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How Implementing Roof Top Solar Plants Can Cut Down Your Energy Expenses

  • Highlights

  • Rooftop solar plants decreases power bills

  • A clean and inexhaustible energy source

  • The cost of installation

  • The savings outdo the installation costs

Tapping the rooftop solar market will be essential for India to meet its massive energy needs. As per government data, India’s cumulative installed capacity of rooftop solar stood at 982 MW as of December 2017, and lot of ground needs to be covered. India aims to generate 100 GW of solar energy by 2022.
According to Simon Stolp, lead energy specialist at the World Bank, "Solar parks need land, and land is scarce in a densely-populated country. Rooftops, on the other hand, hold huge potential."
Sunlight is an abundant resource which can be tapped efficiently to power factories. Unlike coal-fired energy sources, it is not only a clean source of energy, but is also cost-effective. If you own a factory, you can utilise rooftop solar panels to reduce your energy expenses.

The cost of installing a rooftop solar plant

The initial costs for the installation of rooftop solar systems are high. For a solar grid with a capacity of 110 - 130 kWp, the initial costs can be at least Rs. 1 crore. This will gradually be dwarfed by the power bill savings during the life cycle.
The rooftop solar system installation cost can be offset with the help of special Loans for Engineers up to Rs.15 lakh which are quick, easy and hassle-free. The savings made on implementing such a system can be easily used to pay flexi engineers loans, which are 45% lower than your regular EMIs.

a. Reduction in Power Bill

Solar solutions reduce your power bill. For example, Bhusari Cold Storage Pvt Ltd (BCS) utilised 10,000 sq. ft. of their roof space to install 100 kWp grid connected rooftop solar system. It will cater to their power demand of 320 kWh to 1200 kWh per day. The estimated power bill savings is Rs.465 lakh, over the project lifetime of 25 years, along with water savings of 2,43,000 litres. The money saved can be hence reinvested for business expansion.

b. Low Maintenance Costs

Solar power systems including solar panels, inverter require low maintenance. This is due to the lack of moving parts, which are prone to wear and tear, and consequently, high repair or replacement cost.
The only maintenance factor for solar panels is keeping the panels free from dirt and debris as it may hinder absorption of sunlight, and subsequently generation of electricity.

Engineer Loan | Features and Benefits

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