In last couple of years, Solar energy has been one of the most affordable, dependable, and financially viable source of energy. The ‘green’ environmental benefits are the ones you’re more aware of, but there are other well-known financial rewards to replacing traditional coal- powered electricity with solar electricity as well. Solar power/energy is an investment where you’ve to buy solar system and install it on your home or business property. But after the initial investment, it’s just a lifetime of savings with lowered energy bills and increased property value.
1. Instant Savings
These days with new technology cropping up faster than ever, the question is not if solar saves, but how much. Due to solar panels producing utility-free electricity combined with government incentives, you’ll see your bills plummeting down and savings rise up. Whether you have bought the solar system for cash or loan, the solar electricity bill will definitely be less than a traditional utility bill. In fact, you may end up saving money instead of spending money on buying energy.
2. In- Built Savings
Every month you’ll enjoy small energy bill savings, which will quickly add up over a period of time. Depending whether it is cash or loan purchase, those savings will be seen immediately or add up to something big over time. Everyone will experience contrasting savings, due to the difference in location, sun exposure, and other factors which affect the solar energy generated. While some may get 30% savings, there may be lucky ones who get 100%.
3. Long term Savings
When you invest in a solar system, your investment will promise a return every month. Imagine this; for every month your draw energy from solar panels, you don’t need to pay to the utility company. Not only do you accumulate energy, but it will be credited to your account, a proper accounting and adjustment will be done in the form of import/export and banking. This clearly means whatever is generated extra , it will be adjusted in you peak demand, if there is something extra credit units in your account , it will be paid @ FIT rates of that year. Which ultimately means, apart from saving you may earn something for the extra units your system generated.
4. Security from Rising Electricity Costs
Electricity costs make a large part of your overall budget. Production of electricity is reliant on fossil fuels such as oil, coal and natural gas, which are susceptible to unstable and unpredictable foreign markets. When you switch to solar, you’re hedging yourselves against steadily rising electric rates. You can ensure, fixed & predictable electricity rates for years to come.
5. Generating your own Electricity
With the installation of these solar rooftop system you will be generating the electricity demanded / required by you. These systems generate electricity as per your requirement and will run all the appliances of your home. There is no need of any battery bank because, here the grid itself is working as a bank , you generate your electricity – sync it with the grid – deposit if anything is extra and take it back as and when required.
Besides helping the environment, one of the biggest reasons to go solar is reducing or eliminating your electric bill significantly. How much you’ll save depends on how much energy your solar system generates and how much of you consume. Solar installed homes will still draw power from the utility grid. However, apart from direct benefits there are few indirect benefits also which can also be considered. UrbanUrja also has a wide range of On-Grid Solutions and Products that you can buy and get installed at your property and start enjoying all the benefits! Check them out too.