In these pandemic-ridden times, almost all businesses seem to have been struck by a period of uncertainty. Investors, especially, have been most-affected by this outbreak. However, amid this gloom, there is a silver lining: India has achieved new records in solar power generation! According to data released by the Central Electrical Authority (CEA), the peak generation (178 MU, 2 April) has been 13% per cent higher in the lockdown as compared to the peak generation (158 MU, 18 March) in the pre-lockdown period. This spike has been attributed to clear skies, low levels of air pollution and excellent micro-climatic conditions.
Contributes across all sectors
The immediate future is expected to see a rise in solar projects nationally – in fact, the period right after the pandemic is an opportune moment for industries across all sectors to invest in solar energy. As is already well-recognized, the need for solar power encompasses all industries. Not only does it contribute heavily to the power sector, but also to the health, power and agriculture sectors as well. Its role in sustainable development, job creation, reducing emissions and fostering innovations in technology cannot be undermined.
A stable investment
When you invest in solar, you are guaranteed your investment will fetch a return of up to 20-25% annually. Besides, the rising electricity charges catering to this new age of automation makes this investment a very safe bet. In totality, your investment essentially is one with a low risk, guaranteed returns, subject to several tax benefits and free from external market influence. Not to mention, it facilitates going green and doing your bit for Mother Earth!
Savings: let’s do the math
For example, consider a 100 KW solar power system, the investment cost of which will be approximately Rs 35 lakhs. Annually, such a plant is expected to produce 1,20,000 units of power. If we consider the rate of electricity today at Rs 8 per unit, this implies we make a savings of approximately Rs 10 lakhs per year. So in roughly 3.5 years, we recover our initial investment cost just through our savings on electricity. Additionally, owing to accelerated depreciation, we get a return of approximately 25% in the first five years itself.
Tilt the balance
Some of the other factors that make solar an extremely viable investment include:
- Financing for your solar systems is easy, with a host of loans available at low interest rates as per government norms.
- In any electricity bill, there are variable costs covering components like unit charge, electricity duty. Solar bills are free from such variable costs and can guarantee you a ROI of 20-25% per annum. Besides, you have complete control over your bills.
- Solar power systems survive on very low maintenance. In most cases, they outlive their 25-years warranty period.
- The sun produces enough energy every hour to meet the entire world’s energy demands. Since solar energy can work in any climate, it has the potential to service the entire planet.
Nimbus Solar: Leading the way
Clearly, the time is now to adopt the drive for long-term behavioural changes and energy efficiency that are supported by advanced and innovative technology. Investing in solar projects will not only harness the power of the sun effectively but will re-energize the renewable-energy production business.
As a brand that evokes trust, reliability and enormous experience in the sector, Nimbus Solar Solutions has played a major role in the Solar Revolution in the country. Today, the Group marches on to uplift our flagging economy by guiding companies into taking the right decisions when it concerns their solar power needs. They have even introduced a ‘Cash-back Scheme’ for the benefit of their clients. For more details, visit nimbussolar.in