On an average many cities in India have approximately 2-3 hours of power cut daily. In that case we must realise that ‘full backup’ was considered on either roof-top solar or diesel generator.
It is recommended housing societies or commercial purposes to replace the diesel generator sets with the rooftop solar systems. In a study, the cost of power from solar rooftop is about half the cost of power generated by diesel generator sets.
It is founded that the cost of power generation from a diesel generator set, including the capital cost, is Rs. 27 to Rs. 33 per unit as compared to rooftop solar tariff of Rs 3 ~ 9 per unit. The study finds out the diesel generator sets have become more inessential due to reducing power outrage in cities. As power outrage from the grid reduces, the cost of power generation from the sets increases.
As for solar, it is clear that costs are coming down. Rooftop solar panels are now more inexpensive and accessible than before. Solar is a great way to reduce your power bills.
But what about the future cost of grid electricity? According to the Energy Information Administration, residential electricity rates have increased nationally by around 30% in the last 10 years. Utility electricity rates are increasing annually by 5 %.
If electricity rates are going up, then of course going solar makes sense. Because it is a one-time investment and after that we get the free energy for next 25 years.
If you purchase a solar energy system for your home, all of the solar electricity that your system produces will be ‘free’ once the system has paid itself off which will take approximately 5-10 years, depending on where you live. It will utilise your unused space of the rooftop. If you finance your solar energy system with a solar lease or power purchase agreement (PPA), you will pay a set rate for your solar electricity regardless of whether your utility electricity rates go up or down.
In some years your power bills may actually be higher with solar than without, although you will still save money in the long term and you are a part of Swachh Bharat Mission. With global warming a growing concern, let’s do our bit to save the planet. A 100 KW rooftop system would save approximately 90,000 Kg of CO2 annually, which is equivalent to almost 50 cars off the road for a whole year. Be a part of “Go Green” and enjoy the future with solar.