Why Going Solar is a Smart Financial Move: A Comprehensive Guide for Bengaluru Homeowners

As electricity tariffs in Bengaluru rise to ₹7 per unit (and more), investing in solar power offers a promising financial advantage. Let’s examine the potential savings with a 5 kW solar power system to understand how this investment could benefit you.

How Much Can You Save with a 5 KW Solar System?

A 5 kW solar system typically generates around 20 units of electricity per day. At the current rate of ₹7 per unit, the savings can be calculated as follows:

Daily Savings:

Daily Savings = 20 units × ₹7/unit = ₹140 per day

Annual Savings:

Annual Savings = ₹140 per day × 365 days = ₹51,100 per year

Investment and Payback Period

The installation cost for a 5 kW solar system, after applying a government subsidy for solar of ₹78,000, is approximately ₹2,90,000. The payback period i.e. the time needed to recover your investment through savings is as follows:

Payback Period = ₹2,90,000 / ₹51,100 ≈ 5.7 years

Long-Term Financial Benefits

Over a 25-year period, the total savings from your solar system would amount to: Total Savings = ₹51,100 per year × 25 years = ₹12,77,500

After accounting for the initial investment, the net gain in 25 years is: Net Gain = ₹12,77,500 − ₹2,90,000 = ₹9,87,500

Comparing Long-Term Returns: Solar Investment vs. Fixed Deposits (FDs)

Atria Renewable also offers the following:

• Panel performance warranty - 25 years

• Panel manufacturing warranty - 12years

• Inverter warranty – 10 years

• Battery (for hybrid system) - 15 years

  

Additional Considerations

• Maintenance Costs: Solar systems have minimal maintenance costs; Atria Renewable offers quarterly maintenance for 5years free of cost.

• Net Metering: Bengaluru’s net metering policies allow you to sell excess electricity back to the grid, which can further increase your savings on electricity bills.

  
  

Cost-Benefit Analysis of Solar Systems

Conclusion

Solar power systems offer considerable financial benefits with a relatively short payback period and a substantial return on investment, making it a smart choice for reducing electricity costs and contributing to environmental sustainability for Bengaluru residents. Over the long term, solar power provides a reliable way to benefit both your wallet and the planet.

Consider investing in a solar power system with Atria Renewable and start enjoying these benefits today!