Benefits Of Rooftop Solar Panels In India

For example you can establish the best solar panel in india to render electricity simply for devices or lighting to decrease your dependence on the service company and reduce your money.

Benefits of rooftop solar panels in india. Solar panels can be utilized to transform a part of your house s electricity to decrease your dependence on conventional power origins. 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. 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. This in return allows the user to claim tax benefits on the value depreciated in a given year.

In these scenarios you are being compensated for the electricity that your solar panels generate. While the indian government has planned to provide 30 subsidy for rooftop solar panels installation for residents but spreading awareness about the government s. People end up paying high power tariffs because they are not comfortable incurring large upfront cost of buying solar panels and other equipment. Lack of relevant information and awareness about the benefits of going solar are major bottlenecks in the rapid adoption of rooftop solar in india.

As a result there are several subsidies and schemes declared by the central as well as state government for those that adopt solar power. The other major benefit of installing solar power is that the government is actively promoting this form of clean renewable energy. The tariff rates for rooftop solar in comparison to industrial and commercial tariff rates are cheaper by 17 and 27 respectively. Up has the seventh largest installed rooftop solar power generation capacity in india.

The solar rooftop systems fall under 5 tax brackets. It is the most attractive tax rate that government renders. 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. The accelerated depreciation benefit allows the commercial and industrial users of solar power in india to depreciate their investment in a solar power plant at a much higher rate than general fixed assets.

It is among one of the very few goods in india that comes under 5. The biggest advantage of installing rooftop solar panels is that they offer cost savings. Increase your home value. Lack of standard products procedures and the absence of easy financing options from banks has.

Program for rooftop solar in india. Apart from that the basic custom duty on solar cells being used in manufacturing in india is 0.