Benefits Of Rooftop Solar Panels In India

Lack of relevant information and awareness about the benefits of going solar are major bottlenecks in the rapid adoption of rooftop solar in india.

Benefits of rooftop solar panels in india. Up has the seventh largest installed rooftop solar power generation capacity in india. Solar panel subsidy in keralafor group housing society projects and residential welfare associations with a capacity up to 500 kw the center will provide a subsidy of 20. It is among one of the very few goods in india that comes under 5. The indian government has an aim to reach rooftop solar energy capacity to 175 gw giga watt and to install 100 gw solar power capacity in various districts of india by end of 2022.

The tariff rates for rooftop solar in comparison to industrial and commercial tariff rates are cheaper by 17 and 27 respectively. Program for rooftop solar in india. The biggest advantage of installing rooftop solar panels is that they offer cost savings. Solar renewable energy credits srecs and net metering are two key benefits of solar that allow you to earn bill credits or even extra cash as your system produces electricity.

While the indian government has planned to provide 30 subsidy for rooftop solar panels installation for residents but spreading awareness about the government s. Lack of standard products procedures and the absence of easy financing options from banks has. This in return allows the user to claim tax benefits on the value depreciated in a given year. Solar panels can be utilized to transform a part of your house s electricity to decrease your dependence on conventional power origins.

Expansion of rooftop solar on government buildings while many state governments have demonstrated an intent to make it mandatory for all public buildings to have rooftop solar panels progress so far has been limited. Apart from that the basic custom duty on solar cells being used in manufacturing in india is 0. The solar rooftop systems fall under 5 tax brackets. People end up paying high power tariffs because they are not comfortable incurring large upfront cost of buying solar panels and other equipment.

Rooftop solar installations are also attaining grid parity in many residential sectors of india. The other major benefit of installing solar power is that the government is actively promoting this form of clean renewable energy. Due to the strong push by national and local governments the solar energy. As a result there are several subsidies and schemes declared by the central as well as state government for those that adopt solar power.

It is the most attractive tax rate that government renders. Increase your home value.