The demand for green forms of power has increased immensely, and this is especially true with rising global warming issues. Solar power systems are the optimal alternative to traditional forms of energy like coal and petroleum.
However, the high cost of solar energy in India has restrained people from adopting them. Keeping this issue in mind, we have devised the Power Purchase Agreement (PPA or Opex Model).
Characteristics of PPA:
PPA is a financial agreement that makes solar energy in India more accessible and economical. It awards several benefits to the user:
- The system will be installed at your home or workplace at zero investment cost.
- You only have to pay monthly for the solar units consumed at a predetermined unit rate.
- We care for everything, including system design, paperwork, permissions, and post-installation services.
- If your location provides net metering, you will get compensation for any extra electricity the system produces.
- Option of a buyout anytime as per pre-set clauses.
There are primarily 3 players in the complete implementation of the idea –
1. The Consumer:
The benefits of solar power systems are not only personal but also environmental:
Personal advantages:
- Up to 30% of energy savings
- Your income won’t be affected by electricity price hikes
- Increase in property value
Environmental advantages:
- Reduces dependence on fossil fuels
- Decreases water usage to generate electricity
- Mitigates air pollution
- Helps slow down climate change
2. The Investor:
- After approximately 3 to 4 years, the investor recovers the cost. The consecutive monthly payment, hereafter, by the customer is just profit.
- Benefits from the tax-saving policies provided by the government for using a renewable energy source.
3. The Developers:
- The developers add to their business as they source the equipment for installation from the investor.
- Establishes a long-term relationship with the customer.
- Provides long-term revenue certainty.
Overall, the growth of solar energy in India with the help of PPA will enable you to reap the benefits of renewable energy without heavy investment. This will save you a lot not only on power but also on your electricity bills.
Nimbus Solar: A step towards sustainability!
People have realized that investing in solar energy in India not only protects the environment but effectively contributes to ROI.
As one of the reputed and long-standing players in the industry, Nimbus Solar Solutions has been an active contributor right from the stage of ideation to actual realization vis-a-vis the solar aspirations of its end consumers. It has played a significant role in the Solar Revolution in the country. As a brand that evokes trust, reliability and tremendous experience in the sector, the group is committed to delivering world-class services and products to its clientele.
Contact us here, and we will guide you with details for your solar setup and other PPA formalities.
