With increasingly rapid advancements in the field of technology, many people have switched towards renewable energy solutions. Wind energy, solar energy, hydro-electric energy has seen many takers in the last 10 years. Why? Because they are cheaper and are abundantly available resources that do not harm the ecological balance of the earth.
According to the Indian Renewable Energy Industry report, India ranks 5th in wind power, 4th in solar power and 5th in renewable power generation.
Solar energy as a renewable source
India is one of the most attractive markets for renewable energy in the world. Electricity is the key element that determines the economic growth, urbanization, industrialization, and quality of life in society. Solar energy is a more reliable source of energy than wind energy or hydro-electric energy since you cannot predict them accurately. Hence, the combined use of renewable sources of energy is preferred as an alternative for other non-renewable sources of energy.
There are three major kinds of solar power systems:
- On-grid – This is also called as grid-tie or a grid-feed solar system.
- Off-grid – It is also called as a stand-alone system.
- Hybrid – It is a combination of an on-grid and off-grid system. It has solar plus battery storage and offers grid connection.
How does an on-grid solar power system function?
An on-grid solar is a solar power generation system which is connected to the utility grid. This means that the electricity produced is channelized to the grid. This system can be installed without any hassles, is cost-effective, and is easy to maintain as well.
How this works: The solar panels installed at your premises absorb sunlight and converts it into direct current (DC). The solar inverter then converts this DC into alternating current (AC), this electricity is then supplied through a grid for daily consumption which in turn powers the electrical devices that we use at our homes/offices.
How on-grid system has been a game-changer in the solar industry?
Given the era of rapid advancement in every field, consumers opt for gadgets and devices that are convenient and that do not require high maintenance. All solar power panels work on the basic principles and on-grid solar is preferred to be installed in houses, offices, and commercial buildings.
Since a greater number of customers are happy to make the switch, solar energy has the potential to avoid the carbon footprints in the years ahead and help people make the switch towards a greener and a cleaner future. Since solar energy is available in abundance, we need to harness it to its true potential. There are many types of systems installed worldwide; however, on-grid solar power system is the widely preferred one.
On-grid solar systems come with a bunch of benefits:
- Light on pocket and easy to maintain – It is easy to set up, install and maintain. There are no batteries that have to be replaced time and again. This makes it an easy maintenance option.
- Income generation – When there is extra electricity generated, a consumer can transfer back this excess energy into the grid and get compensated. He can save money and earn passive income from the electricity generated and excess electricity generated, respectively.
Advantages of an on-grid solar power system for larger businesses
- You can save on your electricity bill
- On having an on-grid solar power system, you are eligible for government subsidy as well, this varies from state to state in India.
- You can export the excessive amount of solar power back to the grid and earn.
- No batteries are required to run the system
- You are likely to get a quicker Return of Investment – within 3-5 years depending the capacity of system installed.
- Your one-time investment will have a long-life span of around 25-30 years
What is Net-Metering and how it works:
Net-metering is a system in which you are allowed to export excess solar energy that you are able to generate from the system installed within your premises and sell it back into the utility grid. When you export the electricity through net metering, you are ultimately being compensated back for the excess energy that you haven’t consumed. This is then adjusted against the future bills. How much you save through net-metering is dependent upon the capacity of your solar system and also your consumption.
In order to trim down the harmful effects of global warming, there is dire need to switch to renewable forms of energy at a large scale so that the change can immediately be noticed. It is our responsibility to provide the upcoming generation with a better climate, cleaner air, and a sustainable environment. Keeping the current scenario in mind, we have to take drastic steps towards plummeting the carbon footprints and leave the planet in a better condition for our future generations.
There has been a huge surge in the solar energy generation in India that rose from 2.63GW in 2014 to 33GW in December 2019. India bags the fifth position in renewable energy domain and sixth position in solar power capacity. With the push from the government about creating awareness and staring several campaigns and launching several schemes, there has been a significant increase in the adoption of solar. This makes India, the second most luring renewable energy market in the world.
India is a game-changer for the growth of renewable energy. According to investors, the renewable energy sector has become more favorable due to the support of the Indian government. Solar energy seems to be the power in India that makes the nation shine as bright as it is.