Even though the recent revision of the Maharashtra Electricity Regulatory Commission (MERC) tariff has slashed the price for power distribution companies, what does it mean for the solar energy sector? Is it still a good investment?
Earlier, the Maharashtra State Electricity Distribution Company Limited (MSEDCL) had proposed that a considerable grid support charge should be added to net metering rooftop solar systems which have a capacity of over 10 kW.
Well, the good thing is that despite the looming possibility of solar power prices to rise amidst the coronavirus pandemic, the Commission decided to NOT levy any support charges to on-grid solar system installation on rooftops. This will hold until the total rooftop solar photovoltaic module capacity of the state reaches 2 GW.
The fact is that the decision was taken against the regulatory mandate to impose grid support charges in an attempt to reduce additional tariff burden on non-solar consumers. An additional banking charge has also been approved that includes an energy adjustment of 7.5% for HT and 12% for LT of the excess generated energy which will be fed back into the grid.
Also, the commission has exempted additional fixed charges behind the meter rooftop solar to ensure that such installations are registered primarily for grid security.
These latest changes, indeed make both off-grid solar system and on-grid solar system a good investment option. Plus, you have Vijay Engineering and Machinery Company to provide you with the best solar solutions and maximise your savings.