Why go Solar
Everybody is talking about it. Solar Energy. Everyone knows that it is beneficial to the environment. It is also financially better. TheSolarLabs, or theLabs was created by passionate solar entrepreneurs to communicate the benefits of solar energy to the world.
In this article, we shall take a deep dive into why we all should adopt solar as soon as possible.
1. Solar power is cheaper than grid power. Period.
a. The sooner you adopt solar, the sooner you start saving.
b. This happened in 2012 for many Indian states. If you haven’t got solar yet, you are missing on benefits you can get right now.
c. The best time to go solar was yesterday.
2. Be the leader, get the solar bragging quotient
a. People across are adopting solar as a means of cheaper and greener energy! These people will pay about 70% less for the same energy you are consuming.
b. Be the visionary in your vicinity, adopt solar and leave your neighbors behind.
3. Reduce your electricity bill
a. Utility prices are rising year on year about 7–8% over the last 7 years.
b. Solar is the best investment for now
c. Even purchasing a solar system on EMI is cheaper than
4. Now is the best time to go solar.
a. You might be thinking that with dropping solar panel rates, it might be more economical to adopt solar next year.
b. Doing that will make you miss out on solar benefits right now. The benefits are much higher than the rates decreasing.
c. Benefits now > Lower cost tomorrow
5. Increase savings
a. Every rupee saved is a rupee earned.
b. Have your child take those extra dance lessons, use the savings for that Singapore trip you always wanted to go on.
6. Shifting no problem. Solar panels increase your home value.
a. A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for more money.
b. So even if you may move, the solar PV system will be sold with it and you will get paid more for your house than what you paid for the system.
7. Solar is the gift that keeps on giving
a. The system will provide electricity for 25 years!
8. Help the Indian economy
a. Solar creates a multitude of jobs; in business, technicians, engineering, installation and manufacturing. An increase in the Indian economy has a direct impact on each citizen. More economic activity results in more jobs, more money and a richer country. A richer India will make the Rupee stronger and you can do more with your money. More jobs also results in lesser criminal activity and agitations, making India a safer place to live.
9. Save your Health, and the environment
a. Indian cities are fast becoming unbreathable. Much of this is due to thermal power. You can be assured that switching to clean solar energy makes you the direct contributor to clean air. Feel good about going solar.
b. Installing 1 kW of solar is as good as planting 1485 trees in combating CO2 emissions.
10. Businesses can take advantage of Accelerated Depreciation, when you purchase systems.
a. For example, if your business profit is 10 Lakhs you would be charged at a 30% tax rate, paying Rs 3 Lakh as tax. But if you install a solar PV system worth 10 Lakhs, you can depreciate 80% and only pay tax on the remaining 20%.
Hence tax liability is only Rs. 60,000 now for the first year.
11. Trust the Govt
a. The Indian government has played a major role in the signing of the Paris Climate Change agreement, which was ratified by the world’s great economic and political leaders. The threat of climate change is very real. If we do not do something about it, our children will face serious consequences. Of that, there is no doubt.