Common Myths about Solar for a Common Man
India is blessed with a lot of solar radiation. Several reports claim that India receives 300 days of sunshine. India has not been able to harness its solar potential despite the huge potential fully. Lack of understanding of solar energy at the individual level is the biggest obstacle to the spread of solar power in India. Perhaps it is time to look at solar energy in a new light (pun intended). Solar energy is an investment, not unlike a financial product like Mutual Funds. Solar returns are not affected by market risks, but they are still subject to many myths. Let’s bust some of these myths!
Myth 1: I’m not a solar customer.
Truth: Solar power is available to everyone, regardless of whether or not there are power cuts in your area. Solar energy should be considered a financial investment. Solar energy can be a good investment even if you are connected to the grid or have utility power 24 hours a day. You can invest in solar energy, just like you would any other financial instrument, and get comparable or even better returns. Consider this: If your average monthly electricity bill in Gurgaon is Rs.10,000/, then an investment of Rs.1,30,000/ into a solar rooftop On-grid system of 1.75 kWatts could potentially yield you a return of investment of up to 20% per annum. You will save money on your electricity bill each month! Solar energy is also pollution-free, which is great for the planet. Cherry on top, you get to reduce your carbon footprint and earn a return!
Myth 2: Solar is too expensive
Truth: Prices of solar energy are now affordable and inevitable. Solar energy can be purchased for as little as a few thousand rupees. Solar solutions can be tailored to your specific needs. You can get financing for larger solutions that require higher investments and convert it into EMIs through short-term loans or long-term loans. (Read below). The more you invest, the greater the return! Solar energy is a good alternative to diesel generators and has a 50% advantage over them when you compare the investment costs with running costs.
Myth 3: Solar is too complicated.
Truth: Not at all! Installing a solar system is no more difficult than installing an air conditioner or any other appliance in your home. The process is a 3 step one that begins with an inspection of your site to determine the Solar Energy Potential, then a recommendation for a solution and the necessary approvals by the distribution company. (Only required for Net-metering Solutions) Finally, the installation takes about a day. It is important to buy the right solar solution for your needs. The following guidelines will help you understand the different types and when to buy them: Grid-connected Solution. Grid-connected solutions allow you to generate electricity from solar energy and export it into the grid.
The system is grid-connected and includes a bidirectional net-meter. The net meter tracks both the import and export units of electricity. Your electricity bill will be reduced if you only pay for net imported units. Grid-connected systems provide the highest return on investment for solar investments. Off-Grid Solutions Off-Grid Solutions allows you to store solar energy for later use. These solutions are made up of battery packs that hold solar energy generated during the day. These solutions are ideal for areas that experience frequent power outages. These Off-Grid Solutions are more expensive because they use batteries. However, in many ways, these solutions beat diesel generators. The unit cost (including capital costs) of a diesel generator ranges from Rs 20-25. Solar’s unit cost (including the cost of batteries) is about half of that of a generator. Second, the solar system will work even if there is a power outage. Solar Inverters prioritize solar power over grid power, resulting in savings. Thirdly, unlike diesel generators, solar panels do not create pollution. Solar energy is the clear winner. Upgrade Solutions: Upgrade options allow you to convert your current power backup system into a solar-powered system. These solutions will allow you to save money on your solar power system.