Solar Energy can offer amazing returns on investment. But, how much profit will you make from investing in a solar power system? This is the question that many people ask themselves when they first hear about solar energy.
Solar Energy has the amazing potential of offering you a lot of advantages in saving huge costs. As compared to electricity grids, it is quite a substantial solution that gets you electricity at almost half of the cost. If you set up a solar energy plant in a country like India, you can avail up to 8-12% of ROI every year during the payback period of 8-11 years.
ROI: Savings You Can Get From Solar Energy
- Saving Costs on Electricity Bills
The electricity costs are increasing year by year as DISCOMs are finding it quite tough to meet the energy demand of the growing population. By investing in solar energy, you can significantly cut down on your electricity consumption thus reducing the billing burden off your head.
- Net Metering to Get Rebate on Electricity Bills
Net Metering is a concept where the government pays you back by drawing excessively generated electricity from your solar power plant. In the case when your energy generation is low, the government also covers it up by offering you electricity from the grid. At the end of the settlement cycle, you get savings on your electricity bills based on the difference of energy between what you have drawn from the grid and what your plant has generated.
- Get Electricity For Free After Several Years
Once you cover up all your upfront investment costs and capital expenditure in the period of 8-10 years, you get the benefit of utilizing energy for free without worrying about bearing any additional costs. It may just require minimal maintenance costs to make your plant get running with higher efficiency.
