It drastically reduce or even eliminate your electric bills
Whether you’re a homeowner, business, or nonprofit, electricity costs can make up a large portion of your monthly expenses. With a solar panel system, you’ll generate free power for your system’s entire 25+ year lifecycle. Even if you don’t produce 100 percent of the energy you consume, solar will reduce your utility bills and you’ll still save a lot of money.
Earn a great return on your investment
Solar panels aren’t an expense – they’re one of the best ways to invest, with returns rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, the average Indians homeowner pays off their solar panel system in seven to eight years and sees an ROI of 20 percent or more.
Protect against rising energy costs
One of the most clear cut benefits of solar panels is the ability to hedge utility prices. In the past ten years, residential electricity prices have gone up by an average of three percent annually. By investing in a solar energy system now, you can fix your electricity rate and protect against unpredictable increases in electricity costs. If you’re a business or homeowner with fluctuating cash flow, going solar also helps you better forecast and manage your expenses.
Increase your property value
Multiple studies have found that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. Appraisers are increasingly taking solar installations into consideration as they value homes at the time of a sale, and as homebuyers become more educated about solar, demand for properties equipped with solar panel systems will continue to grow.
Protect the environment
Solar is a great way to reduce your carbon footprint. Buildings are responsible for 38 percent of all carbon emissions and going solar can significantly decrease that number. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year—the equivalent of planting over 100 trees annually.
Rooftop Solar is the new concept that has caught the attention of Solar industry watchers. After an enormous leap towards utility scale solar power plants in India, the players are finally moving to the untapped market of rooftop solar power plants in India. The design of the solar project becomes a challenge of altogether different level.