5 Advantages of Rooftop Solar Installation for Homeowners
As the world grapples with climate change and seeks cleaner, more sustainable alternatives, rooftop solar has become increasingly popular. Here are five compelling advantages that make rooftop solar installation a smart choice for homeowners.
5 Benefits of Rooftop Solar Panel Installation
Read below to know the benefits:
1. Cost Savings and Financial Benefits
One of the most significant advantages of rooftop solar installation is the potential for substantial cost savings over time.
Let’s break down the numbers:
Suppose you’ve installed a 3 kW solar panel on your rooftop. A 1 kW solar panel can generate 4 units of electricity per day, so a 3 kW system will generate 4 x 3 = 12 units of electricity daily. In a month, that’s 12 x 30 = 360 units. Now, let’s translate that into rupees. If the per-unit electricity cost is Rs. 8, then the 3 kW solar system will save you Rs. 34,560 every year from your electricity bill.
Now, let’s consider the long-term impact. A solar power system typically lasts up to 25 years after installation. So, over its lifetime, the 3 kW system will save you a total of 4,320 units annually, amounting to a whopping 1,08,000 units over 25 years. This substantial reduction in electricity expenses offsets the initial investment, translating into significant long-term savings.
2. Government Subsidies and Incentives
The government offers incentives such as tax credits, rebates and net metering programs, further easing the financial challenges of solar installation. With the implementation of the scheme, the PM Surya Ghar Muft Bijli Yojana, you can reduce your home solar installation cost significantly. Under this scheme, the rooftop installation subsidy amount ranges between Rs. 30,000 and Rs. 78,000, depending on the capacity of the solar system installed.
Households installing a 1 kW solar system are eligible for a subsidy of Rs. 30,000, a subsidy for a 2 kW solar system is Rs.60,000 and those opting for a 3 kW system or above can receive a subsidy of Rs. 78,000.
Similarly, state governments may offer additional incentives, such as payment for extra electricity produced at the prevailing electricity charges in the state per unit. Such government initiatives make solar installation more accessible and affordable.
3. Increased Property Value
Moreover, solar panels benefit homeowners by increasing the value of their residences. Homes outfitted with rooftop solar systems fetch a resale value typically ranging between 3% to 4% more compared to properties lacking such sustainable features.
Tenants also exhibit a preference for rental properties equipped with solar systems, driven by the prospect of reduced electricity expenses. Consequently, investing in rooftop solar not only delivers immediate advantages but also amplifies the property’s market worth, ensuring a profitable return on investment. Rooftop installation improves property value and positions homeowners for sustained financial gains through high rental earnings and heightened ROI.
4. Job Creation and Social Impact
Rooftop solar installation not only benefits homeowners but also contributes to employment growth in the renewable energy sector. Globally, renewable energy jobs are expanding five times faster than overall employment, reflecting a growing demand for clean energy solutions. India mirrors this trend, with the country’s solar workforce expanding by 165% over the last 5 years alone. According to estimates by NITI Aayog, ambitious renewable energy targets could generate over 10 million jobs in India by 2047.
States like Tamil Nadu, Rajasthan, and Andhra Pradesh are emerging as solar job hubs, offering employment opportunities to a diverse workforce. Renewable energy jobs also offer competitive salaries. According to an analysis by the CEEW, the average monthly earnings in the solar sector are roughly 20% higher than economy-wide averages.
5. Environmental Sustainability
Another significant advantage of rooftop solar installation is its positive impact on the environment. A typical 3 kW home solar system can generate 360 units of electricity per month, totalling 4,320 units annually. Over its 25-year lifespan, this translates to a reduction of approximately 130 metric tons of CO2 emissions. This is equivalent to planting 130 trees or taking 3 cars off the road. Additionally, solar panels require minimal water for maintenance compared to traditional power plants, further conserving water resources.
In conclusion, rooftop solar installation offers homeowners a multitude of advantages, ranging from cost savings and employment generation to environmental sustainability and increased property value. Investing in rooftop solar is not just a wise decision today—it is a crucial step towards a sustainable tomorrow. Das Energie Private Limited assists you in switching to solar by providing you quotations from the best solar dealers near you. You can contact the solar company if you are finding it difficult to choose the right solar installer for you.
