Benefits of Solar Power
How Solar Energy beneficial for us ?
Environmental Benefits
Solar energy is a clean and renewable energy source which reduces your carbon footprints and provides reliable power.
PV panels are totally silent, producing no noise at all. This makes them a perfect solution for corporate and institutional applications.
PV panels have no mechanically moving parts; consequently they have far less breakages and lower overall operating and maintenance costs as compared to other energy systems.
Solar power systems derive clean, pure energy from the sun. When you install solar panels on your home, you help to combat greenhouse gas emissions and global warming and reduce our collective dependence on fossil fuel. Traditional electricity is sourced from fossil fuels such as coal and natural gas.
Benefits of solar energy:
Solar energy is not only sustainable, it is renewable and this means that we will never run out of it. It is about as natural a source of power as it is possible to generate electricity.
Financial Benefits
Subsidy :: Ministry of New & Renewable Energy (MNRE) in implementing a scheme for promotion of solar rooftop with provision of 30 % subsidy, other than industrial and commercial solar rooftop projects.
Accelerated Depreciation (AD) : AD is a method of depreciation of the assets in manner that greater deductions are allowed on first few years. Investors can, set off their tax liability on the taxable income to the tune of 40% in the 1st year, 40% in the 2nd year and subsequently 20% in the 3rd year.
Tax Holidays: The ten year income tax holiday (section 80 IA) on solar projects.
Custom duty concessions and excise duty exemptions
Loan :Provision of bank loan as a part of home loan / home improvement Loan
Loans for system aggregators from Indian Renewable Energy Development Agency at concessional interest rate (9.9% to 10.75%)
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