Solar panel installation can seem like a daunting investment. The upfront costs can in fact be the most significant deterrent against taking the solar option. However, with the right guidance, you can save plenty of money while installing your solar panel. VEMC is the leading solar energy company based out of Mumbai.
In this blog, we explain how you can save big on your solar panel installation
1. Government incentives
Governments across the world are trying to promote solar energy to shift their country’s reliance on conventional fossil fuels. By providing incentives to homeowners, they make the investment in solar energy an attractive prospect. India’s Rooftop Solar Programme by the Ministry of New and Renewable Energy is one initiative to exhort residents to invest in a solar rooftop system. To put things into perspective, solar energy systems of up to 3 kW are eligible for a subsidy of up to Rs. 14588/kW.
2. Financing options
Solar financing is another feasible option for homeowners who do not want to spend a huge sum on the installation upfront. This allows them to spread out the cost of the panel over a larger horizon. A number of private and public sector banks in India are offering solar loans at affordable interest rates of around 8%.
3. Select the right solar system
Make sure you’re selecting just the right size and type of solar panel system for your rooftop. For residential homes, 3-5 kW solar panels should be enough. Also, make sure you’re choosing a good quality solar panel system that helps you save energy in the long run. Monocrystalline solar panels typically offer better efficiency.
4. DIY installation
To save on your installation labor, you could perform a DIY installation. These days, a lot of resources like guides and tutorials are available online, which homeowners can use to install their panels. However, in the case of complicated rooftop design, unsafe mounting areas, or lack of the right tools, it is always better to rely on experts.
5. Proper maintenance
Regular and timely maintenance is important when it comes to extending your savings. When solar panels are regularly inspected and maintained, the costs of sudden breakdown go down. Dust, ash, or other particulate matter can bar the sunlight shining on the panels, thus reducing their productivity. Frequent surface cleaning can significantly improve the efficiency of your solar panels.
6. Long-term financial benefits
At any rate, choosing to install a solar panel can never be a bad financial decision. As any solar installation company would explain, the average payback period for residential consumers on their solar installation is around 4-5 years. This indicates how financially beneficial solar panels are in the long run. The savings incurred on energy consumption by far exceed the upfront costs of the panels.
Investing in solar panels can seem quite daunting, given the huge cost structure upfront. However, with the right choices, you can actually maneuver your way to great savings on your panels. For more information on how to save on your solar panel installation, get in touch with VEMC on 022 43436655 or email marketing@vemc.co.in. We are the best solar company when it comes to installation, consulting and maintenance services.