The benefits of adopting solar energy by homeowners are well documented. From saving up to 80% on monthly electricity bills to promoting a sustainable society, going solar has proven to be a wonderful investment for homeowners across the country. Mr Sushil Sharma, a homeowner who decided to go solar with MYSUN in Greater Noida, shared his experience in a video here:

It is for the wide availability of solar energy that the installation of PV rooftop solar systems has grown at an impressive rate in the country, increasing from a capacity of 5 MW in 2010~11, to over 5000 MW in 2019~20.

If you are a homeowner you must have already evaluated the benefits of going solar. Being an expensive purchase decision that you will have to live with for 25-years, it is prudent to do a thorough research before making a move. With this blog post, we will bring forth the answers to 11 crucial questions which you must know before installing solar panels on your residential property. We are sure these answers will make your solar journey easy.

1. Can you meet 100% of your residential power requirement with Solar Energy?

Yes, with a well-engineered solar system, you can generate enough electricity required to meet the complete power requirement of your house. However, there are certain factors that may influence your energy generation capacity otherwise. Factors such as your available shadow-free roof area, your sanctioned load, your power consumption, and the solar policy of your state. Here’s how:

• If the shadow-free area available at your rooftop is less than the area required to install the number of panels needed to meet all your energy needs, then you might have to go for a low capacity solar system. In such a scenario, the electricity generated by your solar system might fall short of your total household requirement.
• Solar policies of most India states confine the installation of residential solar systems to be less than or equal to the sanctioned load, especially in the case of on-grid solar systems. In such a case, if your power requirement is more than your sanctioned load then again with the solar system you install, you might not be able to meet all your energy requirements. The good news is that you can apply for an increment of your sanctioned load with your DISCOM and thereafter install a system size as per your requirement.
• If your household energy consumption increases drastically after you have installed a solar system of a particular size, then again the energy generated by your solar system might fall short. In order to tackle this, you can later increase the size of your solar system keeping a note of your shadow-free roof area, your sanctioned load and your state’s solar policy.

2. How much can solar save you on your residential electricity bills?

For residential power consumers, the monthly savings from solar can be as high as 80% and in some cases even more. However, before you order your solar system you should try to determine your savings in absolute values by as much as possible. The reason being - the savings from solar is relative to the unique energy profile of your home. You can estimate your savings my running the MYSUN Solar calculator and taking a site survey from MYSUN Solar Engineers.

3. Is your house eligible for availing net-metering? If yes, when should you apply for it?

Net-metering is a crucial functionality that increases savings from solar if you go solar with an on-grid or hybrid solar system. It helps you export the surplus electricity generated by your solar system to the grid in exchange for compensation.

Currently, the facility is available for homeowners across all states in India. However, the benefits from it may differ depending on the tariffs laid down by the respective states.

You can apply for net metering both before and after your solar PV system installation. However, for convenience, we suggest you apply for net-metering before the system installation.

4. How much will it cost to install your residential rooftop solar system?

The cost of solar systems has fallen dramatically over the past 10 years. To put it in perspective, a typical 1 KW Solar system which was available for approximately INR 145/Wp in the year 2000 is today available for approximately INR 35/Wp. The final cost however varies depending on the quality of components, the expertise of the solar installer and the scale of the project. Since residential solar systems are smaller in size, the per KW cost tends to be higher compared to commercial/industrial solar systems, given the lower scale of operations. The key here is to not compromise on the quality of the components and the expertise of your installer. Benefits from solar are reaped in 25 years, and you don’t want to have any unpleasant experience for a short term gain. To know the estimated cost of your optimum residential solar system, you can run the MYSUN Solar Calculator here.

5. Is there a way to make the cost of your residential solar system more affordable?

Yes, you have the option to make this cost of solar systems more affordable with the MYSUN Residential Solar Financing Option - The MYSUN Flexi Pay. When you go solar with MYSUN, you can defer the cost of solar in easy monthly instalments. If you would like, you even get to choose a solar loan from numerous MYSUN partner banks at attractive interest rates.

6. How soon will your solar system break even?

With a well-configured residential solar system, you can expect your break-even period to be achieved within 3~4 years. The breakeven period is however dependent on the system size and the DISCOM tariff rate of your state. The point to note here is that since the returns from solar are in the form of savings, the returns are assured. To know your estimated return on investment and payback period you can run the MYSUN Solar Calculator.

7. Is your home rooftop a good candidate for installing solar panels?

Checking the durability of your rooftop is extremely important. Your rooftop should be equipped to withstand the weight of the panels and the mounting structures. If your rooftop is not firm, don’t consider going solar until you have repaired it well. Also, since most houses in India are built too close to each other, it is imperative to check that your rooftop is free from any shadows being cast by nearby buildings/objects.

8. Will you be eligible to claim tax benefits on your residential solar investment?

Currently, there are no tax benefits available for residential power consumers. However, the savings on electricity bills themselves are so significant that the investment is worth going for.

9. Can you shift your residential solar system to a different location?

Yes, you can always uninstall and reinstall your solar system in a new location. However, the attempt made should be a careful one so that no damages are caused. Do check the way to go ahead in detail with your solar installer.

10. Who should you choose to buy your residential solar system from?

Your solar installer will be your partner in crime throughout the 25 years of your solar journey. It is therefore extremely important to choose the right solar installer in whom you can have faith in times of need. The best way to start is by identifying their local and national presence, followed by the expertise of their team, the projects they have commissioned and the reputation they enjoy among their stakeholders. Talk to other homeowners who have gone solar with them. At MYSUN, our team has helped numerous homeowners realize their true potential of solar. And it is this invaluable effort from our team which has garnered great reviews from our customer on platforms like Google and Facebook.

11. How can you ensure the good health of your residential solar system for 25 years?

Ensuring regular service and maintenance is the key. Residential solar systems are considerably smaller in size and can therefore be maintenance by oneself. However, it is suggested to opt for a service and maintenance package as it eliminates the risk involved in the job and ensures timely action. Some other ways to ensure the good health of your solar system is to go for premium quality modules as they are more durable than the regular ones and to opt for solar insurance as it safeguards your system against events like fire, theft and burglary. With MYSUN’s exhaustive operations and maintenance package - the MYSUN Care, homeowners get an option to avail 25-year assured service solution at a minimum payable amount. You can opt for it and lead a worry-free solar journey by leaving the maintenance of your solar system at the hands of our operations and maintenance team.

These 11 questions will help you make an informed choice when going solar. Knowing the answers to these will help you in making the most from your residential solar investment. If you have more queries related to solar, comment your question in the comment box below or write to MYSUN Solar Advisors at [email protected].

The MYSUN Solar Calculator, India’s most popular online solar self-assessment tool, has helped millions of Indians evaluate their solar potential. Backed with AI technology, the calculator has enabled the power consumers of the country to pre-estimate their savings, investment and return on investment from solar as per their unique geographical location.

Having empowered consumers across categories- Residential, Commercial & Industrial with the ability to simulate their personalized solar benefits, the MYSUN solar calculator has today become an indispensable step in the solar journey of home and business owners in India.

This growing significance of the calculator is one of the key reasons why we continue to pay persistent attention to the calculator’s user experience and recently worked on improving it even further. Today, with the help of this blog we hope to bring forth the new upgrades and amazing features which entails all-new MYSUN Solar Calculator.

New Features of the MYSUN Solar Calculator

In addition to the already existing functionality which fetches you your solar savings, optimum system size, required investment, and return on investment, the new features added to the upgraded version of the MYSUN Solar Calculator can be grouped broadly in these three categories:

1.Complete New Interface for a Better User Experience

2. Exclusive Financing Fold for clear comparison of your Financing / Ownership Options

3. A Complementary detailed report for more flexible assessment

1. Complete New UI for a Better User Experience

User experience is critical for gaining affinity towards any product that we use. The upgraded MYSUN Solar Calculator therefore has an improved experience at the core of its build. The new MYSUN Solar Calculator brings several advanced personalization options giving the users a complete control of their solarization requirement. The upgraded version provides you a one-stop destination for all your solar calculations. The neat design groups and divides the features into separate folds making it easy for you to navigate through both - the technical and financial aspects of the output.

While the first fold displays an easy to comprehend basic assessment of your solar potential, the second fold displays the advanced customizable features, making it easy for you to input the values as per their unique architectural requirement and check the impact of these adjustments on your energy generation, savings and returns from solar. For example, if your rooftop structure is sloping instead of flat, with the new calculator you can now check its impact on your system’s energy generation capacity and thereby your returns from solar. Based on this you can determine if you need to opt for a higher system size to meet your power requirements, given you have sufficient roof area and flexibility to increase the system size as per your sanctioned load and your state’s solar policy.

You can also check your precise solar potential by adjusting the sanctioned load, connection type i.e low tension/ high tension, net-metering preference, available roof area, solar energy consumption and shadow casting objects as per your specific requirement. You can even check your savings from solar as per the orientation of solar modules i.e. east, west, north or south facing. The new MYSUN solar calculator thus, gives you the ability to access your benefits from solar more accurately than before.

2. An Exclusive Financing Fold for Solar Financing Comparisons

The improved MYSUN Solar calculator now carries an exclusive Financing fold to demonstrate the various financing options which you can opt for while going solar. In a well demonstrated comparison between CAPEX(Capital Expenditure), DPA(Deferred Payment Agreement) and PPA(Power Purchase Agreement) models of financing/buying solar, the financing fold illustrates the financial gains that you can be reaping or missing out on by choosing a particular solar financing option.

For example, if you are a commercial category power consumer from Delhi with an average monthly electricity bill of INR 1 Lakh, the calculator shows how your savings from solar will be the highest if you went solar under CAPEX model of buying solar than the DPA or PPA.

The financing fold also shows you the Payback period and the Equity IRR of your solar investment, thereby helping you compare and find your optimum solar financing/buying model as per your financial need/situation. For example, as shown by the calculator below, a commercial business unit from Delhi with an average electricity bill of INR 1 Lakh can expect to earn the payback from its solar investment in 1.9 years in case of CAPEX and 2.2 years in case of DPA. Post this timeframe, the business can enjoy electricity from solar virtually for free.

In addition to these, the financing fold also brings forth what often gets overlooked when choosing an optimum solar buying model, i.e the Levelized Cost of Power to you - the average per unit cost of energy which you will incur in each of these solar financing/buying models in the next 25 years of your solar journey. In the case of the above example, the levelized cost of power for a commercial set up in Delhi with INR 1 Lakh monthly power bill will be the lowest in case of CAPEX followed by DPA, PPA and then the grid electricity:

3. The Complimentary Detailed Report to give you more flexibility

While providing a detailed online assessment of your solar potential, the new MYSUN Solar calculator also allows you to take your initial assessment offline, thus, giving you the opportunity to document and discuss the assessment with your team and family. Generated by AI technology, the downloadable report-cum-proposal gives you a detailed overview of your benefits from solar along with the cost involved and the deliverables you can expect when you go solar with MYSUN. This makes it easy for you, especially if you are a business leader, to arrive at a more thought-through decision on how you should be proceeding with your solar system purchase. Being indicative in nature, you can connect with MYSUN Solar Advisors for a more accurate proposal.

Going solar is a one-time investment the benefits from which you will reap over a period of 25 years. To make the most from this investment, it is best to have a clear picture of where the investment will lead you or your organization. The upgraded MYSUN Solar Calculator makes it easy for you to figure out the same and know your returns from solar in a more quantifiable and appealing manner. Run the MYSUN Solar Calculator now and start your solar journey today.

Innovators from all around the world have showcased some unimaginable applications of solar energy. From solar roofed bike lanes to solar paints, from solar-powered clothes to solar cars, the energy has been used by creative minds in unfathomable ways. This MYSUN blog series - interesting ways the world is using solar, is an attempt to give a stage to such incredible innovations and thereby spread awareness on the viability of solar energy.

Adding another innovation to the list, here is one more exciting application of solar energy right from the most premium technical institute of India: Solar-powered Pest Control System from IIT Kharagpur.

The Innovation: Solar Powered Pest Control System

Researchers at IIT Kharagpur have developed a self-driven high-performance pest controlling device. Powered by solar energy, the device has been built with the idea of helping marginal farmers spray pest controlling liquid chemicals in agricultural tracks. Packed with the ability to guide safely through the tracks the device is being said to reduce manual labour while providing uniformity in liquid spraying. Masterminding this innovation is Prof. Hifjur Raheman, Anup Behera Rahul K and Prof. P.B.S. Bhadoria.

How does this Solar Powered Pest Control System Work?

Built on a three-wheeler trolley, the solar-powered pest control system has been created with an assembly of a propelling unit, a liquid storage tank, a DC motor operated pump, spray nozzles, a solar-powered battery and a solar panel. The DC motor operated pump pressurizes the liquid to be spread, and multiple nozzles mounted on a boom help the system spray the liquid in a wider width at a time. The solar panel installed on the rooftop of the device creates and supplies the energy required to run and navigate the semi-automated system. An operator is needed to control the movement of the spraying units.

MYSUN’s Take on the Innovation

The development of this device is another testament to the utility of solar energy. It demonstrates how with a little innovation the energy from the sun can be applied to any appliance or technology that we need. The success of innovations like these goes to show the instrumental role solar energy can play in reducing our dependence on fossil fuels. It will be interesting to see how this idea scales up and is commercialized. We are sure there are many more innovations coming along the way which will transform the way we consume energy today.

The 2021 Union Budget was one of the most keenly anticipated budgets in the history of modern India. Read-out in the backdrop of the global pandemic the budget came with high expectations. Some of the major announcements made included - allocation of Rs 35,000 Crores for manufacturing and distribution of COVID-19 vaccines, allocation of Rs 1.97 lakh crores for nurturing of global manufacturing champions to increase jobs for the youth, increase in FDI from 49% to 74% for the insurance industry and a vision to launch 7 more textile parks along with a mega-investment in textile parks within the next 3 years.

Another important announcement was the decision to break the monopoly of the DISCOMs by offering the customers a choice. The Finance Minister was quoted saying, “Distribution companies across the country are monopolies, either government or private. There is a need to provide choice to consumers by promoting competition. A framework will be put in place to give consumers options to choose from among more than one distribution firm”. INR 3.05 trillion has been sanctioned for the DISCOM reforms.

The Announcements Made for the Renewable Energy Industry

For the renewable energy industry, the sanctions announced included a grant of Rs 1500 Crores to Indian Renewable Energy Development Agency Limited (IREDA) and of Rs 1000 Crores to Solar Energy Corporation of India(SECI) for the growth of the renewable and solar energy sector in India. The announcements also included an increase in duty on solar inverters(from 5% to 20%) and solar lanterns(from 5% to 15%) for the encouragement of domestic production.

MYSUN’s Take on the Budget

Riddled with the pandemic and the subsequent lockdowns, the growth of the solar industry has seen a slowdown across both the manufacturing and installation categories. As per media reports, the solar installation category alone has seen a drop of 81%, from 1.1 GW in the first quarter of 2020 to 205 MW in the 2nd quarter of 2020.

The increase in duty for solar inverters is likely to increase the cost of solar systems. This new inclusion along with the existing safeguard duty of 14.9% on imported solar modules will make going solar more costly. Furthermore, with no clarity now on how the funds allocated to SECI is going to be used, and levying of the duty on solar batteries in a time when the domestic manufacturing industry is far from being formidable, the budget presented, though good for the overall economy, seems uncertain of bringing significant positive transformations in the solar industry.

2021 has barely begun and there is already great news for commercial and industrial power consumers of Gujarat. The state, which ranks 2nd in the country with an installed solar capacity of over 5000 MW, recently released its new solar policy with a vision to increase its dependency on renewable energy and promote solar among MSMEs/Industries in the state. The policy, as stated by the Chief Minister of the state, will reduce the cost of production for industries by increasing the consumption and production of solar energy within its geography. Here are the incentives and benefits from the policy that you as a business owner can avail by going solar in Gujarat:

1. Freedom to install a solar system of any capacity

The new policy allows any person /developer/consumer to set up solar projects without any capacity ceiling; the existing ceiling of 50% sanctioned load / contracted demand has been removed. This gives the liberty to commercial and industrial power consumers in the state to utilize the full potential of their rooftops by going solar.

2. Opportunity to install solar systems for self & third-party consumption

The policy states that consumers can set up solar projects on their roof/premises or can give their roof/premises on lease to the third party for generation and consumption of power in same or different premises. This brings in great benefits for businesses with available spaces who may or may not have solar energy requirements. Such businesses can use their premise to install a solar system for self-consumption or gain financial advantage by leasing their space for solar installation.

3. Facility to go solar in collective ownership model

The new Gujarat Solar Policy has also brought in a provision to allow a group of consumers to set up solar projects for self-consumption. The owners of the project can consume the generated energy in the ratio of their ownership. This makes going solar easy for businesses with limited/tied-up capital.

4. More incentive for the surplus energy generated from the solar system

The policy entails that the surplus energy generated from the solar project after set off on the billing cycle basis shall be purchased by respective DISCOM at INR 2.25. This is an increase from the earlier net-metering tariff of INR 1.75. However, the policy has conditioned this increase in tariff for a period of 5 years after which the surplus energy shall be purchased by DISCOM at 75% of the simple average of tariff discovered and contracted under competitive bidding process by GUVNL(Gujarat Urja Vikas Nigam Limited).

5. Provision to go solar under Power Purchase Agreement

With the policy allowing third party installation of the solar system, businesses in Gujarat have now the option to go solar with a PPA(Power Purchase Agreement) Model of buying solar. Being prohibited earlier, this new inclusion in the policy would give another means to businesses to adopt solar in a pay per-unit cost model and thereby avoid the capital cost of the solar system.

The new Gujarat solar policy is in line with the state’s vision to boost its renewable energy capacity. The decisions of removing capping on solar installation, allowing PPA, increasing the tariff on surplus energy generated by solar systems, permitting installing solar for self and third party consumption, and legitimizing collective ownership of solar plants for self-consumption are all favourable moves for the heavy power consumers of the state. Businesses will benefit from these. However, certain ambiguities like, the permissible limit of net-metering being 50% of the sanctioned load as per the state’s current net-metering policy of 2016, remain yet to be clarified to form a conclusive understanding of the savings that power consumers can actually make on their power bills with solar. We are positive that the policy will accelerate solar adoption in Gujarat and enable many more businesses to go green.

Madhya Pradesh, the second largest state of India, is one of the fastest-growing economies in the country. The state’s GSDP grew at a CAGR of 13.78% between 2015-16 and 2019-20. With a GSDP of Rs. 9.07 trillion the state ranks 10th in the country. The state also enjoys a good reputation in the ease of doing business and has recently moved up to the 4th position in this metric, after Andhra Pradesh, Uttar Pradesh and Telangana. The state has witnessed an increase in the number of MSMEs over the years from over 19,000 in 2012~13 to over 87,000 today. Businesses operating in such a conducive environment have the potential to grow exponentially given an optimum utilization of resources. And going solar is one of the ways to achieve this as it helps keep business expenses low, by helping you save up to 80% on your power expenses.

The growth prospect offered by the economy of Madhya Pradesh is just one of the reasons why businesses in the region should consider optimizing their power expenses. Today with the help of this blog, we will bring forth you 5 more strong reasons explaining why you should solarize your business in MP today.

1. Solar Potential of Madhya Pradesh

Located in the central part of India, Madhya Pradesh is a land of high solar radiation. With around 5.5 kWh/ sq.m/per day the state possesses the potential to meet the power requirement of every business/industry under the sun. A testimony to this is the state’s rising solar capacity which increased from 400 MW in 2012 to 5000 MW today. This potential of the state to generate solar energy can also be assessed with the state’s recently set new solar target of achieving 10,000 MW of solar capacity by the year 2022.

2. Solar Saving Potential of Businesses in Madhya Pradesh

Given the huge solar potential of the state, businesses in Madhya Pradesh are naturally bestowed with an opportunity to save big on their power expenses every year. Going solar makes businesses power independent. This reduces their consumption of electricity from the grid and other traditional sources of energy, thus saving lakhs in the process every year. An evidence to this is the various clients of MYSUN who are saving millions with solar not only in Madhya Pradesh but across India.

One of the ways to access the solar savings potential of your business is to run the MYSUN Solar Calculator. Designed with advanced algorithms and mapped with the solar radiation and electricity tariff of every pincode in India, the MYSUN Solar Calculator helps you pre-determine your savings from solar in a matter of just ten seconds. For example, as per the MYSUN Solar Calculator, a business unit in Indore with an average electricity bill of Rs 10 Lakhs can save approximately 43% on power bills every month under a commercial power category and 41% every month under industrial power category.

Estimated Savings from Solar for a Commercial Business Unit in Indore

Estimated Savings from Solar for an Industrial Business Unit in Indore

3. Solar Policy of Madhya Pradesh

Along with the immediate savings, that businesses in Madhya Pradesh can reap by generating their own electricity, the businesses in the state can also enhance this savings with the help of net-metering offered under the state’s solar policy. As per the policy, businesses can export the surplus energy generated by their solar system to the grid in exchange for compensation which increases the overall financial benefits. Not only this, but the solar policy of Madhya Pradesh also allows businesses in the state to avail an Accelerated Depreciation benefit of 40% on their solar system cost and a 10 year tax holiday on solar projects. There are provisions of solar loans too under a priority sector lending.

4. Businesses are already Saving a Fortune with Solar in Madhya Pradesh

Numerous businesses in Madhya Pradesh have already identified the benefits of solar and are reaping the benefits right at this moment. One such business is this leading insulation material manufacturing company in Pithampur which is saving approximately Rs 93 Lakhs on power bills every year after going solar with MYSUN. Just like the stated example, several of your competitors are already evaluating solar, which would give them a competitive edge. Make your decision to go solar today, to stay ahead in the race.

5. Easy Availability of Solar Financing Options

Given the high requirement of energy by businesses, going solar requires a sizeable investment. This might make solar appear an unfeasible option for numerous businesses but the fact is that with MYSUN’s Solar Financing Solutions buying solar is now easy for every business in Madhya Pradesh and across India. Businesses can easily avoid the upfront payment of the solar system and split it into easy instalments. With MYSUN Power Purchase agreement, businesses can even choose to go solar without paying the capital cost of the solar system.

We hope these five points might have helped you access the benefits of solarizing your business unit in Madhya Pradesh. Therefore take the first step now and start your solar journey today.

In a support to the domestic solar panel manufacturing industry, India may soon impose a Basic Customs Duty on imported solar modules and cells in the country. Reported in various media releases, the plans to levy a basic customs duty of 40% on solar modules and 25% on solar cells is underway as mentioned by power and renewable energy minister Mr Raj Kumar Singh.

The Backdrop of the Customs Duty

Over 80% of the solar modules used in solar projects in India are imported from countries like China and Malaysia. The imposition is therefore said to be a part of the Atmanirbhar Bharat or Self-Reliant India strategy which seeks to increase the dependence of the industry on domestically manufactured solar modules and cells. Currently, there is a safeguard duty of 15% which is levied on such imports. The basic customs duty once in effect will replace the safeguard duty. The duty is being said to be implemented from April of 2022.

MYSUN’s Take: How will the imposition of the duty impact you as a Power Consumer?

The Basic Customs Duty, even though being said to be implemented with the objective to build a sustainable solar manufacturing industry in the country, might not have a very favourable impact on the power consumers of the nation initially. The duty once in place will lead to a rise in price for both imported and the home manufactured solar modules which in turn will further increase the cost of solar systems for consumers across categories. Being still at an early stage of growth, the domestic module manufacturing industry might also struggle to keep up with the demands and quality, and thereby impact the progress of the ongoing solar projects negatively.

India is a growing economy which has the potential to meet the solar requirements of countries around the world. We hope any development or changes in the policies ahead leads to a harmonious growth of the industry and the consumers alike.

Madhya Pradesh is one of the fastest-growing states in India. With a GSDP of around ₹9.62 lakh crores, the state ranks 10th in the nation and is consistently growing at a rate of 12~14.2%. There has been a tremendous increase in the state’s commercial capabilities over the years where the number of registered MSME units alone has grown from over 19,000 in 2012~13 to over 87,000 today. Given such an increase in economic activity, access to affordable power is a significant requirement.

The below MYSUN Client, i.e a manufacturer of insulation material, based out of Pithampur in Madhya Pradesh has been able to achieve a savings of millions of Rupees by going solar. Having a massive power expenditure worth hundreds of lakhs of rupees every year, the business owners decided to go solar and become an independent power producer. With the help of a 897kWp Solar System, they are now saving approximately Rs 93 Lakhs on their power bills every year.

Can Your Business Unit in Madhya Pradesh Save Big with Solar too?

Similar to the above business, going solar can bring financial benefits for any business set up in Madhya Pradesh. Located in a geographically conducive environment, Madhya Pradesh, like many other states of India, receives ample sunlight throughout the year to fulfil the complete power requirement of your business.

Moreover, with a conducive solar policy of Madhya Pradesh which facilitates the functionality of net-metering, your business can not only reduce its power bills but also enhance its savings by selling the excess energy generated from its solar system to the local DISCOM. Not to mention the additional benefit of 40% Accelerated Depreciation which your business can avail by owning a solar system.

Check the Solar Potential of Your Business Unit in Madhya Pradesh

With the MYSUN Solar Calculator, estimating the solar potential is easy for any business across India. Designed with sophisticated algorithms considering the solar irradiance of every place in the country, the MYSUN Solar Calculator will help you pre-estimate the savings that your business will make on its monthly and yearly power bills after going solar.

For example, if your business is a commercial unit based out of Bhopal and consumes electricity worth an average of Rs 10 Lakhs a month, then going solar can help it reduce its electricity bill by almost 42%. That’s a savings of Rs 4.2 lakhs per month and a lifetime savings Rs 11.5 crores.

Similarly, if your business is a textile industrial unit based out of Indore in Madhya Pradesh with an average monthly electricity bill of Rs 25 lakhs, it can save almost Rs 10.3 lakhs every month, and Rs 27.8 crores in 25 yrs.

Solarize your Business today with Easy Financing Solutions today

With numerous solar financing options available from MYSUN, solarizing your business is more affordable than ever. Your business can either choose to pay the capital cost of the solar system upfront and thus get the best pricing or defer the cost in easy monthly instalments. Your business can also choose to go solar at the pay per unit model under a power purchase agreement. To know more about these options you can get in touch with MYSUN Solar Advisors by submitting your interest for solar financing here or read our blog on the topic - CAPEX vs MYSUN DPA vs PPA: How to Pick the Right Financing Model to Go Solar.

As evident in the above example of the MYSUN client in Pithampur, investing in solar has brought proven financial gains for the Manufacturing company. It has also brought in positive results for many other MYSUN clients across India. With the available financing options, favourable geographical conditions and solar policy of Madhya Pradesh, you have no reason to not solarize your business, be it is Bhopal, Indore, Ujjain, Gwalior, Jabalpur, Satna, Sagar or any other city of Madhya Pradesh.

Going solar has proven to be a profitable investment decision for large corporates, SMEs and MSMEs across the globe. In fact, every single MYSUN customer is saving a fortune on power bills every year. During the current turbulent economic times, these savings are coming in very handy.

However, when it comes to going solar, one of the biggest challenges businesses face is the Capital cost of Solar Systems. To most businesses, paying the cost upfront puts stress on their working capital, and that deters them from completing their solar journey. However, with plenty of Financing Models available, going solar is extremely affordable.

With the help of this blog, we will help you understand the three solar financing/buying options that your business can opt for when going solar. We will also help you identify the best option for your business taking into consideration your unique requirements.

CAPEX - Pay the Capital Cost of Solar Upfront

The term CAPEX means Capital Expenditure. Under this model of going solar, you will pay the capital cost of the solar system upfront. This gives you the best deal as your business avoids paying any interest and in the long run, turns out to be the most profitable. The Levelized cost of electricity and the total cost of the solar system is the lowest under this model of going solar. This also gives your business the highest Return on Investment. If your business has a strong cash flow and a substantial balance, then the CAPEX model of going solar is the right option to opt.

MYSUN DPA - Defer the Cost of Solar in Easy Instalments

MYSUN DPA or Deferred Payment Agreement will allow your business to defer the Capital Cost of the solar system over a period of time. This gives flexibility to your business and allows it to pay for the solar system in easy instalments over a period of 3-5 years. With a minimum payment of 25~30%, your business can reap all the benefits of owning a solar system like reduced electricity expenditures and accelerated depreciation. Since the cost of the solar system in DPA is split over a few years, the monthly instalments under DPA attract a minimum interest rate. However, at MYSUN these instalments are designed to be less than or equal to the monthly savings on power bills that your business will make with solar. Therefore, in a way, your solar system will pay for itself. MYSUN DPA is a great option for your business if it is looking to go solar with a controlled cash outflow.

PPA(Power Purchase Agreement) - Pay Nothing for the Solar System

The PPA model of buying solar allows your business to go solar without buying the solar system. In this model, the solar system which is installed on the rooftop or the campus of your business is owned and managed by your solar installer or a third party company. Your business here is required to sign a Power Purchase Agreement(PPA) to buy the solar energy generated by the installed solar system at an agreed tariff. The benefit with this model is that the solar tariff for your business is fixed for a period of 15~25 years depending on the contract and your business is relieved from paying the capital cost and maintenance of the solar system. The Levelized cost of solar electricity, in this case, is however slightly more than CAPEX and DPA.

Identify your Best Solar Financing / Buying Option with MYSUN Solar Calculator

The MYSUN Solar Calculator, one of the most innovative and pioneering solar investment calculation tools, has helped millions of business owners in India evaluate their best solar buying/ financing option. All you need to do is submit your location, consumer category and average electricity bill amount.

For example, for an industrial setup in Jaipur, Rajasthan with Average monthly electricity bill of Rs 10 Lakhs, the 25 years Cash Outflow is highest in case of Grid Electricity, followed by PPA, DPA and CAPEX. This makes CAPEX the best deal with the highest savings for the industry.

Similarly, the Levelized cost of electricity for the industry will be lowest in case it went solar under CAPEX, followed by DPA, PPA and then the Grid electricity.

The total savings that the business will be generating after going solar under CAPEX will be Rs 18.3 Crores at an ROI of Rs 35.6%.

Run the MYSUN Solar Calculator now.

Go Solar with your Best Solar Financing/ Buying Model today

With multiple solar financing and buying options available with MYSUN there is no reason for your business to not optimize its expenses. By reducing millions in power expenses your business will not only save big today but also open a source of accumulating capital for important business investments. Solarize your business today. Speak to MYSUN Solar Advisors on +91 8448380218 or write to them at [email protected] to get a free personalized solar buying assistance.

Buying a solar system is one of the most rewarding investment decision for a business across the country. Whether you are a large corporation or a small to medium-size enterprise, going solar saves Lakhs of Rupees on power bills every month, thus optimizing a business’s operating expenses. However, when it comes to going solar, there are still apprehensions which give way to excuses and thus delaying the decision. Here are the answers to some of the top reasons that some of our clients had before they got in touch with us and decided to Go Solar. Today, all of them are proud of their decision and are making their business financially stronger with each passing day.

1.‘Going Solar can’t Possibly Save Lakhs on Power Bills Every year’

One of the major suspicions that business leaders have is the savings potential that going solar offers on their monthly power bills. The amount might seem unrealistic, but it is indeed true - going solar does save lakhs on power bills every year. With a well-optimized solar system, the savings can be up to 80% of the monthly electricity bills. MYSUN clients are a testament to this. Here is a video of a MYSUN client who is saving 190 Lakh rupees on power bills every year.

To know the estimated savings potential of your business you can run the MYSUN Solar Calculator now.

2.‘Solar Systems are too Costly. And our Business doesn't have any Surplus Budget right now.’

Solar systems do require a sizable investment. But with the various solar financing solutions now available with MYSUN, going solar is surprisingly affordable for businesses of any size. Your business can either choose to pay for the capital cost of the solar system upfront or defer the cost in easy instalments with MYSUN DPA (Deferred Payment Agreement Plan). Since the instalments under MYSUN DPA are always less than or equal to the savings your business will make after going solar, your business in a way pays for the system by paying nothing more than its current monthly electricity bill amount. And after the system cost breaks even in 4~5 years, the electricity generated by the system is available to your business virtually for free.

If not MYSUN DPA, your business can also avail a solar loan from numerous MYSUN Partner Banks/NBFCs. With MYSUN’s Power Purchase Agreement facility, your business can even opt to go solar without actually buying the solar system. You can know more about these financing solutions by submitting a request on MYSUN’s solar financing solutions page.

3.‘Going solar will need a lot of planning and evaluation. We don't have the bandwidth to go solar now.’

Transforming your business into a solar-powered organization might seem like a lot of work. With MYSUN all you need to do is express your interest in solarizing your organization and our team of solar experts and advisors will take care of the rest. From assessing the solar potential of your business through a series of highly advanced tests to identifying the feasibility of solar installation as per the unique architecture of your business unit. From designing the most optimum solar system as per your business’s power requirements to installing and maintaining the solar system for the complete 25 years of your business’s solar journey; Our team of solar experts ensures you have a wonderful solar journey. With our innovative solar financing solutions we make your solar journey affordable and thus offer you personalised solar solutions.

4.‘Business is tough and therefore going solar is not our priority right now.’

The economic challenge that the pandemic has brought upon us is no secret. It has affected every business under the sun. However, as the market is gradually opening up there lies immense opportunity ahead of us. And if coming out of this as a winner and increasing profits exponentially is your business's priority then Going Solar is your business's priority. The savings that your business will make after going solar will help it reduce its operational expenditure and increase its profit margins. This will be worth its weight in gold in these challenging times. Many of our clients have been able to navigate through these difficult times by saving handsomely on their operational expenses thanks to solar.

5.‘There are too many solar installers. It is too confusing to decide.’

Solar systems have a life of over 25 years. Therefore it is incredibly important to choose the right solar partner who can offer your business a quality service for 25 years. Committed to a ‘quality-first’ approach, MYSUN offers premium components and robust service and maintenance solutions to keep your solar system’s performance optimum during its lifetime. Being driven by technology, MYSUN also offers advanced technology solutions such as remote monitoring and robotic cleaning, delivering the latest innovations to your rooftop. Above this, we ensure a complete peace of mind and transparency to our customers, which is why Lakhs of rooftops across India have chosen MYSUN as their solarization partner.

We hope this article will help you make your decision to go solar concrete. If you have any query still, our solar advisors would be glad to personally consult you on the same at no cost. Please reach out to us on: +91 8448380218 or write to us on [email protected]