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The solar power tariff in India has experienced a drastic fall over the last few years. In India, the total solar power generation capacity increased from 461 MW in 2011 to 6, 763 MW in 2016. Over the last few years, the solar power generation capacity has increased significantly due to the favorable government initiatives with developments in manufacturing technology of solar panels. Our Indian solar industry is expected to have double-digit growth during the next few years, due to the government’s policy to increase the share of solar power in the country’s energy mix and falling equipment costs globally.
INDIA is going to increase the share of non-fossil fuels to 175 GW by 2020, and will further take it to 450 GW : PRIME MINISTER
The high load requirement and large available rooftop area compared to commercial and domestic consumers make solar a viable alternative for industries. Often, the other incentive for many big industries to use ‘industrial solar power’ is to show increased share of renewables in their energy portfolio and meet their RPOs (Renewable Purchase Obligations). Industrial firms with captive ‘industrial solar power systems also have the option of availing tax benefits, capital subsidies and other incentives as applicable.
Various Advantages of Solar Energy There are many advantages that solar energy has to offer over traditional sources of energy like coal and oil. Not only it is completely renewable but is also protects the environment. Here are some of the advantages of solar energy. It’s a renewable resource Solar energy is a renewable source of energy as it can be used to produce electricity as long as the sun exists. Sunshine occurs naturally. As long as we are alive, we are always going to see the sun, which means it is infinite. This energy can be harnessed by installing solar panels that can reduce our dependence on other countries for consistent supply of coal to produce electricity. This makes it an attractive energy prospect for most countries that are looking to go completely green in the future. Although solar energy can not be produced during night and cloudy days but it can be used again and again during day time. Solar energy from sun is consistent and constant power source and can be used to harness power even in remote locations. It’s eco-friendly If you are scavenging the internet in search of ways to minimize your carbon footprints, solar energy is the surefire answer. Solar energy will not only help you dial back on your carbon footprint, but also oversize your systems to ensure you live in a carbon-free house. Some states in the U.S. even allow individuals to invest in other people’s roofs to create a lot more solar energy. Solar energy is an alternative for fossil fuels as it is non-polluting, clean, reliable and renewable source of energy. It does not pollute the air by releasing harmful gases like carbon dioxide, nitrogen oxide or sulphur oxide. So, the risk of damage to the environment is reduced. Solar energy also does not require any fuel to produce electricity and thus avoids the problem of transportation of fuel or storage of radioactive waste. Cuts back on electricity bill One of the most interesting things about solar energy is that it can help you minimize your annoying utility bills. You can accomplish this by installing solar panels in your home. Solar energy takes up energy consuming activities like heating water and heating homes. Solar energy has the potential to save you up to 20% of your energy costs, even after financing costs are factored in. And with the ever rocketing of electricity costs, you could save up to $60, 000 in the next 30 years. Can enhance the value of a home If you are looking to sell your home in the future, suffice to know that installation of solar technologies can significantly increase its value. This especially manifests in areas where buyers are more likely to buy a home installed with solar panels like high populated cities where environmental degradation is taken seriously by the authorities. According to research findings, solar panels can add up to $20, 000 to the value of a house. This figure represents the amount required to install a solar panel, which means you will be able to recoup your money when you sell the property. That represents a bright investment in your property. Requires little maintenance The cost of installing a solar panel can be high. But once it’s up and running, you will enjoy the benefits for many years, while injecting just a small amount for its maintenance. If your energy needs change and you desire to add more panels, it would be a lot easier. Initial cost that is incurred once can be recovered in the long run that range from 10 years – 15 years. Apart from this, solar panels does not create any noise or release any toxic substances. Easy Installation Solar panels are easy to install and does not require any wires, cords or power sources. Unlike wind and geothermal power stations which require them to be tied with drilling machines, solar panels does not require them and can be installed on the rooftops which means no new space is needed and each home or business user can generate their own electricity. Moreover, they can be installed in distributed fashion which means no large scale installations are needed.
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