By 2020, installing a solar electricity system for your home has become an obvious choice for many homeowners. One of the main reasons is the significant drop in the cost of solar panels and related equipment, making the initial investment more affordable than ever before. Additionally, the Indian government offers subsidies to encourage the adoption of solar energy. State-level agencies also provide financial support, with special category states such as the North-Eastern regions, Jammu & Kashmir, Uttarakhand, Himachal Pradesh, Sikkim, and Lakshadweep receiving up to 70% subsidy. For grid-connected systems, where excess power is fed back into the grid, the Ministry of New and Renewable Energy (MNRE) provides even higher incentives compared to standard installations. Beyond subsidies, there are other benefits like generation-based incentives that reward you for the energy you produce. Banks have also recognized solar as a form of home improvement, offering loans at rates similar to traditional home loans. Many public sector banks have issued guidelines to their branches emphasizing this policy, making it easier for homeowners to finance their solar projects. Setting up a solar system isn’t as complicated as it might seem. The MNRE only allows subsidies for solar panels manufactured in India, so your provider will check your location and complete the installation within a few days. A leading company like Genus can guide you through the entire process, ensuring you get high-quality, original equipment. As a general rule, about 10 square meters of unshaded roof space is needed for a 1 kW system. Once you calculate your energy needs, you’ll know how much capacity you require. If your roof doesn’t have enough space or is shaded by nearby structures, ground-mounted systems are a great alternative. They offer the same efficiency without the constraints of rooftop limitations. You may be wondering how long it will take for your investment to pay off. With a 30% government subsidy and typical weather conditions, the break-even point for a 5 kW system in cities like those in Madhya Pradesh is around 4-5 years, while a 3 kW system takes about 7 years. Even without subsidies, the payback period is still reasonable—around 6-7 years depending on the size of the system. If you move house before the payback period, the added value of solar panels can increase your property’s worth. That’s why it’s often considered a no-brainer. Solar not only saves you money on electricity bills but also adds long-term value to your home. When choosing between off-grid and grid-connected systems, consider your specific needs. Off-grid systems are ideal for areas with frequent power outages, as they include battery storage to provide power during cloudy days or at night. However, batteries add to the cost and need periodic replacement. On the other hand, grid-connected systems don’t require batteries and allow you to sell excess power back to the grid via net-metering, making them more cost-effective in stable power environments. If you're not interested in upfront costs, even with a short payback period, you can opt for a Renewable Energy Service Company (RESCO). These companies handle the installation and maintenance, while you pay a fixed rate per unit under a Power Purchase Agreement. This model allows you to benefit from solar energy without the burden of capital investment. Whether you’re looking for financial incentives, ease of installation, or long-term savings, solar energy is becoming an increasingly attractive option. If you want more information or assistance, visit Genus to learn how you can make the switch today. Forged Steel Globe Valve,Screwed Forged Steel Globe Valve,Welded Forged Steel Globe Valve,Forged Steel Screwed Globe Valve RST VALVE GROUP CO.,LTD , https://www.stainlesssteel-valves.com
Things to Know About Home Solar Electricity in 2020