India is a country focused on progress. The recent initiatives, policy reforms, and growing investment towards promising sectors like Green energy testify the country’s intent. Although demand for rooftop solar has witnessed depression due to COVID-19, this is the right time to go for Rooftop solar as this industry has the capacity to reduce our electricity bills and has the potential to lead job growth and economic stability post-COVID-19.
With Hon’ble Prime Minister Shri Narendra Modi’s village electrification initiatives, promoting rooftop solar would reach energy to every household in India (70% of the country’s population residing in rural areas). Government of India understood the capability of rooftop solar plants to electrify rural India and has made efforts towards rooftop solar development, showing 72-113% growth/year since 2015.
With the world looking for the best bet to stabilize the economy and solve the energy crisis, it is the right time to opt for rooftop solar and promote rapid solarisation, taking advantage of falling prices of PV equipment and technology, and growing investor interest towards solar.
Why You Should Go For Residential Solar
Although the scenario urges us to focus on current necessities, we must look towards building a sustainable future by making responsible and decisive decisions. In the same line, it is important to note that the Residential rooftop solar solutions could typically save up to Rs 50,000 annually for 25 years. Global warming and COVID-19 both have eerie similarities in the way they will affect our way of life and future.
Therefore, the demand for green energy will also grow with rising environmental awareness. In the last couple of years, the state Governments in India have been successfully installing rooftop solutions in Government offices and schools and have supported installations in the residential sector as well.
Government support and increasing investment in solar PV (in India), which exceeded coal in 2018, have made the rooftop solar sector promising for investors and consumers.
Also, initiatives like- 2nd phase of grid-connected rooftop solar program, offering 25-30% capital subsidy to Public segment, APEPDCL approving the DISCOM-driven solar rooftop PV program, using RESCO model to encourage solar adoption in the Corporate sector, offering financial assistance through SRISTI, Planning “rent a roof” policy have aided in the progress of rooftop solar.
Rooftop solar may, in fact, be the key solution to the overarching joblessness that COVID-19 has brought forward. Germany discovered by 2008 that the solar industry had created more jobs in that country than even the automobile and engineering sectors. If India were to follow in the same footstep, it will do so with natural advantages of having more sunlight, more people, hence more families, and houses than Germany.
New Innovation and Technology: It has become clear that both coronavirus and climate change share common elements. Understanding this urgency and following its already existing inclination towards green energy adoption initiatives, India is expected to invest in a massive transformation of energy infrastructure, housing and transportation systems through renewable energy. Thus, making now the right time to opt for rooftop solar.
Subsidy Benefits: Subsidy is only available on Residential Homes to disburden the residents of upfront costs of solar plant installation. Subsidy Amount for Up to 3kW plants is 40% and 4 kW to 10 kW plant is 20%. Not just that, if you install a solar system though the subsidy scheme, the solar installation company will provide 5 years of performance warranty as well.
We can also get assistance from Channel Partners to figure out the processes of getting the subsidy, which is far easier than trying to assess and acquire the solutions on our own.
Way Forward
These points clearly highlight that the current scenario has created an environment that will support rooftop solar growth, and it is high time to opt for rooftop solar plants to take advantage of this scenario and promote India’s overall growth in restoring the energy and economy.
With improved support, investment, and clarity in policies, Indian solar rooftop sector is estimated to become a 3 GW per annum market by 2020. And as the sector has the potential of creating 25 job-years per MW, focusing on Indian rooftop solar sector immediately seems to be the solution of unemployment besides energy deficit.
So, let us collectively move towards countrywide solarisation with the help of Rooftop solar.