Rooftop Solar Power Plant Benefits
The major benefit is obviously minimizing the electricity bill. However, there are many other benefits of rooftop solar power plant that you should know about.
Central Financial Assistance (MNRE Subsidy)
According to the latest notification by MNRE subsidy of 30% on Benchmark Capital cost is available for all consumers including the following consumer categories: Residential All types of buildings, Institutional Schools. Health institutions, Medical colleges, Hospitals. Educational institutions, R&D institutions. Government Both Central & State Governments Buildings, All Government offices, Government PSU. All buildings owned by Govt directly or by any Govt.-owned societies. Companies, corporations or organisations. All Panchayati Raj buildings. Government organisations owned systems Private, commercial and industrial organisations.
Return on investment – ROI on Solar
Residential and Commercial customers who are paying more than 1,500 in monthly electricity bills should consider installing a grid tied solar net metering system to save their electricity bills by 20% – 30%. Look at the ROI Calculator below for details.
Note*: This is an approx estimate, Cost may vary
|KW||Cost (Rs)||Subsidy||Final Rate||Units (Month)||Savings (Month)||Payback Period|
|1 KW||75,000||20,000||55,000||120||960||4.5 Years|
|2 KW||1,40,000||40,000||1,00,000||240||1920||4.5 Years|
|3 KW||2,10,000||60,000||1,50,000||360||2880||4.5 Years|
|4 KW||2,50,000||80,000||1,70,000||480||3840||4 Years|
|5 KW||3,20,000||1,00,000||2,50,000||600||4800||4 Years|
|10 KW||5.80.000||1,74,000||4,06,000||1440||11,520||3 Years|
Net Metering Benefits
In grid-connected Solar Photo-Voltaic (SPV) systems, solar energy is fed into the building loads that are connected to the public electricity grid through a service connection with surplus energy being fed into the grid and shortfall being drawn from the grid.
Production of surplus energy may happen when solar energy produced exceeds building load energy demand. This surplus is fed into the grid. During the night, or when during the day energy demand in the building exceeds solar energy production, energy is drawn from the grid. Net metering is the net energy between export of generated energy and import of grid energy for a billing month.