While the environmental benefits of going solar are well documented, and it is widely considered to be a viable solution to help us overcome the rising problem of climate change, one often overlooked advantage of going solar is the financial benefits it brings. When you are producing your own electricity using your rooftop solar system, you are inherently not dependent on the local electricity supply helping you save up to 80%* on your electricity bill monthly. Using net-metering, you can potentially also export the excessive power that you may have produced and further import it at the night time when your system is not producing the energy.
Another point to note is that for a rooftop solar system, the tariff for the next 25 years is decided at the time you sign the PPA (Power Purchase Agreement). This potentially insulates you from inflation and shocking rise in price of electricity due to external factors like the coal crisis the country is going through helping you to plan your expenses. Most of the solar systems, depending on their size and capacity have a payback period of about 3-4 years. This means, for all practical purposes, you are going to be producing your own power and consuming it for free.
Let’s try and understand the financial benefits of going solar through our in-house developed tool, which is the MYSUN Solar Calculator and give you a quick snapshot of your solar savings potential within ten seconds. All you need to do is input your location, electricity bill amount and the category of your establishment and you have all the information you need to make an informed decision about going solar.
We will take an example of a residential home in New Delhi at Vasant Kunj, which is spending about INR 6,000 every month on an average on their electricity bill. This amount but obviously will be higher in summers, owing to the ACs that will be operating and slightly lower in the times of winter when the power utilization is lower. On that note, you would be interested to note that your solar system is perfectly capable of handling all the loads of your property, provided the capacity of the system while designing is appropriate. This is why at MYSUN, our engineering team spends a lot of time analysing your electricity bill and personalising a solution that gives you most economical yet, highest possible returns on your investment making your journey towards solarization comfortable and rewarding.
Let’s get back to the example we were talking about. For the bill amount of INR 6,000 a month, the solar calculator recommends a system of 6.3kW, which will allow you to save almost 82% on your monthly electricity expenses. Your system will pay itself back in less than 5 years. In fact, you can utilise this link to be able to go through our findings.
Not only this, you can avail a variety of financial offerings that MYSUN has to make your journey even more affordable on your pocket.
So, there you have it, you stand to save Lakhs and Lakhs of Rupees over the 25 years lifetime period of your solar system. So go ahead, and give your MYSUN Solar Advisor a call and get started on this journey of mega savings.