A short while ago, Solar power was considered a minor source of energy. However now, Solar power is the major driving force for a cleaner and greener, and most sustainable source of energy.
So, here is the news that Now India is producing the world’s most economical or in other words the world’s cheapest solar power. This is great news for the country. Around the world, the prices of Solar power are falling and India is now producing the worlds cheapest solar power according to a survey done by International Renewal Energy Agency(IRENA)
The cost of Solar power is decreasing rapidly and now it is cheaper than coal as per the recent analysis.
As per the reports by Lazard, the cost of generating various electricity from various sources is changing.
More than 50% of the total cost of constructing solar panels in India is associated with hardware like mounting and racking and the remaining cost involves soft costs such as system design and financing.
The average prices of solar power from large-scale installation we less than one-third of that of Canada as per the survey.
The cost of constructing Solar Power in India declined by 27% in 2018 yearly. The main factors contributing to this were economically priced panel imports, abundant land, and low-priced labor.
Also, lower service and lower labor expenditure have led to a substantial fall in the investment required to set-up large-scale solar power installations. From 2010 to 2018, the setup costs of Installation of Solar power projects in India fell by 80%, the steepest decline of any country.
So what are the benefits of this? What benefit we will achieve since the country has to produce the world’s cheapest solar power?
- Solar power means lower electricity bills:
Installation of Solar power panels on your rooftop will reduce your dependency on main electricity as the power generated by your solar power system will be used by all the electric appliances and your electricity bill obviously will decline. Solar energy is proving to be more efficient and cost effective for home as well as commercial establishments.
- Net Energy Metering will support you:
Net Energy Metering allows the customer who generates their own electricity to sell the excess power generated by solar power plant back to the grid. Please note that the policies of NEM vary from state to state hence please check with your Solar Power company for more explanations.
- Your Home value will increase:
This is another reason for you to go Solar. Installation of Solar Power will prove to be a safe and wise investment and you can continue reaping the benefits of Solar power for the next 20 to 25 years.
- Solar energy creates healthier air:
Solar energy is clean energy which creates that is generated from sunlight therefore it does not damage or pollute the environment.
- Solar panel power installation is economical:
Though the installation of Solar power comes for a price however once the installation is successful, the Solar Panel Power serves you for the next 20 to 25 years, and eventually the cost of Solar Panel power is paid off.
- Solar Power is inexhaustible and is auto-renewable:
Since Solar Powe is derived from Sunlight, the energy is inexhaustible and renewable as compared to another conventional energy resource like coal, oil, gas or nuclear power which are exhaustible and is not renewable.
- Solar energy is non contaminating:
Solar energy does not release any toxic substance into the environment which can be damaging to the environment, human beings, and animals. Air contamination also triggers health-related diseases like heart diseases, cancer, and even respiratory diseases like asthma. Similarly, Solar energy does not contaminate water thereby endangering the lives of aquatic animals.
- Solar energy is competitive
Solar energy specifically wind and photovoltaic energy are economical as compared to conventional energy resources like coal, gas or nuclear power. Innovation and economics of scale are resulting in renewal energies making it more sustainable than any other source of energy.
- Solar energy provides Light:
Solar power provides light that is converted into electricity through photovoltaic solar panels. Photovoltaic panels are made by a group of cells or solar cells converting lights (photons) into electrical energy(electrons)
- You receive state and federal incentives:
Solar energy is cost-effective at the same time residential and commercial establishments receive government subsidies in the form of state and federal incentives. Please contact your Solar energy consultant for more details on this.
- Solar energy can be used anytime of the day and at any weather:
Yes, solar energy can be saved and can be used at any time of the day. You can also save and use solar energy at any time of the season. Like you can save solar energy for a rainy day.
Conclusion:
Solar panel power provides the energy that is clean, green, and inexhaustible at a very economical price without causing any harm to our environment and to our future generation.