The number of people who are attracted to the benefits of introducing a Solar Panel system and are considering introducing it is increasing year by year. Nowadays, it is becoming more widespread in general households and corporate facilities, and we often see solar panels installed on land and roofs for the purpose of “self-consumption” and “investment (total power sales)”.
What are the benefits to these people and why are they introducing solar power systems? Let’s take a closer look at the advantages and requirements of PV Solar Panel systems such as reduced bills and solar panel price respectively.
How does Solar Power reduce electricity bills?
The mechanism for using the power generated by the solar power generation system at our own facilities is called “self-consumption solar power generation”. By generating some of the electricity used in the facility in-house, you can reduce your current electricity bill and also reduce the risk of future increases in your electricity bill.
In addition, there are merits such as reduction of corporate tax by immediate depreciation utilizing the tax system for strengthening management of small and medium-sized enterprises, and promotion of environmental management by using renewable energy.
How can use Solar generated Electricity?
All the power generated by the solar power generation system is consumed in-house (self-consumption). By reducing the peak of electricity usage during the day, it is possible to expect a reduction in electricity charges, and it is also possible to appeal to the CO2 reduction effect of the generated electricity as it is. In addition, when small and medium-sized enterprises introduce a completely self-consumed solar power generation system.
While consuming the generated power in-house, the surplus power generated on holidays is sold. The advantage is the reduction of electricity charges from the income from selling electricity using the feed-in tariff (FIT).
How much area is required to install residential solar?
Residential photovoltaics are primarily installed on the roof. Since the output is near about 3kW, it is often introduced for the purpose of saving at home rather than the return on investment. This system is enough to generate about 12 units per day to run the essential appliances in the house.
For example, if you want to install a solar panel that generates 3kW of electricity, you need an area of about 184 square feet of free space. And of course, if you already have another large land, or if you plan to invest it in earnest, you can install a solar power generation of 5 kW or more by using the field installation method installed on the ground.
How much does it cost for a Residential Solar in India?
To this extent, we know about the basic requirements for installing the residential solar but last but not least, talking about the Solar Panel Price is still remaining. As for the residential solar, the whole solar panel system with the solar battery will cost INR 285000 to INR 300000 for a 3KW off-grid solar panel system. However, it can differ according to places and installation complexities but you must consider the price around 3 lacs Indian Rupees.