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An unlimited supply of clean energy

  May 24, 2021   

Top 10 Economic Benefits of Going Solar

Top 10 Economic Benefits of Going Solar

Did you know the energy that the sun provides to our planet earth for one hour is capable of meeting the global energy needs for a whole year? Undoubtedly, the sun is an infinite and powerful source of energy. So, harnessing this power by going solar can make a vital difference to the planet.

There are varied reasons for an individual to opt for solar, which could range from environmental concern to seeking economic solutions. However, here are the top ten reasons why solar energy is great for your home and has gained more popularity than ever in India.

1. Drastic reduction in electric bills

Whether you’re a business owner or a homeowner, electricity bills can add up to a large part of your monthly expenses. With a solar panel system, you can easily produce free power throughout the lifespan of your system, which is 25+ years.

2. Get high returns on your investment

Solar panels need to be looked at as an investment, and not an expense. Thanks to considerable savings on the electricity bill, the average Indian homeowner pays off for their solar panel system in around 7 to 8 years and sees an ROI of 20% or more for the next 25+ years.

3. Saves you from rising energy costs

One of the most evident benefits of solar panel technologies is their capability to hedge utility prices. In the past decade, residential electricity rates have risen by an average of 3% annually. However, by investing in a solar energy system you can simply save your pocket from ever-increasing tariff rates. If you’re a business owner or homeowner with varying cash flow, going solar will also help you get a better estimate and manage your expenses.

4. Increase the value of your property

Various studies have found that properties equipped with solar power systems have a higher value and sell more quickly. Evaluators are considering installing solar power systems to increase the value of homes at the time of selling them. As homebuyers are getting more educated about the benefits of solar power, the demand for properties furnished with solar systems will continue to grow.

5. Boost India’s energy independence

We all know that the sun is a never-ending source of energy and an essential element of achieving energy independence in the country. By developing our capacity to produce electricity from the sun, we can also protect India from fluctuations in prices in global energy markets.

6. Create jobs and support your local economy

According to various researches conducted, the solar industry is adding jobs faster to the Indian economy. This growth is expected to last for a long time. The jobs related to solar energy tend to be higher paying and these jobs cannot be outsourced. Hence, are a significant contributor to the Indian economy.

7. Protect the environment

Solar energy is an exceptional way to reduce your carbon footprint. Around 38% of all carbon emissions in India occur from buildings, and going solar can significantly lower this number. A standard residential solar system reduces around 3 to 4 tonnes of carbon emissions which is almost equivalent to planting over 100 trees each year.

8. You get to show your commitment to sustainability

Sustainability and corporate civil responsibilities are essential parts of the culture and values of an organization, producing bottom-line returns. More consumers and communities are acknowledging and rewarding businesses that prefer to operate responsibly. Companies are discovering that “green” credentials are a strong driver helping a consumer make a purchasing decision, creating goodwill, and growing business results.

9. Decrease dependency on foreign oil

Although it’s a little political, but in case you have any interest in withdrawing dependency on foreign countries for any kind of energy, then solar power panels are the best choice for you. Not only this will help in decreasing foreign dependency but also result in increased jobs in the country.

10. Stay competitive

Companies are recognizing the social and economic advantages of embracing solar power. As early adopters trail ahead of the competition, numerous companies are exploring and adopting solar power as a way to keep up with the pace.
We hope the above-mentioned benefits will encourage you to be a part of the evolution of solar energy by going solar this year. So start taking control of your power and energy through rising electricity prices, irregular electricity bills, and extreme weather conditions. You can simply contact us, the best solar company in India, to learn more about the reasons to go solar. We can answer any of your questions and discuss the most suitable options for your home or business!

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