What Are Solar Panels Cost in India and Are They Worth It?

What Are Solar Panels Cost in India and Are They Worth It?

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Thanks to the many encouraging schemes and subsidies issued by the Government of India in favor of solar power adoption, many homeowners are switching to this sustainable energy source to power their household requirements.

However, owing to the exorbitant solar panel costs, many still remain on the fence. Other factors might also include unfamiliarity with solar technology and the inability to determine which solar system provider to choose.

Although the world of solar panels may appear too hard to comprehend, we are here to assist in making the choice much simpler. Continue reading to learn more about solar products in India and whether they are worthwhile.

solar panel cost

Benefits of Solar Panel System

Solar panels offer numerous attractive advantages. They can minimize your home’s carbon footprint, lower your power bills, and possibly boost its value. Are they, however, worthwhile for your home?

Here are just a handful of the advantages of installing solar panels in your home.

1. Reduced Utility Bills

Indian households spend a good portion of their income on electricity bills. With a solar power system at your home, you can easily offset these costs, and by a huge margin. Of course, the question comes to mind – given the initial solar panel costs, how long would it take to break even? Well, with the savings it facilitates, you’ll break even in 2-5 years.

Solar panels not only provide enough electricity for your home, but they frequently capture an excess of energy as well. The excess energy can be fed back into the local grid, lowering your meter and saving you money on your energy bills. Solar consumers can also add a solar battery to store excess energy for later use.

2. Increased Property Value

Homeowners frequently seek ways to increase the value of their properties through upgrades and modifications. And adding a solar installation could also increase the value of your home.

Generally, homes with any types of solar panels installed sell for approximately 4% higher on average than homes without solar energy. Buyers are willing to pay more for homes with pre-installed solar systems. Selling a solar-powered home may yield a healthy return on investment.

3. Tax Breaks & Incentives

Homeowners may be eligible for financial aid from their utility company and government authorities if they opt for a solar system for their home. Many utility companies offer additional subsidies to customers looking to switch to a solar system. Similarly, state and local governments encourage change by providing subsidies to solar users. However, local utility and state government credits vary by state, influencing solar panel price in India.

4. Endless Sustainable Energy

Using solar energy gives continuous access to renewable electricity. Instead of relying on pricey fossil fuels, consumers can take full advantage of a natural energy source that results in lower energy bills. As a result, customers can contribute towards reducing their carbon footprint, helping reduce harmful emissions that cause climate change.

Solar Panel Costs for Homes

While solar panels can help you save money on energy expenditures, knowing the whole initial cost profile can help you create a budget. Solar panel costs may vary depending on the type, model, and region.

Solar panel costs are affected by a variety of factors, including the size of your property and the number of panels required to power it efficiently. These figures, however, do not include any additional incentives or tax credits that potential solar consumers may be eligible for. Rebates and credits help to minimize your monthly utility expenditures as well as the overall system installation costs.

In conclusion, purchasing a solar system will not only enable you to save a lot of money over time but will also enable you to lessen the carbon footprint of your house.

Doing something helpful for the environment makes you amazing.

And for the best solar energy-related products, Genus Innovation is always here to help you out! Connect with us right away to know more.