In the present times, the world is rapidly adopting renewable energy. India is also emerging as a major producer of renewable energy in the global arena. In its efforts to move towards sustainable development, the government has set a target of achieving 175 GW of installed capacity renewable energy by the end of 2022. Of this, 100 GW is the target set for solar installations.
So far, 23 GW of this target has already been achieved and 40 GW is under various stages of implementation. This inclination towards solar production has allowed India to dominate the US and become the second largest country in terms of solar power production in the world. Now, the country is moving towards achieving the targets set for the year 2022.
Although large-scale installations account for 87 percent of solar power generation, the rate of adoption of solar rooftop panels is accelerating today. The installed capacity of solar rooftops increased from 117 MW to 1250 MW in the period between 2013 and 2016. Keeping this huge growth in mind, the Ministry of New and Renewable Energy through its National Solar Mission of India has set a target of 40 GW of power. Through rooftop solar by 2022. Although this goal may seem ambitious, it is still achievable. There are a number of reasons that add to the benefits of installing solar rooftop panels in buildings:
They provide cost savings
The biggest advantage of installing roof top solar panels is that they offer cost savings. The tariff rates for rooftop solar are 17% and 27% cheaper than industrial and commercial tariff rates respectively, roof top solar installations are also achieving grid parity in many residential areas of India. Rooftop solar installation can also help reduce electricity bills for building owners. Rooftop panels supply electricity to buildings, so they need to buy less electricity from the grid, saving energy costs.
It is a safe investment
Electricity prices fluctuate from time to time. Therefore, it is difficult to calculate the expenditure on electricity for a given period. However, when it comes to electricity generated from solar roofs, the cost of electricity generated can be calculated easily. In fact, one can also calculate the cost of electricity generation for another 10 years. As such it is a safe investment.
It increases access to energy
Although the power shortage in India is decreasing rapidly, there are many people in both rural and urban areas who have improper and unreliable access to electricity. These people are forced to depend on alternatives like diesel generators. These alternatives have a detrimental effect on health and they are unstable in terms of their operating costs. In such a scenario, solar energy acts as an economical source of electricity. Since rooftop solar panels use the power of the sun to generate electricity, they are environmentally friendly. In addition, the cost of their operation is also constant.
Support from the government
To encourage people to adopt solar energy, the government provides tax credits to those who install rooftop solar panels, be it for residential or commercial purposes. According to the Ministry of New and Renewable Energy, the government pays 30% of the installation cost as a subsidy to the installers.
Reduces carbon footprint
Solar panels use sunlight to generate electricity. Therefore, they pose less pollution risk to the environment than conventional sources of energy. Unlike a generator, they run without any noise and emit less harmful gases. In addition, it is a good source of energy that combats climate change. Thus, rooftop solar is ideal as it reduces carbon footprints.
Green energy source
This is an era where more and more people are adopting eco-friendly items. Consumers, especially industrial and commercial consumers, are willing to invest capital to contribute to the protection of the environment. Eco-friendly customers are willing to pay even more than grid power.
Low maintenance cost
The main factor that increases the importance of rooftop solar panels is that they require very little maintenance. If properly maintained they come with a service life of over 20 years.
Suitable for Indian Climate
Rooftop solar panels use sunlight to convert it into electricity. India is situated in an ideal geographical position and receives ample tropical sunlight. India has about 300 sunny days every year with clear skies. Thus, rooftop solar panels are ideal for use here.
Many applications of solar energy
Along with producing electricity, solar energy can serve many other purposes as well. It can be used to heat water and to deliver hot water or air to a building. It can also be used to run an electric generator.
It does not require extra space for installation
One of the biggest advantages of rooftop solar panels is that they can be mounted on any type of roof. So people do not need to clear land or buy additional land to install rooftop solar panels. In addition, the panels provide protection to the roof of the building in which they are installed.