Energy is a scarce resource, the cost of which is rising every year, it becomes necessary for commercial setups and individuals to shift to a source of energy that can be harnessed without the source getting depleted and at the same time without having an incremental impact on the overhead costs. Opting for solar as a source of energy, the above mentioned requirement can be met.
Save Tax: Accelerated depreciation benefit of 80% is allowed in 1st Year on investments in solar power projects.
Avail Subsidy: MNRE provides 30% subsidy on solar power projects for captive consumption through accredited channel partners such as Gautam Polymers.
Value Your Environment:Solar as an alternative source of energy, aids protecting the environment from global warming. A 100KW solar plant can save approx. 10 lac ltrs. of diesel and approx. 3750 tonnes greenhouse gasses being emitted into the atmosphere.
Estimated Payback:The estimated payback period of a solar project is 2 to 6 years depending on your existing cost of energy. Thus it generates costless electricity for the balance life of the project.
Generation Of electricity:Setting up a 100KWp plant, it generates over 400 units a day. Per unit cost of electricity being Rs. 7 that shall remain constant for next 25 years.
Rise of Electricity cost generated from conventional sources is increasing:Annually, the electricity cost rises at approximately 5% and diesel at 7.5%. Thus, the ever increasing cost of electricity & diesel combined with shortage of power for industry makes it a compelling proposition for industry to switch to solar.
RESULTANT: Setting up a solar plant benefits a commercial set up with the following:
Tax saving Fixed cost of clean energy for 25 years Lowering the dependency on grid connected source of energy Insurance against ever increasing source of energy Fixed overhead cost leading to low operating cost.
Viewing the kind of benefits that solar has in a long term perspective, it becomes imperative for commercial set-ups and individuals to consider solar as an important investment option that could reap long term benefits.
Demand for energy multiplying itself and the pace of generation of the same being much slower. It becomes necessary for commercial set ups and individual to switch to a much viable source of energy that does not deplete and the cost of which remains constant over the years.
Upfront cost of setting up solar plant being supported by government, one can save up-to 50% of the initial cost and fix the cost of energy for next 25 years.