Installing Solar Panels – Is It Worth the Cost?

Installing Solar Panels - Is It Worth the Cost?

Anyone wishes to go for clean, green energy would certainly ponder upon all the possibilities including the first and foremost thought that while Installing Solar Panels - Is It Worth the Cost?

Size, Quantity and the Cost

We had installed a three Kilowatt On-Grid Rooftop Solar Power Plant in June 2017. Our power bills every month had been between Rupees 3000 to $ 4500 and rising before installation of solar power plants. We are a household of four and own a house, with sometimes air-conditioning in winter for heating and in summer time for cooling. The house had low voltage down lights in it. We stay in a plains location, so home equipment for winter heating and summer time cooling are wanted throughout the year. Our consistently rising electricity bills had been a matter of actual concern.

Government Rebates and Subsidy

The Government of India authorities through its Ministry of New and Renewable Energy (MNRE) gives rebates for installation of PV (photo-voltaic) cells or Grid Tied Rooftop Solar Power Plants for domestic, institutions and social sector @Rupees 20,000 per Kilowatt or 30% of total project which ever is less via state nodal agencies (SNA). In our case, the subsidy or so called rebate was priced about Rupees 60,000. The amount of subsidy was disbursed by the District authorities through Chief Project Officer in the District Renewable Energy Department directly into our Bank Account which was duly connected with my AADHAR and PAN card.

    • In suburban areas, the solar panels feed extra electricity into the DISCOMS essential grid utilizing an Grid-Tied inverter which is linked to your electricity meter. The Grid-Tied Inverter in this kind of solar power plant is also capable to export the extra electricity generated by you system into the Grid so that same could be subtracted while importing the electricity from the grid.
    • The electricity meter is modified to a "smart meter" or Net meter which can also be put in as a part of the inverter. The "smart meter" measures the quantity of electricity you utilize (usher in) in addition to the quantity of electricity your solar panels are placing out. As you utilize electricity throughout the day, the meter will subtract your electricity utilization from the quantity of electricity your panels are making.
    • If you generate extra electricity than you're utilizing, then your extra electricity is fed in the Grid and remain in your credit for one financial year.  You may like to use the unspent energy credits within a financial year or as per the provisions laid down by the state electricity commissions.

The highest kind of savings or benefits is thru exporting your extra electricity again to the provider that actual financial savings in your power invoice might be made. When you get subsidy, rebates, solar generation incentives and reducing your electrical bills to the tune of almost 90%, then doubt about whether Installing Solar Panels - Is It Worth the Cost? is out of question.

Size of Solar Power Plants and Roof Space required

We use about 3 to 3.5kW of power every hour throughout the day. So putting in a 3.00kW solar system would solely nearly meet our instant power requirement.

Given that the most financial savings are from utilizing your own solar energy as well as exporting the extra electricity to the grid, we wanted to install a bigger system. Our roof dimension imply that we might solely accommodate a 1kw system on every roof top. We opted to install a complete of 3kW over 3 roof areas of 110 sq ft each utilizing a particular grid tied inverter that would take power from solar arrays.

Some issues for finding the solar panels:

    • Direction: Roof ought to face south or close to to south to extract the most sunlight. In our case every roof confronted south-east and south-west and appears to work effectively.
    • Roof slope: The panels, in India, ideally ought to be at about 28 to 30 degree from the horizontal to obtain maximum solar in winter and never get too hot in the summer time solar.
    • Overshadowing: Make positively sure that  the panels won't be overshadowed throughout their peak producing time either from timber, other buildings, TV aerials and many other aspects. If a panel is overshadowed, even a small quantity, that solar generation from that particular panel would be affected adversely or in many cases may won't generate any electricity.
  • Peak Generating Times: usually between 10:00 am to about 03.00 pm is the common peak producing time for the panels. The instances will improve in summer time from about eight am to about four pm relying on roof orientation.

Apart from including the solar panels, we additionally undertook some modifications inside the house:

    • The washer, dryer and dishwasher had been additionally added to the off-peak tariff saving 50%
    • The off-peak tariff cuts electricity to those home equipment between 6:00 pm to 9:00 pm every day
  • We eliminated all our low-voltage lights and changed with energy environment friendly fluoro down lights and LED Bulbs. The low-volt lights drew about 50 watts per hour. The new lights draw about 15 watts, saving almost 70% on every light.

How is it worth the Cost?

We invested Rupees 2,10,00 for all the electrical work together with installation of the solar panels, new meters, new wiring for dishwasher, washer, dryer. Given the subsidies or rebates from MNRE / HAREDA authorities Rupees 60,000 the complete cost or funding of the whole project got here to be Rs.1,50,000.

How much money will we save?

We simply acquired our first solar-boosted electricity account for the spring quarter. Our invoice for this time one months was reduced 90%.  Moreover the reduction of the bill is not only for one month or one year but for the next 25 years due to net metering benefits.

Our greenhouse fuel emissions went from 5 tonnes to 2.6 tonnes, a 48% saving.

When will I get my a refund?

We will save at the very least Rupees 3000 a month and Rupees 36 thousand every year.  So in a long run I might earn near about Rupees 9,00,00 in next twenty five years whereas my return of investment would be almost within 4 to 5 years.

How lengthy did all of it take?

We used a neighborhood electrician educated in solar installations, who offered us with all the solutions for lowering power, revised tariffs for our home equipment and provide and install of the solar system. We first had needed to apply online for solar subsidy with MNRE / HAREDA and subsequently to electricity provider to verify they'd settle for us supplying power to them (2 weeks). The install, re-wiring for tariff change-over to home equipment, solar installation took 5 to 7 days. The good meter was put within 3 weeks later.

Our expertise opinion?

I have no idea why I waited so lengthy to install the panels, and would advise anybody to make this as a part of their long time investment in to clean green energy. If we analyse the above situation, we may certainly now conclude that Yes, of course, installing solar panels is worth the cost.

You may like to contact DayRise Solar Experts to seek opinion about the cost involves and recurring benefits for a longer term in installation of solar panels.

Installing Solar Panels - Is It Worth the Cost?

Installing Solar Panels - Is It Worth the Cost?

 

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