Solar energy is increasingly becoming an affordable and reliable source of power for home, office and industry owners across the country. The march to solar is chiefly attributed to the well-documented benefits of solar over the conventional sources of power, which with a right solar partner and solar company are truly realizable. Some of these benefits of solar are as below:

1. Increased savings by up to 80% on your monthly electricity bills - as going solar reduces your consumption of electricity from the grid by generating your own power from the sun.
2. Accelerated Depreciation for businesses - as solar systems are an asset for businesses, and so the principles of Accelerated Depreciation apply.
3. An invaluable contribution towards the environment - as solar systems lead to zero emissions, unlike the traditional thermal power plants.

For how long can you avail of these benefits from Solar?

A well designed, engineered and installed solar system with quality components can supply power for 25 years. This means, while you recover the cost of a solar system within the first 5 to 7 years, you enjoy power, virtually at no cost for the next 20 years. You are also immune to the rising power tariffs given that you will be fixing the power purchase price when you go solar for the next 25 years. While going solar is no longer the debate, you must choose the right Solar Partner/ Solar Company to ensure not only do you get to enjoy these benefits for the long term but also your solar journey is convenient and comfortable.

Why MYSUN is the right solar company for you? The 6 Advantages of going solar with us

At MYSUN, we have a strong customer-centric culture. We understand and appreciate the decision to go solar of each of our clients alike. Each project for us is an opportunity to implement the benefits of solar to a new rooftop and we take it up with the same zeal and enthusiasm. This inspires us to not just offer all the services related to your system including Financing under one umbrella but also help you make informed purchase decisions in a way that you would enjoy the maximum benefits of solar.

1. Advanced Site Assessment to maximize your Solar Potential

We recognize that each rooftop is unique and there is no glove solution that fits all requirements. Therefore, our highly skilled engineers with hundreds of combined years of experience in the domain, custom design each of our solar systems for optimum power generation. An Advanced Site Assessment using the most modern tools that allow us for accurate rooftop perimeters, shadow analysis, and other custom requirements, therefore is a must. These advanced in-house developed tools help us conduct an in-depth analysis of your site and propose a tailor-made solar solution as per your unique power requirement. This also helps us give you the most accurately projected savings while facilitating your solar journey.

2. World-Class Engineering Team

A well designed solar system that fits the profile of your rooftop is imperative for reaping consistent savings from solar. At the heart of it all, MYSUN is built with a core team of expert solar engineers, with over 100 man-hours of experience in designing and installing large scale solar projects across the globe. With a solar system designed by such experienced hands, you are sure to get the maximum possible savings from your solar system.

3. Expert Team of Solar Advisors to Help You Go Solar

Understanding the technicalities and procedures of adopting solar energy may seem a bit overwhelming to start with. To help you make an informed choice and make your solar journey convenient, MYSUN’s dedicated Solar Advisors are available to offer you a resolution to all your technical and non-technical solar queries. Being just one call away on 1800-3012-0101 these highly trained and expert solar advisors will help you make a sound decision at every step of your solar journey. If there is anything that is holding you back from enjoying the benefits of going solar, our team will do everything in their power to ensure the best possible resolution is presented. Our team of Solar Advisors will also help you choose the best possible components for your solar system from a list of a variety of brands available in the market.

4. Variety of Financing Options to Fit Solar in Your Budget

When making a big purchase, it is very normal to look for lucrative financing options. Just like you would go for an Auto Loan or a Home Loan, MYSUN with its inhouse Solar Financing offerings makes your decision to go solar simpler and more affordable. With our tie-ups with top tier Financial Institutions and quick turnaround time with minimum paperwork, you will never cite the economics of a decision as a reason to not opt for solar. We have Solar Financing Options, designed exclusively for both Residential and Commercial & Industrial customers. The diverse payment options make solar a highly affordable technology for power consumers across categories.

5. Robust Annual Maintenance Contract

Even though minimal, solar systems do require regular maintenance in order to deliver high performance all year round. With MYSUN’s annual maintenance contract packages starting from 1 year to 25 years, service and maintenance of your solar system is no worry at all. Furthermore, the freedom to choose your own custom maintenance contract makes the services from experts a financially viable proposition to avail. So, if there is a breakdown or something goes wrong, we are literally just a phone call away.

6. A Promise of 25-Year Solar Support

Every MYSUN installed solar system comes with a 25-year support promise. With a wide network of maintenance staff backed by advanced technologies such as remote monitoring, MYSUN fulfils the solar support promise. We believe when you go solar with MYSUN, you are welcomed in the family of solar enthusiasts.

So what are you waiting for? Give MYSUN Solar Advisors a call right away: 1800-3012-0101 and start your solar journey with the most trusted solar company in India.

For an active business, power expenditure is a huge part of your fixed bills. Power being such a necessity, more often than not, we neglect the bills and take them as a necessary evil. By going solar, you would not just save a vast majority of this expense but also take a step to help the degrading environmental conditions by reducing the carbon footprint.

The Benefits of Solar Energy for Businesses

1. Independent Source of Power

Traditional power sources can be unreliable due to the risk of unforeseen failures. For businesses, it poses an operational risk and requires keeping additional backup power sources such as diesel generators. Going solar, especially with a hybrid system, will shield you from these operational risks as solar is more a risk-free source of power.

2. Fixed Electricity Tariff for 25 years

Power tariffs are subject to market and geopolitical dynamics. We have seen the power tariff hikes in Uttar Pradesh and Karnataka most recently. These hikes have a direct impact on the bottom line of any operating enterprise. Solar energy, as the primary source of electricity for your business, deflects this effect and keeps your business immune from the tariff hikes for the next 25 years by fixing your tariff on day 1.

3. Accelerated Depreciation Benefits

By going solar you can avail Accelerated Depreciation benefits and reduce your business's tax burden.

4. Assured Returns

Solar systems, unlike more traditional investments, offer assured returns. These returns are in the form of savings. Think of it this way, the savings on your electricity bills would pay for the cost of your system in ~3-5 years. Thereafter, you can enjoy free electricity for the next 20-22 years.

How much of a difference going solar can make?

Let’s elucidate this point with a real-time case study. Electricity was a major expenditure for our client who owns a manufacturing setup in Faridabad, Haryana. The setup consumed electricity worth millions every year. By going solar and with the help of MYSUN’s premium quality solar system, the setup is now generating enough electricity to sustain itself and is projected to save approximately 2.6 million rupees on power expenditures every year. With such huge yearly savings, the owners will now have a lot more funds to invest and grow their business.

Also, with the estimated payback period of 3.7 years, the solar project installed on the rooftop of the industry will essentially generate free electricity for the setup for the next 22 years of the solar system life.

Below is a screenshot of the project case study:

Go Solar with MYSUN’s Easy Payment Plans Today

At MYSUN we aim to make solar available for every business enterprise. With our easy to avail and affordable financing offerings, we are making solar feasible for businesses and industries every day. You can choose to pay for your solar system in monthly installments and immediately start seeing the return on investment in a few of years. To know more about the payment plans call our solar advisors now on +91 8448380218 or write to us at [email protected].

We hope, as depicted by the case study above, you must now know how solar is a viable investment for your business. And if you are a businessperson from Faridabad or any other city such as Gurgaon or Manesar in Haryana you must now have got an idea of the solar potential of your state. Therefore, delay no further and go solar today. If you are a businessowner in Faridabad looking to go solar, start your solar journey by scheduling your site survey today.

Adopting solar energy can reduce your monthly electricity bills by up to 80%. While the benefits of solar are well documented and it is more affordable than ever to go solar, the Government, both at the centre and state level, are trying to make the journey even more affordable. Therefore, time to time limited subsidy schemes are announced to connect more beneficiaries to enhance the solar adaptability.

The IPGCL Solar Subsidy in Delhi - Are you eligible for it?

The Indraprastha Power Generation Company Limited (IPGCL), the electricity generation company of the Government of Delhi, is offering a solar subsidy in Delhi for a limited time. Under this subsidy scheme, you can get a straight waiver i.e. Upfront discount of 30% on the solar system cost until Nov 6th 2019.

The subsidy is available for power consumers like residential consumers and non profit organizations (educational institutes, hospitals, NGO’s, RWAs, charitable trusts and etc). If you are a homeowner or a decision-maker of any such organization in Delhi, this is the best time for you to opt solar and increase your savings. MYSUN can help you go solar with this subsidy scheme. Submit your interest through MYSUN today by clicking here.

Benefits of going solar with the Delhi IPGCL Solar Subsidy

Going solar with the IPGCL solar subsidy has three key benefits for you:

1. Reduced solar system cost: Availing the subsidy will reduce your solar system cost by flat 30%. This means, if you are looking to install a solar system of size 12kWp, you will have to pay just INR 3.64 Lakh instead of INR 5.2 Lakh - the approximate cost of 12kWp solar system without the subsidy. Thus, you make a substantial upfront savings of INR 1.56 Lakh.

2. Free 5-year service and solar system warranty - The IPGCL solar subsidy mandates every solar PV installer to provide you with free five-year service and maintenance, along with a five-year system warranty.

3. Efficiently Designed Solar Systems: The IPGCL subsidy guidelines instruct that every solar system installed under the subsidy has to be designed as per the installation guidelines of MNRE. You are assured to get only an efficient performing solar system approved by the authorities.

How can MYSUN help you avail the Subsidy?

MYSUN is one of the empanelled Solar PV installers eligible to install and design your solar system under the IPGCL subsidy. You can share your details with us to solarize under the subsidy here.

Why avail the IPGCL solar subsidy with MYSUN?

MYSUN, the largest online rooftop solar company in India, has custom-designed and installed solar systems for hundreds of businesses and homeowners across the country. Driven by a team of engineers with extensive hands-on experience of designing solar systems for large industries, MYSUN believes in making your solar journey a delight.

To know more about the subsidy call our Solar Advisors today on +91 9873552433 or submit your details here now.

The Uttar Pradesh Electricity Regulatory Commission has announced an up to 12% hike in electricity tariffs for residential consumers. The hike has come as a shock to the residents in the state and will prove to be a burden on the pockets of the common man. The decision has come three months after the proposal to increase the tariffs was submitted by Uttar Pradesh Power Corporation Limited (UPPCL) in June 2019.

By how much will your electricity bills increase?

While the regulatory commission has announced an increase in tariffs for consumers across categories i.e. commercial, industrial, agricultural and domestic, the hike in the domestic segment is the highest of all. It ranges from 8% to a whopping 12% across slabs.

As per the hike levied by the authority, the per-unit cost of electricity consumed below 150 units have been increased from ₹4.90 per unit to ₹5.50 per unit, and for consumption between 151-300 units from ₹5.40 per unit to ₹6 per unit. For consumptions between 301-500 units and above 500 units the increase as dictated has been from ₹6.20 per unit to ₹6.50 per unit and from ₹6.50 per unit to ₹6.50 respectively.

Here's an example of how the hike would affect the monthly electricity bill of a household with an average monthly bill of around INR 7,000:

As a homeowner, you will agree on how steep this hike is when looked in terms of cumulative yearly consumption and expenditure. Based on the example above if your monthly electricity bill is on average INR 7000, you will be paying 8% more month on month, which will, in turn, lead to an increased yearly expense of INR 7,188 on your electricity expenditure annually.

What is the reason for the electricity tariff hike in UP, and when was it last increased?

This is unwelcome news, especially on the back of the knowledge that the tariffs were revised as recently as two years ago. Here’s a link to the news article on the same - UP power regulator gives consumers a shock with 8-15% tariff hike. As per the authorities, the current hike is an attempt to help the DISCOMs who have been facing the issue of increasing operational expenses but decreasing revenue.

How can going solar help you insulate yourself from these rising power tariffs?

With the rising tariffs and our increased dependency on power, every household is paying a lot more than what they used to pay. Electricity tariffs will continue to rise year after year as the cost of fossil fuels and other major raw material used by the thermal power plants keep rising, with various other financial and economical factors also included in causing the rise.

Thankfully, the technology of solar energy offers a one-time solution providing a major relief to homeowners across the country and at large, across the world. Installing a solar system helps a homeowner generate its own electricity. This reduces dependency on the grid electricity by a big percentage for day to day consumption; generating savings up to 80% on household electricity bills.

With the availability of premium modules and advancement in solar system engineering technology, solar systems today are capable of taking a load of the entire power requirement of a household. Given that the solar systems come with a mere one-time investment and a long lifetime, going solar freezes the power tariff for homeowners for the next 25 years.

MYSUN’s precisely engineered solar systems have helped hundreds of homeowners benefit from solar and those who have solar in Uttar Pradesh with MYSUN, today remain indifferent to the electricity hike.

Therefore if you are a homeowner in Uttar Pradesh and if the hike on your electricity bills seems unfair to you, then go solar today by scheduling your site survey. You can also call our solar advisors on +91 9873167009 or write to us [email protected] for any queries or suggestions on solar.

If you are a business owner or own a commercial or Industrial property in Uttar Pradesh, get ready to pay more money for your monthly electricity consumption very soon. The electricity tariffs in the state of Uttar Pradesh have been increased by up to 7% for Commercial and Industrial category consumers. The hike which has left industry leaders shocked was announced just a few days back but the proposal to increase the tariffs in the state was submitted two months back in June 2019 by the UP Power Corporation Limited(UPPCL). The Uttar Pradesh Electricity Regulatory Commission has given the go-ahead to increase the tariffs with certain modifications.

By how much has the Electricity tariff Increased for Commercial and Industrial Businesses in UP?

For small and medium power industries (LT side), the hike is 4% for up to 1000 units, 1% from 1001 to 2000 units and again 4% for the units above 2000 whereas for the large power industrial (HT side) consumer category, there has been a hike of 7% from ₹6.65 per unit to ₹7.1 per unit. This is a massive increase and will directly hit the overall profit margins of businesses in the state. Also, for the agriculture consumer category, a hike of 9% has been levied under the urban schedule and 15% for the rural schedule.

Here’s a snapshot of tariff increase in the commercial and industrial categories:

What is the Reason for the Electricity Hike in UP and how can rooftop solar help?

The hike as was stated by UPERC at the time of the proposal is as a reaction to the increasing expenditures and decreasing revenue as being faced by the DISCOMs, and the hike is a measure taken to improve their financial efficiency.

While this measure may seem necessary for the DISCOMS, it should be noted that these hikes have a direct impact on consumers across categories, especially commercial and industries establishments, which tend to have high electricity consumption. And, as we all know, this is not the first time that the authority has had to increase the electricity tariffs in the state, as the last tariff increase was introduced just two years back in Nov 2017. In such a scenario where tariffs are uncertain and are dependent on various factors such as transmission cost and the cost of fossil fuels, harnessing solar energy for commercial and industrial setups is a smart way to deal with this sudden tariff surge. By installing a solar system, any business owner can deflect the impact of such hikes for the next 25 years.

There are numerous examples of how going solar has helped commercial and industrial establishments mitigate the impact of high tariffs and save millions on power bills every year. Below is a video of a few industries that have gone solar with MYSUN and are now generating their own power thereby making huge savings on their power expenses:

If you are a business owner or a key deciding member of a business with huge power consumption based in Uttar Pradesh this is just the right time to Go solar and shield your business from this hike and many more for the next 25 years to come. Schedule your site survey today or write to our solar advisors at [email protected] and MYSUN engineers will get the most efficient solar system designed as per your businesses’ unique profile.

You may also call us on +91 8448380218 to connect.

To know the solar saving potential of your business instantly, run our solar calculator now and with just two inputs, you will have a Free Personal Solar Scorecard with you for your business.

 

As per section 135 of the Companies Act, 2013, CSR initiatives are a mandate for all qualifying companies in India. As a responsible member of society, working towards the upliftment of society and the general well being of the environment; fulfilling Corporate Social Responsibility for sustainable development is more than just a legal mandate for companies. It should be acknowledged as a moral responsibility for all business entities. After all, businesses flourish only in a flourishing society and environment.

There are countless benefits of corporate social responsibility to society. And companies can use their CSR funds under numerous pillars to fulfil their responsibility towards building a better society, and sponsoring environmental sustainability is one of them.

India is a power excess country but the lack of infrastructure still has left millions living in the darkness. For them, power remains a distant dream. To mitigate the complexities of connecting these remote villages to the main power grids, independent solar systems can be a suitable solution to bring power to their homes. The Government of India has a target to make India a 100GW solar-powered nation by the year 2022, and to meet its growing power demand in an environmentally friendly manner. Various international agencies including the World Bank have offered funds to aid India in its mission to solarize the country.

At MYSUN, we very much support the vision of ‘Power For All’ and strongly believe in the application of solar power to bring power to the remotest of locations. To achieve this goal, MYSUN has partnered with the Mon Ami Foundation, a registered non-profit trust, to help Corporates use their CSR funds to establish solar power projects for the underprivileged and the unconnected across India. Together, both MYSUN and Mon Ami believe that energy is a necessity and when available abundantly in the form of solar energy, no one should remain deprived of its utility.

How MYSUN can help use your CSR Funds to build a Sustainable Environment and Society by Solarizing India

Clean and sustainable energy provided by solar qualifies as spending for Corporate social responsibility towards the environment. To provide the complete end to end solar solution to the underprivileged, MYSUN has tied up with the Mon Ami Foundation, a registered Not for Profit Trust, which has been operational since 2015.

We have predefined the following packages for the quick deployment of CSR funds for the installation of solar projects. These packages start at Rs 5 lacs and go up to Rs 25 lacs. For CSR funds beyond this value, our team will work directly with you on a customized plan.

As a corporate, you can expect the following deliverables for CSR funding:

1. Complete end to end project management
2. Pre and post-impact assessment of the CSR project
3. 80G Certificate for claims from the Income Tax department
4. Fund utilization certificate from Chartered Accountants
5. Complete project implementation report

How to Proceed to Fulfil your Corporate Social Responsibility towards the Environment and Society by Solarizing India with MYSUN

Step 1: Contact MYSUN for deploying your CSR funds under the environmental sustainability pillar by sharing your details here, or writing to us at [email protected].

Step 2: Share your geographical area of focus, budget, choice of solar products and timelines for the project.

Step 3: MYSUN will then work with Mon Ami Foundation to create a specific solution.

Step 4: Mon Ami foundation thereafter will share a “Request for Grant”.

Step 5: As a Corporate, you approve the project and release the CSR funds.

Step 6: Mon Ami Foundation and MYSUN will complete the project by working with local Self Help Groups(#SHGs) and recipient communities and submit all required documentation.

With just 6 simple steps Corporates like yours can bring sunshine in the lives of millions in the country. If you are a member of such a corporation who would like to use their CSR funds for empowering the nation and for the betterment of the environment, do connect with us by submitting your enquiry here or by writing to us at [email protected]. You may also directly call us on +91 9873167009.

 

Going solar today is an extremely affordable solution for meeting the rising energy demands. In fact, as per a survey by the International Renewable Energy Agency in 2018, the cost of building a large scale solar installation fell in India by 27% in the last year alone. With constant innovation in technology especially in the storage sector, going solar is a viable alternative for anyone who owns an Industrial or Commercial establishment. The premise of an 80%* savings on the electricity bill has a huge impact on the operating costs and therefore the profitability of the business.

Having said that, going solar is a decision that you have to live with for the next 25 years so it is imperative that you make your choice well informed. Here are the six things that every industry owner should consider before going solar:

1. Understanding the savings potential of your site with Industrial Solar Systems

Solarizing an industry can help reduce expenditure on power bills and also help them to enhance profitability. However, the exact optimum size of the solar system and the savings potential of your site varies considerably from your next-door neighbor since it depends on a variety of factors such as the roof type, geographical location, establishments in the vicinity, etc.

This is where MYSUN’s self-developed highly accurate proprietary tools such as the MYSUN Solar Calculator prove to be a healthy game changer. Within seconds you can get a snapshot of the savings potential for your industry. For example, below are two industries with very different electricity bills and therefore very different savings potential.

With our highly accurate MYSUN Site Survey, you get an even more accurate picture of the exact savings potential and accurate generation prediction numbers for your site. Each site is unique and at MYSUN, we take a lot of pride in ensuring that the savings potential of your site is met to its absolute best.

 

2. Solar Feasibility of your Industry’s Rooftop

Each rooftop is unique and presents its own set of challenges for installations. With good engineering and precise estimations using shadow analysis, it is possible to know exactly how feasible solar would be for your rooftop. Some old building for example which may not have very flat rooftops may require some kind of structural solution in order to go solar. The good news is that most industries in India have a lot of empty, unutilised space on the rooftop and therefore more often than not an optimum solution can be drawn keeping the safety of the building and the rooftop in mind.

3. Understanding the Grid Connectivity and the type of solar system viable for your industry

Knowing the grid connectivity of the industry as well as the power requirement is what dictates the type of solar system that the industry should go for. If the industrial building is connected to the grid then an on-grid solar system could be ideal for the industry. With an on-grid solar system, the industry would also be able to reap the benefit of net-metering.

However, if the industry is not connected to the grid or if the industry faces too many outages then a DG connected solar system for captive consumption would be the best option, as the off-grid solar system might be less cost-effective. While it is good to know the difference and use cases of both on-grid and off-grid solar systems, your ideal solar installer/partner will be able to make a recommendation for the same keeping in mind the economics as well as the feasibility of both.

4. Knowledge of the solar policy of your state

In order to boost the adoption of solar systems, the government of India, as well as the State Government, have laid out specific solar policies. These solar policies include the take on connectivity approvals, net-metering, tax benefits etc. They have a direct impact on the benefits an industry would draw by going solar. Proper knowledge of the latest policies is therefore indispensable and is a must to be discussed with any Solar Partner for maximum solar benefits. If you are unaware of what is the latest solar policy is in your state and how it affects you, you may want to head over to our extremely detailed, yet easy to understand Solar Policy Page to get an overview before you make your decision to go solar.

5. Reviewing which Solar Energy Model is optimum for your industry – Capex or Opex & Flexible Payments

Investment required for an industry to go solar is relatively high compared to the investment required in solarizing a residential building. Therefore, checking the financial feasibility of both models i.e the CAPEX and OPEX should be a priority when solarizing an industry. While in CAPEX, the solar system is owned, operated, maintained(on paid basis) by the industry, in OPEX, the solar system is owned by an Investor or a third party.

Thus, in OPEX, the industry pays for the per-unit power that it generated and is billed as per the power purchase agreement and not for the installation and maintenance of the solar system. The best part is when you decide to go solar with MYSUN, our solar advisors walk you through a detailed comparison of the OPEX and CAPEX models for you and also provide you with easy to avail flexible payment plans where you can pay a small fee upfront and pay out the remainder of the amount in easy installments over a period of 3~5 years. This will help you save a lot of money upfront and yet reap the benefits of solar.

6. Choosing the right Solar Partner for your industry

Choosing the right solar partner will ensure that all the above 5 points and a lot more are taken care of and you sit back and relax while enjoying the benefits of solar. You can read in detail on some of the things that you must consider in a solar partner before you zero in. Think of going solar as a long term commitment, one that you will make for a big part of your life. You do not want to be stuck with a solar installer who is chasing the next big cheque.

At MYSUN, the reliability and longevity of your solar system drive our business principles. You are welcomed into a family of solar experts with decades of industrial experience who not only understand solar but also the economics for you and ensure that beyond just the power supply, your business actually profits from the decision.

Keeping all the above points in mind before solarizing will ensure you make an informed choice. It will ensure that your industry’s investment in solar is most calculated to gain the best returns possible. So do not procrastinate any longer as your electricity bills are not getting any slimmer. Call our solar advisors today on +91 8448380218 and start your solar journey.

It has just been a month since the electricity tariff hikes were implemented in the state of Karnataka and now there is another proposal for a power tariff hike in the country. This time, it is being slated to be imposed in the state of Uttar Pradesh at a whopping rate of up to 26%.

The UP Power Corporation Limited, responsible for electricity transmission and distribution within the state of Uttar Pradesh, has proposed an increase in power tariffs within the state. The hike has been recommended across slabs with the highest surge of 26% in the lowest slab of 0-150 units, and up to 20% across the rest. When implemented, the surge will increase the tariffs for slab 0-150 units from Rs 4.90 per unit to Rs 6.20 per unit, Rs 5.60 to Rs 6.50 per unit for slab 151-300 units, and for slab 301-500 units from Rs 6.20 to Rs 7.00 per unit. For those with a consumption of more than 500 units, the tariff charged will be at Rs 7.50 per unit, currently which is at Rs 6.20 per unit.

Reasons for the Hike in Electricity Rate in UP

As per the Principal Secretary of UPERC, the hike in tariff has been suggested due to an increase in the cost of coal and fuel. The rise in maintenance cost of transmission and power generation infrastructure is another reason which is being stated.

Public Reaction to the Tariff Hike

The spike, though being reasoned by the authorities, has instigated an uproar within the National Capital Region of the state. Residents of Noida and Greater Noida have been vocally upset about the proposal in the light of the frequent and long power outage being faced in the city. As per the Noida Residents Welfare Association, a hike in tariff cannot be justified at the current irregular supply of electricity, especially in the districts where the revenues paid for the bills has grown and is the highest it’s ever been. As a matter of fact, the revenue collection from Gautambudh Nagar in 2018-19 has been at an all-time high of Rs 103 crore, which in the year 2017-18 had collected Rs 64 Crore only.

How can you safeguard yourself from such tariff hikes with solar?

It is not the first time that electricity tariffs are being intended to be increased in the state. As per media reports, tariff hikes had been implemented earlier as well with a hike of 12% that was levied in the year 2017.

While it is being said that UPERC will conduct a public hearing; inviting consumer objections to the proposed hike before it is implemented, it is imperative to understand that the rise in grid power tariffs may be delayed but cannot be avoided. As fuel prices are rising and costs incurred in operating thermal power plants are exorbitant; the tariff surge is inevitable. The below screenshot of a PFC (Power Finance Corporation) report is a representation of tariff hike in the past.

Going solar can provide a solution to this growing issue. Be it a residential, commercial or institutional requirement, rooftop solar systems when customized have the potential to fulfill any energy requirements. Thus, imparting not only the independence of power but also locking the tariffs for 25 years.

Considering that installing a solar system comes with a mere one-time cost and a life span of more than 25 years, the per unit cost of electricity generated by a solar system is much cheaper when compared to the grid tariff, which as shown in the screenshot above will rise with time.

Homeowners Who Have Mitigated Electricity Tariff Hikes with Solar

A number of our clients have mitigated the effect of electricity tariff hikes. To mention, two residents from Greater Noida, who installed a 7kW and 3kW capacity of solar systems respectively are saving up to 80% on their electricity bills every month. Below is a video of their projects:

Similar to residential customers, going solar can help businesses tackle their high power costs. For example, a label printing company, based out of Gurgaon is projected to save an estimated total of 7 crore rupees over the next 25 years with solar.

And with the advancement in technology, the viability of going solar is easier than ever before. You can run the MYSUN Solar Calculator and calculate the benefits you can reap with solar in the next 25 years, in just 10 seconds.

The Solar Energy space has been booming in the past few years with rapid growth and technological innovations. We have written in the past about some of these innovations such as solar paint and solar tiles, but would you believe that soon there will be Solar Power stations in Space? Yes, you read it right, China is planning to build and launch the world’s first space solar power station into Earth’s orbit.

In theory, China plans to launch satellites equipped with solar panels into space, in an orbital axis above the Earth. The satellites would then assemble in space to form a large-scale solar farm that will harness and relay electricity down to earth in the form of microwaves. These microwaves will then be received by large net-like receiving stations back on earth and will be distributed to an interconnecting electrical grid. The testing and development of the project are scheduled to take place at the Chongqing Collaborative Innovation Research Institute for Civil-Military Integration, in Chongqing's Bishan district.

SOLAR SPACE STATION AND ITS HISTORY

Although, China is the first to announce its plans to launch a Solar Powered Space Station, the concept in itself is hardly new, as the idea was brought to public attention by sci-fi author Isac Asimov in his short story ‘Reason’, published in the year 1941. The scientific potential of the concept was first acknowledged by American aerospace engineer Peter Glaser in 1968.

Apart from China, researchers at the California Institute of Technology, have been working towards developing their own technology to bring this concept to life. And although the idea of Solar Space Stations is not new, the financial and technical viability of it is only being recognized today.

SOLAR STATION POTENTIAL

In the near future, as the global population continues to grow, so will the energy demands. An estimated report by the UNO suggests that by 2050, the world’s population will stand at 9.6 billion. And as per experts, the predominant finite sources of energy will not only be insufficient in meeting energy demands but will lead to irreversible environmental deterioration.

Hence, new innovate ways of generating large quantities of clean energy is the need of the hour, and a solar farm orbiting in space might just be the solution we need.

The much-anticipated Interim Union Budget of 2019 presented in the Lower House (Lok Sabha) of one of the fastest growing economies in the world today, had nothing interim about it. The acting Government announced their vision and plans till 2030; projecting their confidence in regaining power in the 2019 General Elections.

Contrary to the expectation of the solar industry, the budget didn’t have any incentives for the segment. However, the middle-class and MSMEs stand a lot to gain.

The budget began with Interim Finance Minister, Piyush Goyal boasting the achievements of the government in its active tenure. Amongst the emphasized milestones such as - India becoming the 2nd largest hub for startups, the impending 100% electrification across the country and the recovery of INR 3 lakh crore from big corporate loan defaulters; there was only a single mention about the solar industry. Piyush Goyal stated - the installed solar generation capacity in the country has increased by 10 times in the last five years resulting in the creation of lakhs of new jobs in the sector.

Apart from this obvious statement, there were no major announcements or future tax reforms relating to the sector directly. However, there were definitely major announcements on tax benefits for the middle class and MSMEs.

As a major benefit to the middle-class taxpayer, the interim Financial Minister, Piyush Goyal had announced that anyone earning up to INR 5 lakh a year is no longer required to pay tax, while anyone with an annual income up to INR 6.25 lakh no longer have to file income tax returns. This announcement of drastic revisions in tax rebates and slabs could be seen as some benefit to the solar industry, as the middle class now have the inclination to invest more and look at solar energy as a viable option.  

There was some good news for the SME and MSME segments, with the announcement of various tax schemes that will benefit small and medium enterprises. The tax rate for firms with a turnover of up to INR 250 crore has now been reduced to 25% from 30%. This reduction in tax rates and the subversion of interest rates by 2% can enable MSME units and manufacturing industries to have excess capital to invest in solar and deal with their rising electricity tariffs.

MYSUN's take:

While a strong focus on growth in the renewable energy space was expected to be a bigger part at the commencement of the budget, there were no major announcements, tax reforms or realistic targets set for the coming years, with the solar industry in mind. Although the tax revisions for the middle class and MSMEs could drive more interest amongst consumers towards solar as an investment, there is very little incentive for anyone to consider solar for the long term future.