems.

      4. Bifacial Solar Panels:

      • Bifacial solar panels feature transparent rear surfaces that allow them to capture sunlight from both sides, enhancing energy production. These panels are suitable for installations with reflective surfaces or elevated mounting structures, offering increased energy yield compared to traditional panels.

      5. Hybrid Solar Panels:

      • Hybrid solar panels combine photovoltaic cells with solar thermal technology to generate electricity and heat simultaneously. These panels can supplement your home's hot water supply or heating system, providing added energy savings and versatility.

      Factors to Consider:

      • Efficiency: Consider the efficiency ratings of different solar panels, as higher efficiency panels can generate more electricity per square foot of rooftop space.
      • Durability: Evaluate the durability and warranty options offered by solar panel manufacturers to ensure long-term performance and reliability.
      • Aesthetics: Choose solar panels that complement your home's architectural style and aesthetic preferences, whether you prefer sleek black panels or traditional blue panels.
      • Budget: Determine your budget and explore financing options to find solar panels that offer the best value for your investment.

      Conclusion:

      Selecting the right solar panels for your rooftop installation involves careful consideration of factors such as efficiency, durability, aesthetics, and budget. By exploring the various solar panel options available and consulting with a reputable solar installer, you can make an informed decision that maximizes your energy savings and reduces your carbon footprint for years to come.

      Madhya Pradesh is a crucial player in meeting renewable energy targets of India.

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      Major Solar Power Plants of Madhya Pradesh

      Madhya Pradesh, a central Indian state, has been actively involved in the development of solar power plants to harness its abundant solar energy resources. Here are some of the major solar power plants in Madhya Pradesh:

      1. Rewa Ultra Mega Solar Park:
        • Located in the Rewa district of Madhya Pradesh, the Rewa Ultra Mega Solar Park is one of the largest solar parks in India. It has a total capacity of 750 megawatts (MW) and consists of three solar generating units. The park gained international attention for hosting one of the world's lowest solar tariffs at the time of its auction.
        • The Rewa Solar Park was jointly developed by the Solar Energy Corporation of India (SECI) and the Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL). It has helped Madhya Pradesh make significant strides in renewable energy generation and contributed to the state's efforts to reduce dependence on fossil fuels.
      2. Neemuch Solar Park:
        • Neemuch Solar Park is located in the Neemuch district of Madhya Pradesh. It has a capacity of 250 MW and is one of the key solar power projects in the state. The park consists of multiple solar generating units and contributes to Madhya Pradesh's renewable energy portfolio.
        • Neemuch Solar Park was developed to harness solar energy and promote sustainable development in the region. It has facilitated job creation, attracted investments, and supported the state government's initiatives to achieve renewable energy targets.
      3. Agar Solar Power Project:
        • The Agar Solar Power Project is located in the Agar Malwa district of Madhya Pradesh. It has a total capacity of 150 MW and plays a significant role in enhancing the state's renewable energy capacity. The project is part of Madhya Pradesh's commitment to promoting clean and green energy sources.
        • The Agar Solar Power Project contributes to the state's efforts to meet electricity demand, reduce carbon emissions, and promote economic growth through renewable energy development. It has also helped in diversifying the energy mix and increasing energy security in Madhya Pradesh.
      4. NTPC Solar Power Plant, Mandsaur:
        • The National Thermal Power Corporation (NTPC) Solar Power Plant in Mandsaur, Madhya Pradesh, is another notable solar project in the state. With a capacity of 250 MW, the solar power plant contributes to the renewable energy goals of both Madhya Pradesh and the country.
        • The NTPC Solar Power Plant in Mandsaur showcases the collaboration between the central government and state authorities in promoting solar energy projects. It reflects the commitment to clean energy transition and sustainable development in Madhya Pradesh.

      These major solar power plants in Madhya Pradesh demonstrate the state's commitment to renewable energy development and its efforts to harness solar power to meet electricity demand, reduce carbon emissions, and promote sustainable growth. They contribute significantly to India's renewable energy targets and underscore the importance of solar energy in the country's energy transition.