Benefits of Solar Plant

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An electricity generation power plant which converts sunlight into electricity is called a solar power plant. People often get confused whether it is a good option to invest in solar energy or not. This makes them a bit reluctant in adapting this wonderful technology. This is the list of Benefits of Solar Plant, which makes it the best investment option in the present day and age.

Solar energy has been a trending topic since the advent of 21st century. With new innovations and improvements in technology, adapting solar energy has become cheaper and convenient. The technology, be it, solar panels, inverters or any other component in solar plant are becoming more and more efficient day by day.

People are now, becoming increasingly aware of the benefits of solar energy. Climate change, global warming and pollution are some of the environmental causes which has made individuals, organizations and countries to think and believe in solar energy. People have become aware that, solar is not only an electricity generating plant in your house, office or factory, but, it is an investment. You can literally earn by installing a solar plant.

This post will list all the reasons you should opt for solar energy (benefits of solar plant) and will convince you in immediately installing a solar plant in your building and reap its excellent benefits. 

benefits of solar plant

Benefits of Solar Plant

The benefits of solar plant are as follows:

  1. Generate Income from Solar Plant – You can generate a passive income from solar plant. Throughout the world, in order to promote solar energy, governments and various organizations are providing subsidies, incentives and tax benefits to those who install a solar plant. In India, both central and state governments of various states are providing subsidies and tax benefits at their respective levels to make solar power reach to the masses. This reduces the cost of solar energy and you get Return On Investment (ROI) even faster. Further, electricity prices are generally in slabs (especially, in residential sector) which vary depending on consumption of electricity. These slab prices, keep on increasing as electricity consumption increases. Installing a solar plant, will either reduce or nullify your electricity consumption from the grid. This will make your electricity bill zero or will decrease your bill as you’ll have to pay for the cheapest rate slabs. For Example, You have installed a 5 kWp solar plant at your home. This will generate approximately 8100 units annually. If you assume the price of electricity to be ₹5/- per unit, you can save approximately ₹40,500/- in the first year itself. Solar plant has a lifespan of 25 years. Over this years, your savings will become your earnings. This way, you can earn millions from solar energy in its life span. You can get a return of as high as 10% per year on your investment from a solar plant as small as 5 kWp. This is your passive income making you rich while you sit back and relax. You will earn even more, installing bigger plants. To know more about this advantage of solar plant, click here.

  2. Reduce your electricity bill up to 100% – If designed properly, you can power your entire electricity needs from your solar plant without paying a dime to the electrical authorities. This also, finishes your dependency on electrical authorities for fulfilling your energy needs. This will allow you to run your electrical appliances freely without bothering about high electricity bill.

  3. Solar power is available everyday – Solar energy is the most abundant source of energy available on Earth. It is spread all over the world. Sun rises everyday and blesses us with its sunshine. So, you never have to worry about power cuts or running out of electricity.

  4. Feed excess solar power to grid through net-metering, further reducing your electricity bill – On-grid solar plant feeds excess solar energy generated by your plant, after your consumption to the utility grid. The electricity you export to the grid gets subtracted from your monthly electricity bill. This reduces and sometimes even nullifies your electricity bill.

  5. Generate approximately 1600 units of electricity per kWp annually – Yes, you can generate this much electricity per kWp annually. For example, you install a 10 kWp solar plant. This means you will generate around 16000 units in a year. This is equivalent to about more than 1300 units in a month. All this is your earnings from your solar plant.

  6. Return on investment within 4 to 5 years – Several studies and analysis have been done on this topic suggesting that you can get Return on your Investment (ROI) within 4-5 years of your investment. The period of return decreases even further as we go on increasing the capacity. Further, with the improvements in technology, owning a solar plant is becoming cheaper day by day. This further reduces your electricity bill. We have installed solar plants, where ROI comes within 2 to 3 years.

  7. Plant life more than 25 years – Solar panels generally come with a warranty of 25 years. Some even come with 27 years of warranty. The warranties are enough to show that solar panels are long life devices and remain reliable for at least quarter of a century. This is only warranty, solar panel’s life is even beyond that. In most cases, solar panels will work effectively for more than 25 years. Here, we are talking about solar panels because they cost as much as 60 to 70 percent of the entire system cost.

  8. Zero / Minimal maintenance – No special maintenance is required for maintaining a solar plant. You just need to wash your solar panels once they are dirty. If you install robotic cleaners, even your this work will get reduced. To know more about how to clean solar plant, click here.

  9. Get generation-based incentives (GBI) – These are incentives provided by India utilities, to promote solar energy. If you have exported more energy than imported over a certain period of time, governments of several states in India provide Generation Based Incentives. In other words, government pays you for extra energy you exported to the grid. This means, you are now selling electricity to your country. 

  10. Subsidy – In India, Ministry of New and Renewable Energy (MNRE) provides subsidy up to 30% to the consumers who install solar power plant in most states of the country. In special states, such as, Himachal Pradesh, Jammu & Kashmir, North Eastern States, Sikkim, Andaman & Nicobar Islands and Lakshadweep islands, subsidies up to 70% are given. However, these subsidies are for residential, institutions and non-profit organisations only.

  11. Tax Benefits – In India, if you install a solar plant in your office, factory, industry, hospital or any other profit making organization you’ll avail accelerated depreciation tax benefits. You can get these benefits under Section 32 of the Income Tax Act. These reduce your ROI period making your investment profitable even earlier.

  12. Get 25 years warranty on solar panels and 5 years complete system warranty – Solar panels have a warranty of 25 years and some even have 27 years warranty. These are long life devices. Once installed, you don’t have to bother about it much as it will work perfectly for years to come. Complete system warranty is of 5 years.

  13. No additional/hidden costs

  14. Save Earth by saving tons of carbon dioxide emissions per year – Installing a solar plant is equivalent to installing hundreds of trees. This not only prevents climate change but also helps reduce respiratory and cardiovascular health issues faced by thousands of people around the world because of increasing pollution.

  15. Get 24-hour power backup – If you live at a place, where there is insufficient supply of electricity, frequent power cuts or electricity is not available, you can go for an off-grid solar plant. These solar plants contain batteries and provide electricity even at night when Sun is not there.

  16. Solar panels absorb heat making your roof cooler by several degrees – During summers, in hot countries like India, the top floor becomes too hot. Solar plant on your roof saves you from this heat as it absorbs much of the Sun’s heat falling on it.

  17. Increases property cost – Solar plant is an asset. When renting, your tenant will pay for only the reduced electricity bill after consumption from solar plant. This increases the value and and provides an additional facility to your tenant. This increases the rent of your property. The similar thing happens while selling the property. The property cost increases because of an additional facility or asset.

  18. Makes your building a modern green building – To qualify as a modern and green building, your building must have a solar plant on its roof. This will make it self-sufficient without damaging the environment. This will also increase your social status. You can proudly say that you own a solar plant and you care for the environment.

There are so many benefits of solar plant. This is the reason why Indian Government under Jawaharlal Nehru National Solar Mission (JNNSM) is aiming big in this sector. Govenment of India and Ministry of New and Renewable Energy (MNRE) plans to install a whopping 100 GW till 2022. Of this, 60 GW will come as Ground-Mounted solar plants and the rest 40 GW will come from rooftop solar plants.

India is building huge solar plants of capacity ranging from few kilowatts to thousands of Megawatts almost all over the country and the government is also providing various subsidies and tax benefits to promote the use of solar plants. All this is being done to improve our environment, make India a surplus electricity state and to make electricity available to all at reasonable costs.

Not only in India, but, all over the world, solar technology is touching lives of millions of people and improving their living standards. Lives of several communities in Africa have changed completely through various innovative designs of this solar technology. Recently, Saudi Arabia has announced, that it is planning to install world’s largest solar plant having a budget of US$200 billion. China manufactures the most number of solar panels and is one of the leading countries putting money on solar energy. Germany, USA and Australia are also working hard on research and implementation to grow this sector.

To accelerate this movement, International Solar Alliance (ISA) has been formed with over 100 countries as its members and it is headquartered at Gurugram in India.

Generation of tons of carbon dioxide can be saved using solar energy, making the world a cleaner and better place to live.

Now, as you are aware of all the benefits of solar plant, it’s time to get one. To install a solar plant and get a free quote, click here and fill the inquiry form. We’ll get back to you as soon as possible. 

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