Image Source: Bloomberg

Have you ever wondered a future where the source of power to all your electronic gadgets will be the glasses of the building that you reside in? Yes, while this sounds too futuristic to imagine, the world is already headed towards that direction. It may soon become the reality of our modern life and infrastructure.

The Innovative Transparent Solar Cell

The work on the development of transparent solar cell technology has been underway for quite a few years now. And as per the latest developments, a team of researchers from the University of Michigan has achieved a new record with relation to the efficiency of the colour neutral transparent solar cells. As per the recent media reports, the team has achieved 8.1% efficiency and 43.3% transparency with an organic or carbon-based design rather than conventional silicon. The university had created the first fully transparent solar concentrator in 2014.

How will this Transparent Solar Technology work?

The way this transparent solar cell technology works is that when they are placed between the panes of double-glazed windows, they generate energy from the solar rays which pass through them. Similarly, when placed in glass facades, these solar cells can help the buildings generate their own electricity.

Since the buildings with glass facades typically have a coating on them to reflect most of the light from the sun in order to reduce the brightness and heating inside the building, the transparent solar cells can use this unwanted heat and light to generate electricity and fulfill the power needs of the buildings.

One of the major challenges that the technology puts forward is maximizing the cell’s energy efficiency without compromising its transparency. But with time even this is being overcome with roughly 2-3% efficiency in the past to the record-breaking 8.1% efficiency today.

What are the Possible Applications of this technology?

The possible application of this technology can go beyond imagination. From the rooftops and windows of cars to the body of cell-phones, from skyscrapers to wristwatches and calculators, the technology when available in the market can be applied to numerous products we use in our day to day life.

MYSUN’s Take

We at MYSUN believe that solar energy is inevitably going to become the primary source of power for the entirety of human civilization. And it is innovations like these which reaffirm our belief. The transparent solar cell technology will not only make going solar aesthetically stand out but will solve a major challenge of availability of space which is mandatory in order to install solar panels today. We are hopeful of the further development of the technology and are sure more businesses and homeowners will adopt solar in the near future.

Gujarat, one of the leading solar energy-rich states of India, recently released its new industrial policy. In the policy, the state has announced some major incentives for MSMEs looking to solar.

Having one of the most favourable solar policies in the country, Gujarat has already been ahead of most states when it comes to its installed solar capacity. Now with the introduction of these incentives, the state aims to increase its solar capacity further by making investing in solar more lucrative to the commercial and industrial power consumers. If you are a business leader of a Micro, Small and Medium Enterprise in Gujarat, then here are the benefits that you can avail under the state’s new industrial policy by going solar:

1. Increased compensation for the surplus solar power generated by solar systems owned by MSMEs

One of the things which makes going solar rewarding is the facility of net-metering. Net-metering allows solar system owners with grid-connected solar systems to transfer the excess power generated by their solar system to the grid. In return, the system owners avail compensation which increases their overall savings on power bills. As per the new policy, this compensation has been increased from INR 1.75/kWh to INR 2.25/kWh for MSMEs in Gujarat.

2. Interest Subsidy on Solar term loans

Installing a solar system requires a sizable investment. This makes it difficult for MSMEs, especially the ones with stretched balance sheets, to pay the cost of solar upfront. In such a scenario solar loans and financing options make the investment affordable. With this new industrial policy, Gujarat has made investing in solar more affordable for existing industries by promising interest subsidy on term loans for solar.

3. 35% Incentive on the Cost of Solar

In order to further motivate the MSMEs to switch to cleaner production technologies, the new industrial policy seeks to offer incentives on the cost of such technologies. Solar being one such technology will make MSMEs eligible to avail these incentives for going solar, which is 35% of the cost of solar. For large units, the incentive offered will be at 10% of the cost.

4. Assistance for turning polluting industries into green industrial estates

As per the new policy, the government of Gujarat will assist in setting up, relocating or retrofitting existing polluting industrial units into green industrial estates. The assistance will be up to 25% of the project cost up to 250 million rupees. This will be a big support to MSMEs and industries looking to go solar and transform into ecologically sustainable units.

MYSUN’s Take

This new industrial policy of Gujarat portrays the positive outlook of the policymakers towards the need of transforming industries into eco-friendly businesses. The financial support and incentives announced will help MSME’s go solar who otherwise would not be able to due to highly engaged working capital. The increase in solar tariff is a great move which will increase the financial benefits from solar for businesses. With such supportive measures in place, there is no reason to not go solar and avail the incredible benefits that come with it.

The Director-General of Trade and Remedies (DGTR) has recommended extending the prevalent Safeguard duty on imported Solar cells for an additional one more year. The extension has been recommended with a revision in tariff at 14.90% for the first six months and then 14.50% for the subsequent six months. As in effect currently, the duty is charged at 15% for solar panels imported from China and Malaysia.

Background of the Safeguard Duty

On 30th July 2018, a 25% safeguard duty was imposed on all the solar cells and modules imported from China and Malaysia. The duty as per the schedule was revised at 15% for the year 2019~20. The imposition of the duty was backed with a need to protect the domestic industry as over 80% of the solar modules used in India were imported from these countries. The duty is slated to expire on 31st July 2020.

The Reason of Extension of the Duty

In a review conducted by the DGTR in March 2020, it was stated that while the duty has improved the position of the domestic industry in the last two years, there is still need for some support. And a one-year extension will be adequate for the same. The review was done following an application submitted by the Indian Solar Manufacturers Association (ISMA) seeking to extend by another four years.

Impact of the Duty on the Consumers and MYSUN’s take on it

The safeguard duty has always seemed to draw conflicting opinions. While it is implemented with the vision to sustain domestic players, it increases the cost of solar systems. This reduces the benefits to the end consumers. We hope that this extension in duty will bring good in the long run.

Chandigarh has over 2900 small, large and medium scale units and is increasingly becoming a lucrative destination of many business leaders. One factor leading the city towards such transformation is the city’s inclination towards more economical sources of energy i.e the renewable sources of energy. Almost 67% of all the power requirements of Chandigarh is met via these sources, and this share is going to increase further as the city has recently decided to increase its Solar energy generation target to 100 MW, achievable by 2022.

As per media reports, the target was self-revised by the state from the earlier target of 50MW, after the Ministry of New and Renewable Energy(MNRE) enhanced the city’s solar target from 50 MW to 69 MW.

This new development is a signal towards the great opportunity that solar energy holds in store for businesses in the city. While we have already explained previously how corporates and SMEs can save Millions by going Solar in Chandigarh and how the MYSUN Solar Calculator is helping businesses in Chandigarh determine their solar savings potential let’s see what does this new development exactly mean for businesses in the city.

What does this mean for Businesses, Industries and Corporations based out of Chandigarh?

The increase in the solar target of the city is an indication of the solar potential of the city and a move towards sustainability.

Chandigarh is a commercial hub which has housed businesses, industries and corporations of every size. Power, as it is across every city and state in the country, forms an indispensable resource for businesses in the city. This makes businesses, whether small or large, incur lakhs on power bills every year, which businesses in Chandigarh can avoid easily by going solar. Just like this label printing company situated in the city of Gurgaon, which is looking at saving 7~15 crore rupees in 25 years time because of its decision to go solar.

Check your Solar Savings Potential in Chandigarh today

One of the first steps of going solar is to check your solar savings potential. And MYSUN, the largest online rooftop solar platform in India, makes the identification of it easy with its advanced Solar Calculator. The AI-backed technology-driven calculator allows you to check your savings from solar, the optimum solar system size, the required investment, the return on investment and available financing options in a matter of seconds. To give the most precise results, the calculator is mapped to the solar irradiation and tariff of every city and state in India, including Chandigarh.

For example, as per the solar calculator, the Solar Savings Potential of a commercial set up in IT Park Road, Phase - I, Manimajra, Chandigarh with an average monthly electricity bill of 2 lakh rupees is immense as it will bring the bill down to only INR 79, 724 every month. This gives a lifetime savings of INR 4.2Cr, which is very significant on an investment of just INR 35.7 Lakhs.

Grab the opportunity and Go solar with MYSUN’s Easy Solar Financing Solutions today

With this increased target, going solar will be the need of the hour for Chandigarh. With MYSUN’s various solar financing solutions businesses have the flexibility to go solar with easy payment plans. Businesses can either choose to pay for the solar system upfront, in easy EMI’s or even as per unit consumption of their solar energy as applicable under the Power Purchase Agreement.

Businesses all around the world have started making solar energy as their primary source of power. And Chandigarh, a centre of numerous small and large scale businesses, is following the footsteps. The city which is on the mission of becoming a smart city in India will for sure become solar-driven one day and businesses will flourish because of it. Therefore, start the solar journey of your business in Chandigarh today & reap the benefits of being an early adopter i.e higher financial benefits. Call MYSUN Solar Advisors on +91 8448380218 or write to them at [email protected].

No industry has been left unimpacted by the ongoing crisis. Smart businesses, therefore, are turning towards opportunities that are risk-free and in the long term will help the business grow and expand without becoming a liability. Going solar, therefore, is on the priority list of several smart business leaders as it is one such investment that saves businesses Lakhs of Rupees on power bills over the period of 25 years.

If you are also considering going solar, and are reading to know more about it, here are the 7 unbelievable benefits of solar power for businesses which will help you make your mind up and go solar:

1. You don’t just contribute to the environment but Save Lakhs of Rupees every year by going solar

Going solar might seem like an environmental decision but the reality is that for businesses, it is also a strategic business decision. Going solar makes businesses power-independent and they generate their own electricity. This reduces their dependence on the grid and saves them a fortune. For example, the below client of MYSUN, which is a Yarn and Fabric manufacturing industry based out of Bhilwara in Rajasthan, is looking at saving a whopping Rs 5,850 Lakhs on power bills over the 25 years of its solar journey.

Saving this big amount naturally gives businesses a competitive edge in the market along with resources to increase their growth and profitability. To know how much your business can save with solar energy you can run MYSUN’s AI-backed technology-driven Solar Calculator.

2. You can use solar power at night as well. Thanks to hybrid systems.

The advancement in technology has made it possible to use solar power at night too. With the help of hybrid solar systems, you can store the power generated by your solar system during the daytime and use them at night. This is made possible as hybrid solar systems are both connected to the grid and have battery banks attached to them.

3. Solar Systems need minimal maintenance

One of the key reasons why adopting solar energy is economically viable for businesses is that solar systems require negligible maintenance. With MYSUN’s pool of easy service packages maintaining the largest of solar systems is also affordable. To know more about these packages you can get in touch with our service experts on 1800 3012 0101.

4. You don’t have to pay everything upfront

Going solar has never been easier before. With flexible solar financing solutions from MYSUN, you can now solarize your business in easy EMIs. Under the MYSUN Deferred payment solution, your business can pay just 20~30% of the solar system cost and the rest can be deferred over a period of 3~5 years. The best thing is that these instalments are always less than or equal to the savings that your business will make on its monthly electricity bills. So in a way, your solar system will pay for itself. To add to the variety, MYSUN also makes solar loans available to its customers through Partner Banks/NBFCs.

5. You can avail tax benefits by going solar

Going solar also gives businesses an opportunity to avail of tax benefits. These benefits may vary from state to state depending on the Solar Policy of the state your business is based at. For example, as per the solar policy of Rajasthan, any business going solar in the state can avail of a 10 year tax holiday on the solar project.

Not to forget, since solar systems are an asset to a company, this also allows businesses to avail Accelerated Depreciation benefits.

6. You can go solar without incurring the capital cost of the solar system

In order to solarize your business, you don’t necessarily need to incur the capital cost of the solar system. Under the PPA(Purchase Power Agreement) model of going solar, you can go solar in a way that a third party can bear the cost of the solar system and your business can pay for the per unit of the solar energy that it would consume.

7. Your business is immune from power tariff rises

If you solarize your business under the PPA model, you in a way immune your business from future hikes in electricity tariffs. This is because the PPA agreements last for 15~25 years. So your business pays a fixed earlier agreed tariff for the next 15~25 years of your solar journey.

In case you don’t solarize your business under the PPA model and choose to go solar under the CAPEX model(which requires you to pay the capital cost of the solar system upfront) because of the benefits which come with it, like accelerated depreciation, low Levelized cost of electricity and tax benefits, you would still reduce the impact of any future electricity tariff hikes.

Businesses across India are expediting their success stories by going solar. We are sure these 7 things must have got you thinking about when should you start Start your solar journey? Start today by calling MYSUN Solar Advisors on +91 8448380218 or writing us at [email protected].

Source - www.deshgujarat.com

Gujarat, located in the western coast of the Indian Peninsula, is one of the fastest-growing states in the country. The state has managed to become the third-largest contributor to India’s nominal GDP, which is ₹18.85 lakh crore, comparable to that of the entire country of Vietnam.

With high production capacity, the state is a leader in industrial sectors such as chemicals, petrochemicals, dairy, pharmaceuticals, cement, gems, textiles and engineering, and therefore, home to over 800 large industries and 450,000+ micro, small and medium enterprises. This leadership position and the competitive environment arising out of such a large number of enterprises make power a crucial resource for the lifeline of every business in the state. For this, businesses pay lakhs, and in cases of large corporations, even crores on power bills every year.

Thankfully businesses in Gujarat are well aware of the benefits of solar. The testament to that is the ever-increasing solar capacity of Gujarat, bringing a more economic alternative to the businesses in the state, from which they can save millions on yearly power bills. Take an example of this Yarn and Fabric Company in adjoining state of Rajasthan which is saving around 190 Laks on power bills every year after going solar with MYSUN. Let’s check some more reasons why businesses should invest in solar in Gujarat.

1. High Solar Energy Potential of Gujarat

Gujarat is one of the most solar energy-rich states in India. The geographical location of the state exposes it to almost 300 sunny days in a year, with solar radiation of 5.6 -6.0 kwh/m­­­­­­­­­­­­2 / day; one of the highest in the country. As per an estimate by the Energy and Resources Institute, the state has a solar potential of 35.77 GWp. All of this points towards the immense solar power capacity that businesses in the state can tap into.

2. Increasing Solar Energy Installed Capacity of Gujarat

Gujarat has been soaring high when it comes to the total installed solar capacity. As of mid of 2019, the state ranked 6th among the top 10 states with the highest installed solar capacity in India. The state has consistently increased its cumulative rooftop solar capacity from around 0.3 MW in 2010 to around 368 MW in 2019. Similarly, in utility-scale, the state has increased its capacity from almost zero MW in 2010 to approximately 2000 MW in 2019. This growth in capacity is a sign of the growing demand for solar from the power consumers in the state, which in turn, justifies the benefits they are getting from it.

Cumulative Rooftop Solar Installed Capacity of Gujarat

Cumulative Utility-Scale Solar Installed Capacity of Gujarat

3. Conducive Commercial and Industrial Solar Policy of Gujarat

A conducive solar policy plays a crucial role in positively influencing the benefits businesses can reap by investing in solar. And Gujarat for sure has such a solar policy in place. With the net-metering facility applicable under the state’s solar policy, the commercial and industrial companies in the state can export the surplus energy generated by their solar system into the grid at a specified solar tariff. The policy also allows businesses in the state to avail Accelerated Depreciation benefits of 40% and 10 year tax holiday on solar projects. All of this increases the savings and the benefits that businesses can get with solar in the state.

To make solar affordable, the solar policy of Gujarat also makes loans available for businesses for up to Rs.15 Crore under Priority sector lending.

4. The Incredible Solar Saving Potential of  Businesses in Gujarat

Given the favourable geographical location and solar policy of Gujarat, with the right solar engineering, any business or organization can save a fortune in the state. For example, as per a media report, the Badrinarayan temple located in Surat brought its electricity bills down from Rs 1.5-2 Lakh per month to Rs 10-12,000 per month. That's a saving of approximately 93~94%! For businesses, such big savings will give them more funds at disposal which could be deployed in more important activities.

You can know the estimated solar saving potential of your business by running the MYSUN Solar Calculator. For example, if you are an industrial set up based out in Naroda, Ahmedabad and incur an average monthly electricity bill of Rs 10 lakhs,  you can save approximately 56% on your power bills every month.

5. Friendly Economic Environment of Gujarat

As mentioned above, Gujarat is one of the leading industrialised states in India. The state has earned recognitions such as the world’s largest producer of processed diamonds and the petroleum capital of India. The state is also known as the largest manufacturer of denim in India and the third-largest in the world. Home to thousands of SMEs and MSMEs across every industry, the state also has over 20 operational special economic zones. This signifies the demand of power by businesses in the state. And solar being more economic than grid makes a logical decision to follow.

Make it easy with MYSUN

These are just the five reasons why solar is a prudent investment for businesses in Gujarat. Choose to solarize your company today with MYSUN, be it in Ahmedabad, Surat, Vadodara, Kheda, Anand, Gandhinagar, Rajkot, Jamnagar or any other city of Gujarat and make the transition easy with sophisticated engineering and flexible solar financing options. Call our solar advisors today on +91 8448380218.

Source of data for the graphs: Bridge to India

Solar energy has been helping businesses across the world save very substantially, at the same time contribute to the well being of the environment. Add to it the advantage of being an independent power producer and tax benefits that come in India, going solar is no longer a question of if, but when. You will find numerous examples online corroborating this fact, and there are live examples of MYSUN clients who have gone solar and genuinely propelled their business forwards.

Below is a case-study of a plastics manufacturing business in Ghaziabad, which is saving about 7 Lakh Rupees on power bills every year after switching to solar:

Just like the aforementioned business, every business in Ghaziabad can save a fortune with solar, be it from manufacturing, processing, agriculture or service segment. But how much could the potential savings be? To answer this, we turn to the magical MYSUN Solar Calculator.

The Solar Savings Potential of Businesses in Ghaziabad as per the MYSUN Solar Calculator

The MYSUN Solar Calculator is an advanced online tool that calculates the savings potential of a home, business and even an industry. This is a fantastic way for businesses to forecast their savings from solar in less than 10 seconds, and plan their journey accordingly.

All you need to do is input the average electricity bill amount, location and consumer category i.e commercial or industrial.

For example, if you are a commercial enterprise based out in Ghaziabad and pay an average monthly electricity bill of 5 Lakhs every month, by running the solar calculator you will see that your business can save approximately 50% of this bill amount if it adopts solar energy. And if you are an industrial set up in Ghaziabad which pays the same average electricity bill every month, you could be saving almost 58% by going solar.

As you can see from the above screenshots, the output report also provides businesses with a comprehensive report which tells businesses the Optimum Solar System Size that they should consider while going solar and the savings they will reap. You get additional information like the shadow-free area that would be required, the investment that businesses will have to make to go solar with their optimum solar system size, the Return on Investment and the impact they will be making to the environment.

Other Savings Benefits that Businesses in Ghaziabad can Achieve with Solar

The savings that businesses reap by going solar aren’t only in the form of savings on electricity bills. Solar systems are an asset to businesses and this allows them to avail various tax benefits as per the solar policy of their state. In the context of Ghaziabad, the solar policy of Uttar Pradesh allows businesses in the city to avail Accelerated Tax Depreciation benefits on their solar system investment and a ten year tax holiday on solar projects. This increases the saving benefits from solar for businesses in the city overall.

How to Solarize your businesses with Easy Payment Plans with MYSUN in Ghaziabad?

Even though these saving benefits from solar make solar a lucrative opportunity for businesses in Ghaziabad, given the fact that the majority of businesses in the city belong to the SME and MSME segment, the sizable upfront investment amount of solar systems may pose a challenge for a large number of businesses in the city. To help deal with this issue, the solar policy of Uttar Pradesh allows businesses to avail loans for up to Rs 15 crores for renewable energy projects under Priority sector lending. To make the journey even easier, MYSUN, a company with a strong presence in Ghaziabad, offers its clients an option to Defer the Cost of Solar in easy EMIs through the MYSUN Solar Financing.

Solar is gradually becoming a strategic business decision for every succeeding business in the country. Therefore, choose solar for your business today and stay ahead of your competition in the game.

You can get in touch with MYSUN Solar Advisors for any queries related to solar by calling on +91 8448380218 or writing to us at [email protected].

While the world battles unprecedented circumstances, two Ghanaians have come up with a wonderful innovation that has solar power at the heart of it. This innovation makes it to our list of ‘Interesting Ways the World is Using Solar’ this week.

In this blog series, we talk about the interesting ways the world is using solar. We have covered innovations like solar-powered boats, cars, space stations and even airships in the past. Let’s dive in and read more about this interesting wash-basin.

The Innovation and the Innovator of Solar Powered Hand Wash Basins

Richard Kwarteng Aning, a 32-year-old leather shoemaker in Kumasi city of Ghana, has developed a solar-powered hand wash basin along with his brother Jude Osei. The brothers have developed the hand wash basin to promote the 20-second hand wash hygiene; the best-known practice to fight coronavirus until a vaccine is developed, as issued by the health and disease control department of governments and organizations all around the world.

How does this Hand Wash Basin Work and How was it Built?

The Solar Powered Hand Washbasin, is timed with a sensor. As soon as someone places their hands under the tap of the basin, the connected sensors send a signal to ooze the liquid soap out from the tap. Post that a timed alarm goes on for 25 seconds signalling the user to lather their hands for the set time period. After this, the water flows from the tap to rinse the soaped hands and the alarm goes off, indicating that the hand wash is complete.

As per media reports the idea to build the hand wash basin was conceived by Richard Kwarteng Aning when the government of Ghana announced a two-week lockdown on March 30, 2020. With just 48 hours in hand before the lockdown would begin, Richard immediately acted on the idea, procured the materials and developed it by using some of the most common components available easily in the local market of any city i.e. a sink, a tap, a motherboard, a solar panel, an alarm and a recycled barrel. He then installed the basin with the help of an electrician friend and programmed it with his brother to run when hands or any other item came in contact with its sensors.

MYSUN’s Take on this Innovation

At MYSUN, we really applaud the efforts of building the product. As we pass through these extraordinary times, we will need innovations which are not just out of the box but also use our resources optimally. The wash-basin is an example of the inspiration that human effort is capable of fostering if directed in the right direction. We are sure as time passes by, the model will be refined, and who is to say, this will not become the new norm!

Solar energy is one of the most rewarding investment decisions for any business, as it helps them to save a fortune on power bills every month. This, in turn helps reduce operational expenses and improve the bottom line, thereby increasing profits and growth opportunities for the business overall. MYSUN clients who have gone solar in the past are examples and propagators of the various benefits of solar such as: power independence, tax savings in the form of Accelerated Depreciation and eco-friendliness.

We at MYSUN receive a ton of solar power questions from existing and prospective clients. With this blog, we hope to give answers to some of the most commonly asked solar energy questions by industrial leaders. So that if you are planning to go solar, you can make an informed decision and get started on your solar journey.

1. How much can your business save with solar?

Installing a solar system can help a business save up to 80% on power bills every month. That being said, the savings potential varies depending on various factors like power consumption, power tariffs, solar policies, solar irradiance, industry type, solar system type (on-grid, off-grid or hybrid) and solar system size of the business. You can know the estimated monthly, yearly and lifetime solar saving potential of your business by running the free MYSUN Solar Calculator.

2. What is the optimum solar system size for your business?

The Optimum Solar System Size is the one which is capable of fulfilling your power requirements. And it depends on factors such as your power consumption, your sanctioned load, and the solar irradiance of your region which depends on your total shadow-free area, location etc. Usually, the optimum solar system size is equal to your sanctioned load, but it can be less if you have low power requirements or high solar irradiance. Your Optimum Solar System Size also depends on the type of solar system that you are considering for your business.

The thing to note here is that while your optimum system size can be higher or lower than the sanctioned load, the actual size of a solar system that you can install has to be in accordance with the guidelines of your state’s solar policy. With our World Class in-house Engineering team, we ensure that the proposed system size to all our customers is optimum and best suited to their economic needs.

3. How much will it cost to solarize your business?

The cost of Solarizing your business is influenced by the type and size of the solar system that you choose for your business. However, the cost of your solar system is almost a fraction when compared to how much your business will be saving on power bills with solar. For example, an industry based out of Mumbai with a monthly electricity bill of INR 10 Lakh per month, will need to pay approximately just 1.5 Crore for a solar system, in contrast to the massive lifetime savings that the industry will make with solar i.e INR 21.4 Crores.

4. What will be the break-even period of your Solar Investment? 

The break-even period of your solar investment will depend on factors such as the cost of your solar system, the energy generated from the solar system, the energy being consumed, the type of solar system, the solar tariffs in your state, and other factors. But on average, it can be said that the payback period for a solar system is around 3~5 years. For example, as per the MYSUN Solar Calculator, a commercial unit in Punjab with an average monthly electricity bill of INR 10 lacs will achieve its solar break-even in around 2.5 years; with an estimated ROI of 62.2%.

5. Can your business pay for a solar system in monthly instalments?

Yes, your business can pay for solar in monthly instalments. With a pool of solar financing and loan solutions from MYSUN, businesses around the country have made their solar journey easy and affordable. With pioneering solutions such as the MYSUN Deferred Payment Agreement, your business will have to pay just 20~30% of the overall cost as down payment while your solar system pays for the rest.

6. Can your business run on solar energy without incurring any capital cost?

Yes, your business can use solar energy without actually paying for the installation of a solar system. There are two ways of going solar - CAPEX and OPEX. In CAPEX, your business installs and owns the solar system from which it consumes the solar energy. In this model, your business is responsible for the operation and maintenance cost of the solar system. In the OPEX model of buying solar, the solar system from which your business consumes electricity is installed and owned by an investor or a third party company. In this case, your business only pays for the units of energy that it consumes as per a Power Purchase Agreement.

7. Should your business go for CAPEX or OPEX model when buying Solar?

Buying solar under the CAPEX model might seem cost heavy at the beginning but it turns out to be more cost-effective in the longer run. The LCOE (Levelized Cost of Electricity, which is the cost/unit of electricity over 25 yr horizon) for solar under CAPEX is significantly lower than that under OPEX. There is also an added benefit of Accelerated Depreciation which comes with the ownership of the solar assets under CAPEX. The only challenge it presents - is the capital cost of going solar which can be easily deferred with solar financing from MYSUN.

Even if this difference in the cost of solar in CAPEX and OPEX is not taken into consideration, the fact that buying solar under OPEX requires signing up for a PPA (Power Purchase Agreement), OPEX becomes a challenge for a large number of businesses. This is because entering into a PPA requires a strong credit rating by many investors, and given that the majority of businesses in India belong to the SME/ MSME segment with poor credit ratings, stretched balance sheets and overdrawn working capital limits; OPEX seems practically not possible for many businesses in India.

8. How do you choose the best Solar Installer for your business?

Going solar is a long term commitment and therefore choosing the right solar partner is critical for any entity. And this starts with knowing the capabilities, track record, reputation, presence and offerings of the solar installer. You can learn more in detail about how to pick the right solar partner here.

9. Should your business opt for solar O&M?

Solar systems, just like any other technology, need regular operation and maintenance to deliver high-quality performance. An operation and maintenance package makes sure that your solar system is in the hands of experts. Moreover, with the latest technologies of O&M like remote monitoring, the impeccable performance of your solar system becomes more certain. Therefore, an O&M package adds value to your solar journey.

10. What will your business lose by delaying the decision of going solar?

A lot! Just like time and tides wait for none, the opportunity to save waits for no one either. Think of it this way - if your business has the potential to save INR 5 Lakh a month on power bills and you delay the decision to go solar by 3 years, that's a loss of INR 180 Lakh right there. This money if saved could have helped increase profits, giving you more funds to expand your business and also would have increased your business's overall financial stability.

Conclusion

Solar is becoming a strategic business decision of top businesses around the globe. Therefore, whether to go solar or not should not be your question, but how to go solar and with whom? We hope these questions on solar system with answers have given you clarity on how to start your solar journey. For further information, do get in touch with MYSUN Solar Advisors on +91 8448380218 or [email protected] and we would be glad to help your business too, save Millions.

Through our series of Interesting Ways the World is using Solar, we bring you the most cutting edge application of solar in modern times. We have previously written about how technological advancements have been made in the form of solar cars, solar-powered roads, solar space-stations and even solar-powered clothes.

Which brings us to another interesting use of solar, and this week we are going to introduce you to - Solar Panel Roofed Bike Lanes.

32 km Bike Lane Shaded with Solar Panels in South Korea

There is a solar bike lane which runs 20 miles, approximately 32 kilometres, from the city of Daejeon to the city of Sejong. Running right through a regular highway between the cities, the bike lane, which is also accompanied with three lanes of traffic on either side, has been roofed with solar panels throughout the highway.

What makes the installation of these solar panels on the bike lane truly remarkable is the multifaceted benefits that it provides to the drivers on the highway. While the panels provide shade from the sun and protection from the rain to the cyclists on their 20 miles long two-way ride, the panels also generate enough electricity needed to power the lights along the highway and charging stations for electric vehicles moving on the road.

Here’s a glimpse of the bike lane and its long stretch

This bike lane in South Korea is not a singular example showcasing the innovative use of solar technology on roads. Solar roads in China and solar bike paths in the Netherlands are few other examples that have portrayed similar successful applications of solar on roadways; the energy from which is already being used to power billboards, surveillance cameras, tolls, street lights, local households and etc along the road.

MYSUN’s take

The solar panel covered bike lane is a truly wonderful use of solar technology which is a great example of the importance of a sustainable, comfortable and healthy living. It reinstates not only the need but also the auxiliary benefits that solar energy can provide to the entire human civilization which traditional energy sources cannot, i.e. monetary benefits along with ecological stability. Not to forget that the application of solar using superstructures, like in this case, ensures that the area below the structure can continue to be used. We encourage all our readers to make solar a part of their daily life and enjoy its various benefits.