The government of India is promoting solar power as a cornerstone source of energy in the renewable energy mix on a massive scale. Favourable policies, solar subsidies and tax benefits (accelerated depreciation) have amplified the advantages of solar for domestic solar manufacturers, solar panel installers and end consumers of solar. Let’s dive deeper into each aspect and discover how solar is a great investment.
Long-term Benefits for You and the Environment
The answer to whether or not solar is the right decision for you can be found in the long-term advantages of solar. And in all these cases, it seems “Going solar” is indeed a smart way forward. Solar electricity is good for the environment primarily because solar power generation doesn’t emit very high carbon emissions, thus helps fight climate change and our dependence on non-renewable energy sources, like coal.
Most solar installation companies in Gurgaon, Delhi and other parts of India offer higher efficiency solar systems that help homeowners produce power for themselves and make them energy independent and take less or no energy from the local grid. As a result, you reduce or eliminate your energy cost and maximise savings in the long run, especially considering the government subsidies for home solar. Another great advantage with solar PV systems is that they are easy to maintain and come with manufacturer’s warranties, thus becoming a great value addition for homes.
United Steps Towards a Better Future
From the time India committed to take stronger climate change mitigation measures under the Paris Agreement, the government has introduced several tools and policies to encourage the quicker adoption of solar. The endeavour is to create a clean energy future where the citizens can reap numerous environmental and economic benefits of solar systems.
The Union Budget 2022-23’s announcements objectively factor in the emerging requirements of India’s renewable energy sector and aim to help it become more self-reliant and competitive. By further increasing funding in the Production Linked Incentive (PLI) program, the government intends to enable domestic solar manufacturing through fully-integrated units. This will end India’s reliance on solar imports and can even make India a key solar exporter.
The imposition of Basic Customs Duty from April 1st, 2022, is going to be another gamechanger in the country’s efforts to strengthen domestic solar manufacturing. Though, in the short term it will make solar a bit expensive, but when domestic solar manufacturing hits economies of scale, it will be beneficial in the long run. By levying a high import duty of 40% on solar modules and 25% on solar cells, the domestic solar industry will be safeguarded against the cost competition from the solar imports and have a supportive ecosystem to grow. It’s expected that the cumulative effect of these efforts will also bring down the cost of solar systems for the end-users in India in the long run.
Adopting rooftop solar for homes is easier and more accessible with the simplified rooftop solar scheme by MNRE. Homeowners will now have the freedom to select solar equipment and to have solar power companies of their choice do the installation. Also, applying for solar subsidies is much simpler with the new online process upon which the consumer directly receives the subsidy payout in 30 days in his/ her account.
You can do your part in building a green future for India by installing your own home solar power plant in Gurgaon or anywhere in India. HomeScape by Amplus Solar is a solar installation company serving in Delhi, Gurgaon and several regions of India and is committed to helping homeowners make a smooth and highly beneficial solar transition. Our award-winning innovative residential rooftop solar designs not only saves you money but also adds beauty to your home.
Contact us to empower your home with its power-generating system today.