Solar power is a source of sustainable energy used to generate electricity for homeowners and communities. It is one of the most efficient and cleanest energy sources available today. The leading energy services company tells us about the advantages of solar power for residents.
Benefits of solar power for homes
The following are the benefits of installing solar power in your home:
- Saves money on energy bills :-
We cannot deny the fact that non-renewable energy sources are depleting at an alarming rate. In due course of time, this will result in an increase in the cost of electricity and fuel for consumers. According to studies, the price of electricity per kilowatt hour in India nearly doubled from 2012 to 2022. Therefore, solar power will remain a good money-saving option in the future, as it offers great potential to lower monthly utility bills. The only costs you will have are the initial investment and maintenance, whereas the electricity that your solar panel generates is free.
- Reducing the carbon footprint :-
According to research, global carbon emissions touched a record high of 40 billion in 2023, including 37 billion from fossil fuels. So, one of the biggest advantages of solar solutions is that they help decrease the carbon footprint. By generating energy with solar panels, you may significantly lessen the amount of greenhouse gas emissions.
- Secure investment with attractive returns :-
A solar rooftop installation may reduce 80-90% of an electricity bill on a monthly basis. Moreover, solar power is considered an attractive investment option with high returns.The average return on investment (ROI) for rooftop solar power in India is 25-30% and the payback period is 3-4 years. This means that once the initial installation price is recovered, the electricity generated for the next 18-22 years will be virtually free. Investing in solar energy is also a green investment, which means that you have a feel-good factor about investing in solar power, knowing you are lowering your carbon footprint and protecting the environment.
- Affordable and suitable for the Indian climate :-
Most houses do not possess enough space to install a rooftop solar panel. India is closer to the equator; hence, it receives sunlight and UV to supercharge solar panels efficiently and quickly, making it an ideal option. Rooftop solar panels are designed specifically to take up minimal space while capturing maximum sunlight for greater power. In addition, residential solar instalments are more affordable, considering the extension of the federal residential solar tax credit. Now, taxpayers may claim up to 30% tax credit on the price of solar systems on their income taxes. You just need to be sure to install yours before January 1, 2033, when the tax credit is set to decrease to 26%.
Conclusion
To sum it up, from the above points we derive that solar power is a secure investment for Indian homeowners for several reasons, from being cost-effective and affordable to reducing the carbon footprint.