Moving To Gurgaon? Here’s Why You Should Plan For A Solar Panel

Installing solar power systems can reduce energy costs, reduce carbon footprints, and possibly increase home prices for homeowners. The size of the advantages might differ greatly from home to home, and these advantages typically come with a high installation and maintenance expense.

Solar energy costs for homeowners

Let’s start by examining the price of installing solar panels in Gurgaon. A domestic solar panel installation in Gurgaon typically costs between Rs. 3,500 and 40,000 upfront.

Why is the pricing difference so wide? That really depends a lot on the size of the system you want and the kind of panels you use. Whatever system you choose, keep in mind that the high upfront cost of solar energy is the primary cause of Gurgaon’s solar panel pricing.

Additionally, there are some expenses. Additional components needed for installation include the inverter, which changes the direct current generated by the panel into the alternating current used by home appliances, metering equipment, a number of housing components, cables, and wiring equipment.

Some homeowners also think about battery backup. In the past, if the utility was paying for extra electricity that was supplied to the grid, batteries were both costly and superfluous (see below). It is also necessary to include the cost of labour for installation.

A PV solar array requires specific additional charges for maintenance and operation in addition to installation fees. Inverters and batteries (if fitted) typically need to be changed after several years of use and routine panel cleaning.

How much money will you save?

If you are aware of how much a solar power system will cost upfront and how much electricity it will generate, you may (theoretically) estimate how much you can save annually on energy expenditures.

However, since the amount relies on how much you pay for electricity, this is another difficult estimate. Utility providers typically impose a flat fee on residential customers regardless of when electricity is used. This suggests that Gurgaon homeowners’ solar systems only cover the cost of the electricity they are charged, which is far higher than the average cost of power generation and much closer to the exorbitant cost of peak electricity production.

Depending on the precise timing and extent of the rate reductions, a plan like this may or may not be advantageous for a single homeowner. Because of seasonal consumption patterns, several places have utility price plans that change throughout the year.

Solar electricity is more appealing during the summer when prices are higher. Through tiered pricing, some utilities adjust the marginal price of power as usage increases. Installing solar systems in Gurgaon may or may not be advantageous depending on how much electricity is utilised in the home under this kind of arrangement. Large homes (with high energy demands) may stand to gain the most from solar arrays that balance out costly marginal consumption in locations where rates rise sharply as consumption increases.

Does solar energy make money?

You’ll likely reach a single number after making all of these calculations; this number is the number of years it will take for a solar system to pay for itself in energy bill savings. In five years, a system might reach this stage if your present utility expenses are high and you live in a sunny area of the country. Another homeowner may need ten or twenty years to reach this stage.

To put it another way, it may take a few years, but eventually, most households will profit from a solar energy system. As a result, whether it is advantageous to instal such a system frequently depends on a number of considerably less technical variables than those we’ve described above: how long you want to remain there, the installation’s financial advantages, and your desire to contribute to environmental protection.

Are solar panels actually economical?

Depending on where you live in Gurgaon, the system will definitely pay for itself and then some. This is due to the fact that your power statement will have lower electricity costs. You might be able to cut your costs further if net metering is allowed.

What is the price of a solar panel?

Over time, prices have been continuously declining. The amount of power your array can produce will determine the total cost of the system. Consumer Reports estimates that the price of solar panels for a typical-sized home in Gurgaon will range from Rs. 8,000 to 25,000 in 2021 after accounting for solar tax advantages.

It may be challenging to decide whether to build a PV solar system, but it’s crucial to keep in mind that this is a long-term commitment. Purchasing solar energy makes financial sense in many places.

Even though solar energy has been proven to be slightly more expensive than electricity from a utility, homeowners may choose to instal solar power because they desire to live more sustainably rather than solely for their own financial gain.