You can make and save money with solar panel installation. Yes, it is true. With solar investment, you can earn money for every kilowatt-hour injected back into the main grid and get a good tax credit amount. To achieve the aim of reaching a solar capacity of 450 GW by 2030, the Indian government has launched several solar subsidies, tax incentives, and other financial benefits for residential and commercial solar panels. You can save more than 80% on your electricity bill per month. Also, the tariff for the upcoming 25 years is pre-decided while signing the PPA (power purchase agreement). But, to avail all the benefits, you need to make the right solar investment decision.
The solar investment will save money only when you make the right decision
Although solar systems like solar garden lighting installation, solar rooftop panels, on-ground solar systems, and more are considered cheaper and cleaner power solutions, they will not necessarily prove beneficial for all homeowners. There are some major challenges that homeowners and businesses are encountering after installing solar systems in their buildings –
Purchasing solar systems don’t include just the lowest initial cost but it would be the biggest headache for homeowners. Investing about 2,00,000-10,00,000 Indian Rupees for solar system installation is not easy for a common man. They would prefer installing other essential equipment instead of installing alternative energy sources.
Lack of satisfaction
Some homeowners have stated that they are not satisfied with the solar services. It has been found that in most cases, the service provider disappeared leaving their customers with poor service and satisfaction.
Since solar systems are believed to provide cost-effective power solutions, buyers of solar systems have double expectations of their systems. They want their solar technologies to reduce the monthly electricity cost and expect all home electrical appliances to work effectively during load-shedding.
The performance of residential solar systems varies based on the solar panels, and inverters, how perfectly several components are designed, and how perfectly the installation process has been done. Purchasing a poorly engineered system or wrong installation can negatively affect the system’s performance and the ROI (return on investment) for solar-powered businesses.
For proper solar panel installation, you would require enough space on the roof or the ground based on your system type. For example, for solar water pumping station installation with a 1kW power production capacity,you may need at least 10 square meters of space. If a specific person doesn’t have that space or the area is covered with shady obstacles, he or she can’t save money with the solar system.
All products including solar systems are priced based on their performance and lifespan. Solar equipment designed for 25+ years of durability will cost more than a system that has a shorter lifespan. The durability of the solar system is also dependent on the mounting structure. If the base like your building rooftop is not strong enough to support the panels, a huge amount of money will be wasted.
The net metering policy that allows solar energy users to claim credit or cash for sending or selling the excess energy to the grid sometimes remains a major challenge for users. Many people said that this option is not as easy as it sounds. They deal with several issues while procuring the net meters. It is completely different from what is mentioned in the papers.
Residential Rooftop Solar is Bought Only Once, So Choose Wisely
Unlike household appliances like refrigerators, ovens, ACs, etc., rooftop solar systems for houses can be purchased only once in a lifetime. However, once you buy the most appropriate solar panel for your residential property, you can expect it to last for about 25-30 years. So, you need to be more careful in finding a reputable solar installer and purchasing a suitable solar system based on your home power needs. The reliability and quality of a solar system are based on multiple factors including –
- The design and engineering of a system and associated components
- The system brand and certification
- Material quality used
- Installation practices and standards followed
- Roof safety and electrical loads
- Warranty support and annual maintenance contract
- After-sales services
Tips for the Right Solar System Installation
If you are interested in installing solar panels to bring down the monthly electricity bills considerably and save more amount of money, then keep the following things into consideration.
- The first step in purchasing a solar power system is finding your monthly electricity requirements by analyzing your electricity bills for the last year. It will help you in deciding the right size of the solar system you need.
- Determine the length of a manufacturer’s warranty as it impacts how long your solar system will last. If the trusted manufacturer provides at least 25 years of warranty for a panel, you could expect a longer lifespan of your system.
- Based on the brand, type, and size of the solar system, consider the cost attentively before making the final purchasing call. Compare different components, warranty period, and maintenance services with the company providing installation. Check with the local government to find out what incentives are provided in your area.
- Research the brand and certification to find out the type of testing a specific system has undergone and if it has met all quality standards.
- Determine the type of solar panel you need for your residential or commercial property and solar panel mounting because filling up the roof or ground with inefficient panels can affect the ability to include more panels and doesn’t produce maximum output.
- Check the installation space in your area ensuring the system absorbs enough sunlight throughout the day and faces south direction. There must be no shady area to prevent the sun’s heat absorption on the surface of the panel.
- Understand solar panel, battery storage, and solar inverter efficiency.
- Select the right solar installer ensuring they provide an annual maintenance contract for your system. Make sure that you purchase a solar system from an authentic supplier who is listed as a genuine company by the MNRE (Ministry of New and Renewable Energy).
So, if you want to save a good amount of money over the 25 years of lifetime durability of your solar panel, make a wise decision. Contact Megamax Solar to find and install premium quality solar system for your residential or commercial building with full customer support.