Investing In Solar Power Is Better Than Putting Your Money In The Bank
Independence is great. But, in a democracy, especially one like India, we experience it in fragmentation. Before you jump to conclusions about what I’m about to say, let’s, ermmm….explore independence as one of the basic human needs.
Energy is a basic human requirement as well. We need it to run our gadgets, vehicles, buildings, and most things we interact with in our day-to-day lives.
But, when was the last time you experienced a drop in your fuel or electricity prices? Assuming you are a resident of our Earth, the answer to that question is most likely lies in the Never Have I Ever category. Alas, you sure might be contributing to the global energy crisis. Right. Then, are you really independent in its complete sense? (Read More: “Homes that can solve the huge energy crisis”)
Here’s how you can turn things around for yourself by making a smart investment that will safeguard you from soaring energy costs.
You save and you save. But, at what rate?
In India, putting your savings in a bank gives you returns at 7 to 8%. By investing in solar you can increase that number by 40% at the very least, reaching up to 80%.
The rate of return on spending your money in solar is 12 to 24 % based on the size of the solar energy plant and the regional DISCOM tariff. (Read More: Solar Coin is a reliable cryptocurrency and a potential monetary incentive)
Apart from a higher rate of return, you are insulated from hikes in electricity prices and are tagged as a responsible citizen for using a clean form of energy.
You make savings on your — utility bills, wallet, and the environment.
With the central and state governments making it easier and affordable for people to make the switch to solar, this is definitely the time to get ahead of the curve.
While total energy independence might not be the end point of adopting solar power, it is strong starting point to living the dream of absolute independence.
While questions loom around the credibility and safety of your money in the bank, solar energy is now simple, reliable and profitable.
Let’s make financial investments great again.
Written by Aravind Kannan