Implementing solar energy system at a residential or workplace can help you save money on utility bills while you stay eco-friendly. You will not be affected by the hikes associated with fossil fuel prices. Solar power adds value to your home or workplace in case of renting or selling the property. Government of India also provides various subsidies to the consumers of solar energy.
Net metering is the billing mechanism that allows the Solar PV System owner to Credit the excess energy that is produced and added to the grid for future usage. In this case a customer can generate more electricity than the home uses.
The homeowners get various measurable benefits by installing a solar power plant. Solar power plants lower energy costs and increases value of the house. They also manage utility and reduce power interruptions. They are a secure investment unlike utilities which fluctuate from time to time.
Owners of property are given solar loans to install solar panels and produce energy. They are similar to any other loan as they have a interest rate, payback period and a principal amount.
Solar loan refers to collecting capital from individuals and investors for installing a solar power plant and sharing the benefits. Solar loans are also called community solar project, solar garden or shared renewable energy plant.