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What are the financial benefits of solar energy?

Solar energy is a safe, inexpensive, and eco-friendly and it harnesses various financial benefits. Currently, around 1.4 million homes have installed solar systems in India. Below is the list of five financial benefits of solar energy.

Return on Investment.: Solar System is one time investment and payback period is 3-4 years. After that, generated electricity is almost free for homeowners. It offers homeowners a good Return on Investment with better financial security.

Energy independence: Solar System installation offers an independent energy structure to the property without spending tons of money on traditional power grid lines.

Increase in property value: The value of Property increases after installation of Solar Power System.

Homeowner benefits: Central Government and State Government are providing subsidy to Homeowners for installation of Solar System.

Financial benefits of Industry:

  • Solar Renewable Energy Credits: This will allow you to recover solar power installation costs from the energy produced by the solar power system
  • Accelerated Depreciation: It will improve your cash flow, allowing you to finance your solar energy installation costs.
  • Federal Investment Tax Benefit

What are the environmental benefits of solar energy?

Rooftop solar is the most mature societal, environmental and energy sustainability model. It provides an opportunity to invest in its self-reliance. Strengthen one's sense of responsibility, ultimately inching towards the greater good. It offers various environmental benefits of solar energy:

Reduces carbon footprints

Solar panels use sunlight to generate electricity. There is no burning of fossil fuels. So, there is no pollution.

Use of less water

Generating power through solar panels uses less water. So the operation of solar systems reduces the strain on water resource.

Reducing our reliance on fossil fuels

Reduced reliance on finite resources such as fossil fuels and taking advantage of infinite and free energy sources lower energy prices, reduce greenhouse gas emissions and ensure a stable future.

Megamax solar believes in keeping our earth clean and green. Solar Energy is pollution-free, It has no or minimal greenhouse effect and eliminates dependency on fossil resources.

What is net metering?

It is the process that allows system owners to gain extra revenue by selling their excess power to the Electricity grid. With net metering, you will only pay for the electricity you use beyond what your solar panels can generate. In India, net metering was introduced as an initiative to make renewable energy more economical and accessible, with the regulations differing state-to-state.

Advantages of Net Metering:

Extra financial credit: The owners would have an added benefit as they would receive revenue if the energy generated by the owner’s system.

Eliminates the need for battery storage and backup generator: Unlike off-grid systems, there is no need for battery storage systems. It also eliminates the need for backup generators.

Inexpensive and low maintenance: Solar panels require less maintenance. As by using Net Metering Battery is eliminated, maintenance requirement further reduces.

Do my solar panels produce power when the sun isn’t shining?

Solar panels require sunlight to generate electricity. So, they do not produce electricity during the dark hours. Thus, solar power working at night centers around backup batteries. Net metering is one of the biggest reasons that home solar panel systems are a good investment. Net metering is the process that allows system owners to gain extra revenue by selling their excess power to the grid. With net metering, you will only pay for the electricity you use beyond what your solar panels can generate.

Solar panels can work on cloudy days; however, they cannot perform as they would on a clear, sunny day. You may notice some variations in production on your monitoring, which means that the clouds have reduced the efficiency. Solar panels will not operate at maximum production when clouds are blocking the sun and will not produce electricity when there is no available sunlight during night.

Can I go off grid with solar panels?

Yes, you can go off grid by using Battery for storage of electricity and supply electricity as required during nighttime.

Do solar panels work during cloudy days?

Solar panels can work on cloudy days. However, it cannot perform same as sunny day. You may notice some variations in production on your monitoring, which means that the clouds have reduced the efficiency.

Is Roof Top Solar is good choice?

Rooftop solar is the most mature societal, environmental and energy sustainability model. However, following should be ensured before installation.

Condition of roof:

It is advised to repair the roof before installing solar panels. There should be enough space on the roof to support panels. It is also essential to assess whether the roof can hold weight or not to avoid any dangerous situation.

Availability of Sun Light

Solar Panels need sunlight. So, there should not be any shadow on Roof which may block sunlight resulting reduced performance of system.

How long will my solar power system last?

Solar system last 25 Years and more.

Below are tips to increase the longevity of solar panels:

  • Keep your panels away from dust.
  • Regularly monitor and clean your panels.
  • Avail service of a trustworthy solar System provider for Annual Maintenance Contract.

What are the different types of solar panels?

Solar panels come in two kinds: monocrystalline and polycrystalline.

Monocrystalline solar panel: This type of solar panel, made of monocrystalline silicon, the purest form, is easy to recognize from its uniform dark look and rounded edges. The monocrystalline panel has one of the highest efficiency rates, reaching above 20% due to the high purity of the silicon.

These panels have a high-power output, occupy less space, and are durable, making them the most expensive. Another advantage is that they tend to be slightly less affected by high temperatures compared to polycrystalline panels.

Polycrystalline Solar Panel: These solar panels have squares and a blue, speckled look. They are typically made by melting raw silicon, which is a faster and cheaper process than monocrystalline panels.

It is comparatively less expensive and offers less efficiency (around 15%) than monocrystalline panels. They occupy lower space and have a shorter lifespan since they are affected by hot temperatures.

Do I need to install solar batteries with my solar power system?

Battery is required for Off Grid systems. In case of good Grid Connected system Battery is not required.

Trust & Warranty

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Efficiency & Power

Efficiency & Power

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