Wednesday, February 19, 2020

Benefits of Solar Power for Home, Hospital, Industries And Farming.

The energy sun provides to the earth for one hour can meet the global needs for one year. Sun being the most powerful source still we are unable to collect a fraction of this energy, but we can harness this power by installing a solar power system and create a drastic difference to the planet.
Solar Power Systems will derive pure, clean energy from the sun. Installing solar modules helps to combat greenhouse gas emissions and reduces collective dependence on fossil fuel.

Below are the few solar power system advantages:

1. Electricity Savings

Installing the solar power system at your factory or industrial premises will eliminate or reduce the concern related to electricity bills. How much you will save on the electricity bill will depend upon the grid electricity usage and size of the solar power system. It also encourages a possibility to receive payments for the surplus energy that you export back to the grid. Using solar modules instead of depending on a DISCOM can help you cut your electricity bill by up to 50% per month.
  • Around 100kw plant will provide 400kwh/day units which will save 13 lac rs/yr approximately
Net metering facility can help you export the solar generated surplus energy to the grid. It plays an essential role in factories and industrial areas where electricity usage is not uniform or continuous. To read more about net metering, click here

2. Green use Environment and Carbon Dioxide Reduction

The higher you use electricity generated by fossil fuels the, more you are increasing air pollution, especially in industries and factories, there is a lot of electricity consumed which is mostly not created by renewable energy. Hence installing Solar power system would be a smart and better decision as you are highly saving on your electricity bills and also the same time promoting green and clean energy.
It does not use any chemicals, fossil fuels, to develop electricity and hence don’t release harmful gases into the environment. Utilizing solar energy instead of the grid also leads to the reduction of carbon dioxide production.
Solar power systems at industries act as highly sustainable and green energy choice which motivate towards a substantial environmental impact that you would be making moving to a greener and cleaner source of energy.

3. Cleaner and Cooler Roof

The solar power system reduces the amount of heat reaching the roof by an incredible 30%, keeping a building’s roof 5 degrees cooler than portions of a roof exposed to sunlight directly.
Solar power systems offer clean and safe energy to reduce the cost of cooling in the summer. Still, they keep your top floor and industrial roofs clean & cool by reflecting and absorbing a lot of the renewable energy from the sun.

4. Accelerated Depreciation Results in Tax Savings

Government of India is promoting the solar power system in Businesses, corporate and industrial sectors through tax relief under section 32 of income tax act by allowing them to avail higher rate of depreciation rate more often termed as Accelerated depreciation benefit.
The accelerated depreciation allows the industrial user of solar power to depreciate their investments in a solar power plant at a higher rate compared to their fixed assets. In return, this allows the user to claim tax benefits on the value depreciated in a given year. The depreciation rate for all renewable energy systems is 40%.