Have you ever wondered if investing in a home solar system is worth it? Well, just like any other purchase, it’s essential to evaluate the return on investment (ROI) before taking the leap.
In this blog, we will talk about how to take a first step towards sustainable living with a solar system, calculate the solar panel ROI and unleash the power of a home solar system!
Calculate Your Solar Payback Period with Freyr Energy’s Home Solar System Guidance:
Simplifying solar payback period calculation for your solar system investment in the following ways:
- Average Electricity Bill & Power Consumption
- Solar System Size
- Cost of the Solar System
- Solar Panels Payback Period
What sets solar investment apart is the assured returns it offers. Unlike other market investments, solar system for home guarantee returns since they consistently generate electricity as long as the sun shines.
What Factors Affect Solar ROI?
Cracking the ROI Code: key factors to consider for solar panels for home investment. From electricity costs to panel warranty, we've got you covered:
Solar Panel Installation Costs:
Investing in solar panels for home, equipment, and installation costs poses the initial financial challenge.
On average, a 3kW solar panel system installation costs range from Rs. 1,89,000 to Rs. 2,15,000. The per-watt price of solar panel system for home in India typically falls between Rs. 75 and Rs. 85.
Maintenance & Replacements:
When it comes to solar system for home, grid-tied systems offer several advantages. These systems require minimal maintenance due to their few moving parts. Keeping the panels clean and free from debris is typically all that's needed.
Grid-tied systems enable homeowners to save money through net metering, where excess electricity is sent back to the utility grid, earning credits. This eliminates the need for costly battery storage.
Net Metering Agreements:
Net metering plays a crucial role in promoting solar system for home utilization, offering a range of advantages for users and the environment alike.
Additionally, net metering boasts a low maintenance cost. By transferring surplus power to the electric grid, maintenance expenses are significantly reduced compared to non-grid systems.
Shading:
When installing a solar system for home, it's crucial to consider sun exposure for maximum efficiency and a higher return on investment (ROI).
Obstructions like trees or chimneys can hinder sunlight access, impacting energy generation and potential savings. Fortunately, many states in India experience 3 to 5 peak sun hours, with longer days during summer and abundant daylight hours.
Mount Angle & Orientation:
To maximize the efficiency of solar power for home, it's essential to consider their angle concerning the sun's position. As the sun moves across the sky throughout the day, panels facing directly towards it generate the most power.
Panel Degradation:
Solar panels have an expected lifespan of 25–30 years, after which their performance gradually declines. The degradation rate measures how quickly a panel's power production decreases over time, typically averaging 0.5% per year.
Ensuring long-term efficiency will help you maximize the benefits of solar power for home.
Conclusion:
Ready to take charge of your energy future? Let Freyr Energy's expert services calculate your solar payback period and guide you toward a sustainable future. We're not your average solar company — we're committed to quality, customer satisfaction, and making finances crystal clear.
