We’ve been talking about the benefits of switching to the renewable and perpetual source of energy that is solar for quite some time. If you’re still struggling to find why you need to go solar, check out this piece.
For this article, we’re going to explore the benefits of grid-tie solar system and tell why they’re the best suited for your needs and how exactly you can use them for your savings.
Benefits of grid-tie solar system summed up
A utility-free production
With your grid-tie solar system comes energy independence and energy security. But the most obvious of all the advantages of having your energy setup is to have a continuous supply of utility-free energy. You now don’t have to worry about not using a select few appliances meant to cut down the figures on your bill by the utility company.
Long term savings
With you ending up saving some amounts each month, you’ll soon be able to save enough over a period. Depending upon your location, you might be saving anywhere from 30% to 100% on your energy bills. What’s better is if you’re a financial planner, you can divert this saving to any multiplying investment.
Sell your electricity to the utility company
If and when your home ends up producing more than that your household needs, this extra power is routed to the grid. You can have a monitoring of the usage and additional production of power by Net Metering. The companies will pay you for every unit of extra energy that your grid-tie solar system sells. Current FIT rates usually determine the cost per unit at which you can sell to your company.
No need for any batteries
Unlike the off-grid solar systems, the grid-tie solar system doesn’t require any extra batteries to store the generated power. In these systems, the grid itself is the power bank. Your solar system automatically deposits the generated power to the grid, extracts it when required, and continues to keep unused, which you can sell to the utility company. Check out your DISCOM policy guidelines for more on this.
Benefit from lower production rates
With the government aiming to reach at least 100 GW of clean energy by the end of 2022, there has been a lot of encouragement for the usage of clean energy for household needs. The cost per unit kWh of solar electricity generation in India is as low as 40% compared to the regular utility.
Also, the banks are now readily selling finances under “home improvement loans.” Tax cuts for purchases, cheap interests, and EMI options on Credit and Debit cards are all making this alternative lucrative.
With all these summed up, we can conclude that grid-tie solar system is a smart investment. They give you energy security for decades, have little to zero maintenance costs, and you can end up saving quite a bit on your energy needs over the years.