In modern era investment is one important part of every human. Let us sneak into how to Earn In Smart Way with Green and Smart Energy.
Investment is defined as:
- the action or process of investing money for profit.
- a thing that is worth buying because it may be profitable or useful in the future.
People often look for various investment ideas to make money. Some of the conventional ways are investing in mutual funds, equity, and various investment schemes. In addition, with the modernisation of technologies, one can run a lucrative business through solar panels. If you invest in such a power plant on top of your establishment today and connect it to the grid, you could recover its cost in just four to six years. Therefore, lets sneak into how to Earn In Smart Way with Green and Smart Energy.
Investment: The cost of a PV panel costs anywhere between Rs 30 to Rs 50 per watt of power generated. And the grid-connected Solar PV panel System costs around anywhere between 50,000-70,000 per kWp (cost based on the type of inverter and panels you choose).
Legal Requirements: The Electricity Act 2003 enables the private participation in Power Sector by delicensing power generation. Thus, there are no such legal barriers to generate power on your own.
Technical Standards: A Solar Rooftop PV system should qualify the technical requirements for the grid interconnection with the network. Therefore, Rooftop Solar PV System with its Network should conform to the specifications, standards and other provisions specified by the Central Electricity Authority (CEA) in (Technical Standard for Connectivity of the Distributed Generation Resources) Regulations, 2013, the CEA (Measures relating to Safety and Electric Supply), Regulations, 2010 and the State Grid Code.
WHY THIS BUSINESS?
Incentives: The Rooftop Solar PV System is provided with many incentives like exempted from Transmission Charge, Transmission Loss, Wheeling Charge, Wheeling Loss, Cross Subsidy Surcharge and Additional Surcharge. Therefore, it makes this business as one of the most profitable as many expenses are not recovered by the party.
Subsidy: Government of India through the Ministry of New and Renewable Energy (MNRE) under the National Solar Mission or other schemes provides subsidies to the installer of Rooftop Solar PV System. In addition, various state governments also provide the subsidy.
Profitable Business: If you invest in such a power plant on top of your business establishment today, and connect it to a grid, you could recover its cost in just four to five years, developers say. For a residential unit, it takes six to seven years to recover the investment. In addition, a rooftop solar units run for 25 years. Thus, businthe ess will give you profit for almost 20 odd years.
Motivating Facts: Government of India is promoting renewable energy through many schemes. Which makes the renewable sector a lucrative business in near future.