Tips to harness solar power for Indian homes
In India, plentiful sunshine makes solar power a no-brainer for reducing electricity bills and helping the environment. Plus, the government has sweetened the deal, making it easier for homeowners to invest in solar. This article breaks down why going solar is a "money-making machine" for Indian homes, proving it's not just good for the planet, but also great for your wallet!
Cut down on electricity bills
One of the biggest advantages of going solar is the substantial savings on your monthly electricity bills. The average household can save up to ₹8,000/month depending on their usage and the size of their solar system. These savings add up quickly, helping to recoup the initial investment in installation. This makes solar power a financially smart decision for your energy needs.
Avail government subsidies and incentives
The government of India provides significant subsidies and incentives to motivate homeowners to transition to solar energy. Depending on your state and the size of your solar power system, you may be eligible for a subsidy that covers 20-30% of the total installation costs. Plus, many states offer extra incentives such as tax credits and rebates, further alleviating financial concerns.
Increase property value
Homes with solar power systems installed experience a significant increase in property value compared to those without. A recent study found that homes with solar installations experienced a property value increase of up to 3%. This means that investing in solar power is not only beneficial for saving on current electricity costs but also as a long-term investment in your property's market value.
Contribute to environmental conservation
Although not a financial benefit per se, helping to shrink carbon footprints has indirect economic benefits of its own. By generating green kilowatts on your rooftop, you reduce dependency on fossil fuels, which are getting costlier over time due to scarcity and environmental taxes. Plus, positioning yourself at the forefront of sustainability could unlock further advantages as the world continues to reward green initiatives.
Secure energy independence
By investing in solar power, homeowners can attain energy independence. With sufficient capacity, you can entirely eliminate reliance on grid electricity, which is vulnerable to price increases caused by rising fuel costs or infrastructural upgrades. Solar panels are also durable with long lifespans (average 25 years), guaranteeing that your investment yields returns over decades through significantly reduced or even eliminated electricity bills.
