How can you earn money from Solar Panel Energy in India?

 

With the growing interest of the government and businesses in solar energy, India has become a hotbed for the solar panel energy market. This has also resulted in a growth in opportunities to earn money and generate employment.

But how exactly can you earn money from solar energy in India? In this article, we take a look at how!

Earning Money from Solar Panel Energy in India

To make the solar panel installation process easier on people, banks and the government both are providing loans and various schemes. It is important to note that you can only trade electricity from your home solar plant to up to 500KW. Below we understand how we can make money by generating and selling electricity through solar power. 

Obtain a license: To install a solar panel plant, you first need to get an approval license from the local electricity authority. After you sign the power purchase agreement with them, an investment of around 60k to 80k has to be made to set up the solar plant. State governments and banks also run special offers and schemes to enable the installment of solar plants, making it easier for you to make the investment.

There is some legal work required to get the permits required for your solar power plant, especially if it is a large scale power plant. Choose an eligible solar contractor, and they will help you with all the approvals

EXPLORE – STERLING & WILSON SOLAR

Solar panel installation on roofs: You do not need to have a separate space for the installation of solar panels. It is as simple as installing the solar plant on the roof of your house. Before you start selling electricity generated by these solar panels, all you need to do is tie up with the electricity company in your area. 

Availability of solar panels: At present, solar panels are available for sale in Rajasthan, Madhya Pradesh, Punjab, and Chhattisgarh. You can install a solar panel at your home and then sell the surplus power generated to the state government. In return, you get paid! In Uttar Pradesh, the government runs an incentive scheme on solar power. 

If you’re wondering where to buy solar panels, you can contact REDA or your state government's Renewable Energy Development Authority. Their offices are located all over the state. Apart from this, you can also purchase solar panels from private dealers. You can avail subsidies and loans for the same from banks or state governments.

About Sterling & Wilson Solar –

Sterling and Wilson Solar offers a complete range of Solar EPC solutions for utility-scale, solar rooftop, and floating solar power projects. SWSL solutions include design, engineering, procurement, construction and project management, and operations and maintenance.

What are the advantages and disadvantages of solar energy

Installing a solar panel system is a great move, given the shift towards sustainable energy in the last few years. Also, it is a cheaper option once you get to understand it fully, although there are many details to go over when choosing this option. You must have done your share of solar surveys, watched those ads about how solar energy is better for you. Yet, to be fully convinced about it needs proper pros and cons approach.

Below are some of the pros and cons of solar energy:

While solar is a great option, keeping in mind what it entails is a good start. Some common benefits and drawbacks that come with solar installation are that while it gives you a lower electricity bill but it doesn’t necessarily work for every roof type. Another point is that while it improves your home value, it’s not entirely ideal when you’re about to move. A reduced carbon footprint comes with expensive panels and lower electricity costs mean lower savings.

Even as there are many benefits of solar energy, some top important ones to bear in mind are as follows:

1. Reduces or eliminates your electric bills

With an installed solar panel at your home, your electricity generation becomes less and reduces your monthly electric bill. Also, a solar panel’s lifespan is around 25–35 years which means that your electricity costs are lower for decades by going solar.

2. Your home value increases

It is a hidden market insight that the value of your home increases after solar is installed. So, effectively you are in a profitable position with solar even with a little extra cost.

3. Helps you manage rising energy costs

Higher electricity bills lead to anxiety in homeowners as it is mostly out of their control. And while the cost of solar has decreased with time, the cost of electricity has risen significantly. So going solar helps you gain some control over your electricity spending and manage costs.

4. Reduces carbon emissions

Solar is a clean, renewable source of energy that can help reduce carbon dioxide emissions and lower our carbon footprint on nature. Unlike traditional fossil fuels like coal and oil, solar energy does not lead directly to pollution.

So then what are the disadvantages of going solar?

Below are some things to keep in mind when considering solar:

1. Solar panels don’t work for every type of roof

Some roofing materials can be difficult for solar installers to work with, making it difficult for solar to be installed. Also, many homes and apartments have skylights or other rooftop additions like roof decks that can make the solar installation process difficult or costly.

2. It isn’t beneficial if you’re about to move

While it is a great financial investment, if you’re thinking of moving, then the investment might not get you anything in return except costly installations.

3. Lower your electricity costs, lower your solar savings

This means that if you have a sizable electricity bill, then going solar makes sense as it will lead to higher savings. But if your electricity bill is small, to begin with, then the savings are lower too.

5 Reasons Why Solar Energy Is The Best Source of Electricity

At a time when every aspect of human life is supported by technology in some manner, the demand for electricity is at an all-time high. This electrical power can be generated through many sources including everything from fuel to air or water. However, one of the most efficient and resourceful sources of energy is the sun. The giant burning star is capable of generating limitless amounts of power, making solar energy one of the cleanest and greenest electrical solutions available.

How do we create and consume electricity generated from solar energy? A solar panel is responsible for converting the rays from the sun into consumable electrical power. This is called the “photovoltaic effect” when sunshine hits the photovoltaic (PV) cells, the photons of light excite the electrons in the cell which makes them flow and generate electricity. Solar farms which are an accumulation of many solar panels are also used to generate large amounts of electricity for commercial and industrial purposes.

Solar EPC companies like Sterling & Wilson Solar amongst many others have industry-leading expertise in this kind of solar installation and solar engineering.

Now that we know how solar power is generated, here are some reasons why it should be considered as the best source of electricity:

1. It’s good for the environment because solar rays are an unlimited source of renewable energy. The carbon footprint of solar panels is also minimal and it continues to reduce as the materials used in them are being increasingly recycled.

2. It’s a solid investment. Solar installations hardly require any maintenance and could last for over 25 years with little loss inefficiency. It also adds property value to your home in case you decide to sell it later on.​

3. It’s reliable and efficient. The energy that reaches home from power plants through large networks tends to result in energy loss which is completely minimized when it comes to solar energy.

4. It has a fixed energy cost. Investing in electricity generated through solar engineering means that your electricity bill is replaced with a set, minimal monthly payment. This makes you less reliant on national infrastructure and you can enjoy cheaper electricity.

5. It is widely accessible. All solar panels are exhaustively tested to ensure that they can withstand extreme weather conditions in different environments. It is the ideal source of electricity for hard-to-manage places or isolated places. Any excess energy produced in the daylight is stored for later use.

Considering all of these benefits, solar energy is definitely the future of energy. The applications of electricity generated from a solar panel are limitless, making the future of energy renewable and clean.