Solar Benefits
- Wallet-Friendly One-time Investment for 25 Years: Installing a solar power system is a one-time investment that yields significant long-term benefits. It results in lower electricity bills for several years without straining your finances.
- Reduce Your Carbon Footprint: Solar energy is a sustainable, carbon-free energy solution crucial for achieving climate goals and sustainable development. By harnessing solar power, we contribute to a cleaner, greener environment.
- Evasion from the Greenhouse Effect: Solar power generation involves no harmful emissions, unlike traditional power generation methods. By opting for solar, you play a part in reducing environmental impact and combating climate change.
- Better Grid Security: Increased adoption of solar energy lightens the load on the power grid, enhancing grid security and reducing the risk of power cuts and disasters.
- Limitless and Eternal Solar Energy: Solar energy, derived from the sun, is abundant and inexhaustible. The photovoltaic process requires no fuel and incurs no variable costs, making it an efficient and cost-effective energy solution.
- Save on Electricity Bills: Solar panel installation substantially reduces monthly electricity bills and decreases reliance on the power grid. Solar energy remains a cost-effective and sustainable solution, ensuring long-term savings and investment in the future.
How much does rooftop solar cost? What about government subsidy?
Solar Installation costs depend on factors such as panel choice, system size, and inverter type. The government also offers subsidy benefits to homeowners and housing societies to make solar adoption more accessible.
On July 30, 2022, PM Modi launched the National Portal for Rooftop Solar and a unified solar subsidy scheme for the entire country. Here are the details:
Subsidy for Homeowners
| System Capacity | Applicable Subsidy |
|---|---|
| 1kW to 2kW | ₹30,000/kW |
| 2kW to 3kW | ₹30,000/kW for the first 2kW; thereafter ₹18,000/kW |
| Above 3kW | ₹78,000 fixed |
Now, the Ministry of New and Renewable energy (MNRE) transfers the
subsidy directly to the customer’s bank account within 30 days after local
discom inspection.
To avail the subsidy, there are three eligibility criteria:
- Solar panels must be made in India
- Panels must comply with ALMM specifications
- The solar system should be a rooftop on-grid solar system
Taking the subsidy into account, here’s an estimated cost of a rooftop solar
system (as per prevailing commodity cost as of March 2023):
| System Capacity | Avg. Installation Cost(excluding subsidy) | Subsidy Offered | Avg. Installation Cost(including subsidy) |
|---|---|---|---|
| 2kW | ₹1,85,000 | ₹60,000 | ₹1,25,000 |
| 3kW | ₹2,10,000 | ₹78,000 | ₹1,32,000 |
| 4kW | ₹2,70,000 | ₹78,000 | ₹1,92,000 |
| 5kW | ₹3,25,000 | ₹78,000 | ₹2,47,000 |
| 10kW | ₹5,80,000 | ₹78,000 | ₹5,02,000 |
and inverter type, type of module mounting structure and type of after-sales service opted for.
The installation costs provided above considers: Made-in-India bi-facial monocrystalline panels, No maintenance package/contract, Mounting on metallic shed and String inverters and installation charges.