Have you been looking for alternatives to offset those sky-high summer energy bills? Solar power may be the solution you are looking for. Solar power is a renewable energy source used to generate electricity for your home, community, and business. It is one of the most efficient and cleanest energy sources available today. There are various benefits to using solar power, such as saving on your energy bills, reducing your carbon footprint, and many more.
Top Benefits to Install Solar Panels in Home
As the world shifts more towards greener energy solutions, solar panels for residences are gaining huge popularity. According to the International Energy Agency (2017) report, the use of solar energy has rapidly increased, and its growth is higher than that of all other fuels. Here are 6 top benefits of solar panels in homes in India.
Save Money on Your Energy Bills
We can’t deny the fact that non-renewable energy sources are depleting at an accelerated rate. Eventually, this will lead to an increase in the price of electricity and fuel for consumers. According to Statista, the cost of electricity per kilowatt hour in India nearly doubled from 2012 to 2022. Hence, solar power will remain a good money-saving option for years to come, as it offers great potential to reduce 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.
Affordable and Suitable for Indian Climate
Most Indian homes do not have enough space to install the rooftop solar panel. But it doesn’t mean solar panels are unsuitable for the Indian climate. India is closer to the equator; hence, it receives sunlight and UV to supercharge solar panels quickly and efficiently. Therefore, it is perfect for the Indian climate. But at Fenice Energy, we offer solutions that will bridge this gap. Our rooftop solar panel solutions are designed specifically for Indian homes to take up minimal space while capturing maximum sunlight for greater power. Additionally, residential solar instalments are more affordable, considering the extension of the federal residential solar tax credit. Now, taxpayers can claim up to 30% tax credit on the cost 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%.
Secure Investment with Attractive Returns
Did you know a solar rooftop installation can reduce 80-90% of the electricity bill every month? Every investment comes with some level of risk, from stocks and funds to real estate. However, solar power is an attractive investment option with high returns. Wondering how? The average return on investment (ROI) for rooftop solar power in India is 25-30%, and the payback period is 3-4 years. What does this mean? This means that once the initial installation cost 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 reducing your carbon footprint and protecting the environment. Note: If all of this sounds too good to be true, check it for yourself using our solar calculator. Enter your details and see how much you could save by switching to solar power.
Reducing Your Carbon Footprint
One of the shocking facts revealed by the researchers is that global carbon emissions reached a record high of 40 billion in 2023, including 37 billion from fossil fuels. So, one of the biggest benefits of solar power is that it helps reduce your carbon footprint. By generating your own electricity with solar panels, you can significantly reduce the amount of greenhouse gas emissions.
Providing a Backup Power Source
Solar power can provide a reliable and unhindered backup power source during power outages. If there is a power outage or if the grid goes down, your solar panel will continue to generate electricity, ensuring the smooth running of your appliances.
Increasing the Value of Your Home
For most Indians, buying their first home is an emotional investment and a lifetime commitment. But did you know that your home property value will increase if you have solar panels? According to the National Renewable Energy Laboratory (NREL), installing solar panels can increase your home value by up to 4%. This also translates to the highest market value when selling your home.
Solar power is a secure investment for Indian homeowners for several reasons, from being cost-effective and affordable to increasing your home value. If you are considering solar power for your home, contact Fenice Energy today. We will be happy to help you find the best solar solution for your needs and guide you on how to install solar panels at home in India.
