Did your world go dark when you saw your last utility bill? If this is the case, you are not alone.
The heat necessitates air conditioning, electrical companies necessitate large sums of money, the International Monetary Fund necessitates increased charges, and Russian President Vladimir Putin necessitates the annihilation of Ukraine.
But it's tough to explain the jumble of reasons to a toddler who just wants to sleep with a teddy bear when the air conditioner is on. For those who can afford it, harnessing solar electricity is a pleasant option.
Before deciding on a solar solution, consider the following:
One can go to Sainik Farms in Delhi and get a solution for a few hundred thousand rupees as opposed to a million-plus option from a branded supplier, but it comes with its own set of problems.
Lower-cost solution suppliers typically ship a container of solar equipment and engage a regular electrician to install it. Because of the technological nature of the product, a lack of support may cause certain problems.
Solar panels of poor quality can produce short circuits and sparks. In the best-case scenario, the system will fail and you will have to track down the provider, who may or may not be able to provide after-sales support.
"Even if you have a top-tier branded solar solution placed in your home, it can act up a year or two after purchase," explains Shubham Kumar, Bigwit Energy's head of business and planning. "You contact your local supplier, but he may have turned to real estate and advises you to contact the manufacturer directly."
"In the worst-case situation, sparks from low-quality panels can start a fire," Shubham warns.
While MNRE does not inspect or guarantee the quality of the panels or service, its registration permits the supplier to set up the net metering system, which is where the majority of the cost reductions are found.
Consider purchasing a car: given the price and longevity of the transaction, you would prefer a trusted name like Toyota or Honda over an unknown business, if your budget allows. Solar panels typically have a warranty of 10-15 years and a life of 25 years, so they may be lighting up your child's wedding reception.
Net metering, a billing technique that credits solar energy system owners for the electricity they add to the grid, can save money.
For instance, suppose you own a home in Delhi with a solar system on your terrace. It may produce more electricity than you require during the day, allowing you to sell the excess to a local DISCOM such as BSES.
Using your annual electricity consumption figures, some companies can offer you a package that can reduce your electricity cost to zero. If your household uses Rs4,000 of electricity each night on average, you can sell Rs4,000 in credits that can be used after the sun goes down while the sun is shining.
During the day, you would utilize your own solar energy, and DISCOM would buy the excess. Without batteries, you'd have to rely on DISCOM for energy at night, which means load shedding at night necessitates the use of an antiquated generator powered by the ever-expensive diesel.
To entirely avoid power interruptions, batteries will be required to store the electricity created while the sun is shining. There are various types of batteries, ranging from the tubular batteries familiar from UPS systems to more expensive solar-specific solutions that can cost an additional Rs80,000 per kilowatt for a household solution from a reputed firm.
Solar solutions are less practicable in apartments due to a lack of open space that receives direct sunlight. Though debatable, common areas such as parking can theoretically be solarized, which may not cover the entire load of all apartments but can help to reduce electricity expenses.
Upfront and ongoing costs
In 2018, a homeowner of Dwarka in Delhi erected an 11kW solar system that cost him approximately Rs6,21,000. "I don't pay electricity bills during the cooler months of November to March because of the credits I collect from solar," he explains.
Even though he had three air conditioners, two refrigerators, and a variety of household gadgets that utilize electricity, his bill did not exceed Rs7,000-8,000 per month under the prior lower tariffs during the peak of summer. He anticipates greater savings as electricity rates rise.
All of this is fine, but the cost of solar is high and grows with the exchange rate. "As a rule of thumb, a typical household with three to four ACs and standard appliances need a 10kW system, which presently costs around Rs5,72,921 without batteries."
According to one source, it can reach as high as Rs6,74,392. A 10kW system with batteries can cost between Rs8,83,201 and Rs10,12,000, but although the panels can endure for decades, the batteries may only last a couple of years. For longer battery life, choose lithium ion batteries.
Being completely self-sufficient in terms of grid electricity is not the best solution. Batteries are expensive and must be updated frequently, thus it might cost up to Rs300,000 additional every two years. If the goal of the PV installation is to reduce the electricity cost, a hybrid system offers the largest savings. If the goal is to snub DISCOM, by all means, go ahead and do it.
A minor additional cost is associated with maintenance, which includes washing the solar panels on a regular basis. "Every week, a worker comes to service my solar panels," Mr Singh explains. "Every month, I pay him Rs1,500."
How does one finance a solar system costing more than Rs3,000,000? Bigwit Energy provides loans at a fixed 6% interest rate or at very low credit card interest rates. The loan term is typically 6 months to 2 years, with no down payment necessary in some situations.
Depending on your electricity consumption and the amount spent on the solar solution, what you owe the bank at the end of the month may be less than your bill. For example, if you spend Rs25,000 per month paying off the loan while your monthly electricity use is Rs40,000, you will save money even though you have a debt.
Remember that if power tariffs rise, the quantity of instalments remains constant, therefore your savings will rise in proportion to the rise in energy costs.
However, industry insiders grumble that banks take months to complete solar financing. Given the technology needed, panels and various pieces are imported, and the rupee's rapid devaluation raises pricing. When the loan is ultimately finalized a few months later, the cost of the package may have risen as well.
If you want to be the part of BigWit solar rooftop family, you can give us a call on 7082955224 or send us a mail on firstname.lastname@example.org. BigWit Energy is one of the best solar companies in Chandigarh, Mohali, Punjab, Panchkula and all of North India and we offer EMI plans of upto 3 years for our customers too pan India!
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