Rooftop solar panels bring in multiple gains

Source:https://www.xenius.in/rooftop-solar-panels-bring-in-multiple-gains/

Even though solar energy is gaining currency in developed nations at a rapid pace, it may take years to replace coal as the primary source of energy. Considering various domestic factors, it is essential to encourage the use of solar energy in the country. And with the host of benefits they offer, rooftop solar panels are a potential method of heading towards that goal.

Climate change has engulfed the entire world. The main reason for this is the constant burning of fossil fuels like coal and oil, and thereby, the emission of harmful gases into the atmosphere. A whopping 72 per cent the total electricity generated in India is produced by coal, which is huge in comparison to the world percentage of coal-generated electricity at 40 per cent.

While developing countries prefer low-cost energy sources like coal for energy generation, the rest of the world is looking up to renewable sources of energy to combat the problem of climate change. The International Energy Agency (coking coal) has estimated that the percentage of electricity generated from solar energy will grow from the current 9 per cent to 24 per cent by 2040. Even though the 15 pc growth in electricity generation from solar energy is impressive, it will still be impossible to replace coal as the primary source of energy completely.

• Even though the 15 pc growth in electricity generation from solar energy is impressive, it will still be impossible to replace coal as the primary source of energy completely. 
• According to the Ministry of New and Renewable Energy, the Government also pays 30 per cent of the installation cost as subsidy to the installer.
• Solar installations not only helps in cutting down electricity bills, but also in generating more electricity, selling it back to the grid and making money in the process. 
• Because of the Government’s backing behind it, solar energy is a reliable source to invest in. As against fluctuating electricity tariffs, solar panels offer certainty and predictable pricing.

India is the second largest producer of coal in the world after China. But 87 per cent of India’s coal reserve is non-coking, which means it will have to import coking coal from other countries. This will not only be damaging for the trade deficit of the country but also for the residential. In view of all this, a substantial increase in the use of solar energy becomes essential in our country and installation of rooftop solar panels can yield positive results in that direction. There are multiple factors that encourage people to use solar panels at rooftops:

Government support: The Government offers tax credits to those who install rooftop solar panels whether it is for residential purpose or commercial. According to the Ministry of New and Renewable Energy, the Government also pays 30 per cent of the installation cost as subsidy to the installer.

Reduced bills: The tariff rates for rooftop solar panels for residential use are 17 pc and 27 pc less than those for industrial and commercial uses respectively. Moreover, solar installations not only helps in cutting down electricity bills, but also in generating more electricity, selling it back to the grid and making money in the process.

Sustainable source: Solar panels installed at a premise give a sense of environmental responsibility to its owners. They prove to be a great motivator for environmental enthusiasts.

Low maintenance: With their sturdy built, solar panels do not require regular maintenance. They can last even up to 20 years with zero maintenance.

Reliable investment: Because of the Government’s backing behind it, solar energy is a reliable source to invest in. As against fluctuating electricity tariffs in the country, solar panels offer certainty and predictable pricing for future years too.

No extra space: Solar panels can be installed on any type of roof. One doesn’t need to vacate any extra piece of land or invest in buying additional land to set up rooftop solar panels.

The Government has ambitious plans and schemes to push the use of solar energy but with the economy growing at a rate of 7 per cent, the demand of electricity is set to rise even further in the near future. The dependency of industries on coal can be reduced only when solar energy becomes a reliable and affordable alternative to thermal power.