My Finance Guide- Solar Rooftop Price Subsidy- Rajiv Tyagi, who works as a builder in Tronica City, Ghaziabad, had installed solar panels on the roof of his house 4 years ago. About 4 kilo watt solar panel is generating 20 units of electricity daily and due to this Rajiv Tyagi is saving about Rs 150 per day. Rajiv Tyagi has taken on-grid electricity connection from the 4 kilo watt solar panel installed on the roof of the house, due to which 600 units of electricity per month is supplied to the grid and his electricity bill gets reduced.
At present, the electricity bill in Ghaziabad’s Tronica City is around Rs 7 per unit and Rajeev Tyagi is earning Rs 4200 every month from 600 units of electricity from the 4 kilo watt solar panel installed on the roof of his house.
If you install a 5 kilo watt solar panel on the roof of your house, it generates 25 units of electricity daily. According to the current rate, the cost of 750 units of electricity per month comes to around Rs 5250. In this way a 5 kilowatt solar panel can earn Rs 63,000 in a year.
According to people doing solar panel installation work, at present a 5 kilo watt on-grid solar panel is being installed at a price of ₹ 2-2.25 lakh. In this, a subsidy of around ₹ 80,000-1,00,000 is available from the government, while the income of ₹ 63,000 continues every year for the next 25 years.
Companies give a guarantee of 20 years on solar panels, whereas the inverter that converts direct current into alternate current has a guarantee of 5 years. If we talk about a period of 20 years, then at a cost of around ₹ 200000, you earn more than ₹ 12 lakh in 20 years.
If you remove the subsidy of about Rs 1 lakh given by the government, then on the investment of Rs 1 lakh, you can earn more than ₹ 12 lakh in the next 20 years. In recent times, the process of installing rooftop solar has become much easier and the government is providing many facilities to the people installing solar panels on the roof of their houses.