India has become a hot-selling solar market and people are interested in installing solar systems in their homes as well as in industries and factories. But there are always a few questions in their minds regarding the installation of solar panels. Is it wise to switch to solar in India? How long will it take to get the money back that was invested in the installation? Is a Solar Power Plant a smart investment in India? This article shares why the future of solar is bright in India and why it is a smart investment.  

Solar Energy in India

Solar is among the fastest-growing industries in India. This is mainly because solar energy is not only renewable but is also attractive from a financial point of view. As more people are becoming eco-conscious, they have started opting for green solutions. Eventually, solar power will become a mainstream part of the energy consumption community with better and improved technological advantages.

Development of Solar Systems in India

Due to its geographical location, India receives an ample amount of sunlight and therefore, has tremendous scope for generating solar energy. India being a tropical country, receives radiation nearly throughout the year, which amounts to 3,000 hours of sunshine. This is capable of producing 5,000 trillion kWh. States like Andhra Pradesh, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, and West Bengal have high potential to harness solar energy because of their location.

Being an inexhaustible source of energy, solar energy is the most suitable replacement for other non-renewable energies like fossil fuels in India. While fossil fuels have a damaging effect on our environment and are responsible for global warming, solar energy is renewable and does not cause harm to the environment.  

Advantages of Solar Panels over Conventional Methods of Electricity

Here are some of the advantages of installing solar panels. This will help you decide if it’s wise to switch to solar energy. 

1. Cost factor

The most effective way to cut down your electricity bills is to invest in solar energy. Using solar power will reduce your dependency on utility-provided electricity resulting in a reduced electricity bill. Also, solar panels are a secure investment. The fluctuation in electricity prices in India is one of the major factors why people are opting for solar energy. Moreover, if you have enough rooftop solar panels, you can earn money by selling the surplus electricity back to the grid.

2. Life

Solar panels’ performance can be guaranteed for 25 – 30 years, depending on the manufacturer. However, that doesn’t mean your roof panels will stop producing electricity after a few decades. After the mentioned period, the solar energy efficiency may decline beyond what the manufacturers estimate to be their production output. 

3. Support from the Government

The government in India offers tax credits to encourage people to adopt solar energy. According to the Ministry of New and Renewable Energy, the Indian government provides significant subsidies for the installation of rooftop solar PV systems. 

4. Low Maintenance Costs

Solar energy panels do not require a lot of maintenance. All you have to do is keep them clean. There are no moving parts, so there will be no wear and tear. All that needs to be changed are the inverter, wires, and cables, and that too after 5-10 years. This is to ensure that your solar power system works at maximum efficiency. Therefore, once the initial cost of the solar panels is covered, there is a minimal amount you need to spend on their maintenance.

5. Increase your property value

Installing solar panels on your roof will increase your property’s value. Whether selling or renting your property with solar panel installation, you can ask for a higher cost in return and also make the deal quicker than the same property without the solar panel installation.

6. Reduce your Carbon Footprint

Unlike conventional energy resources, solar poses no threat to the environment. Since solar energy does not pollute the environment or emit any greenhouse gases, the solar rooftop model helps you reduce your carbon footprint. It is an ideal source of energy that can help to combat climate change as well.

If a switch to solar energy is advantageous to you in so many ways, then why not invest in it? Choosing solar can also make you a responsible citizen who will help the country achieve its targets.