The main purpose of the solar power introduction is the decrease of monthly bills for electricity.
Let’s take an example such that if a person has a 4000 monthly bill, then the annual cost becomes a bulky sum of ₹48,000. What is even more scary is that despite the notional expenditure increase of 3-10% for an Aadhaar loan during the subsequent 25 years, the total expenditure required will continue on a steady upward trend which when projected becomes a hefty ~₹12 lakhs.
Such a rescue scenario may seem high-demanding, but there is a trace of a remedy to it. A 5 kW solar system, with the cost coming around ₹2,50,000, is the right way to go in terms of the amount of energy you consume. Moreover, the government furnishes a subsidy of ₹51,058 for so-called Smart Meters.
Consequently: Would you like to put your face against the electricity budget bill of more than ₹12 lakhs or you would opt for a one time expense of about ₹2 lakhs as you will be free from this annual expense?
*The information mentioned above including detailed financial data like the profit and return, etc. should be considered as comparative analysis and not the actual figures. Please make the contact detail of your advisor available, so that you consult about this financial advice with a specialized financial advisor. Fenice Energy is not obliged to provide financial advice and takes no responsibility for itself in the matter.
Apart from that :
Energy Generation
Solar panels produce electricity in the day; they are meant to be used in the house for appliances and bulbs. By Carrying Out Solar Power, The Count Of Reducing Load On Grid Will Be Increased And Impact On Electricity Consumption Will Be Minimized
Net Metering
The moment is known as Net metering, which pays you for surplus energy that goes off your house’s circuit to the grid. At times like cloudy days, the grid electricity is supplied to your home instead of your credits for the environment due to the lack of solar energy. Scale up and start-up fees are based on the amount of energy imported from the grid. You get paid for your excess percentage .
Avoid Utility Rates
Solar energy should be generated for the purpose of lowering the electricity price and reducing the needs for electricity grid. As a result, residents can be saved from the rate increase. In the financial year 2023–24 the tax was 2.2% more in Tamil Nadu and 2.9% more in Maharashtra.
Incentives
You may sometimes be able to achieve this with the help of grants, subsidies, and low-interest loans; thus, allowing a significant reduction in your upfront expenses. Just register with India’s MNRE portal through the receipt on your bank account. Act now!
Key Tip!
Listen to one of our customers on why they chose to go solar. Mr. Vamishikrishna from Hyderabad decided to install 5.03kWp at his home. Check out his journey of going solar.
