Solar industry has seen a tremendous transformation in the last decade. The price of the solar panels has been at the lower spectrum and the adaption of solar is widespread. We’ve compiled a list of these lesser-known facts about solar energy so you can learn a little more about the most abundant energy source on the planet!
1. Solar is a clean, renewable energy source
Solar power is a renewable energy resource which is also a clean energy. It doesn’t deplete the source i.e. sun.
Generating solar energy doesn’t emit harmful greenhouse gases like energy derived from fossil fuels. .
2. The price of solar has dropped over 60% in the last decade
The price of solar has dropped significantly over the last ten years. A typical 3 KW solar installation would cost between 75,000 to 150,000 INR.
3. The Indian solar market is expected to reach to $238 billion by 2032
The India Solar Energy Market was estimated at USD 38 billion in 2022 and is anticipated to reach around USD 238 billion by 2030, growing at a CAGR of roughly 40% between 2023 and 2032.
4. Solar panels work in cold, snowy states
The common misconception about rooftop solar is that they provide best results only in summer sunny days which is not entirely true.
While solar panels needs large sunlight, they can still generate electricity on cloudy days. Believe it or not, the ideal conditions for solar panels are cold sunny days. So, states with cold winters can still utilize solar panels and still see significant savings.
This is one such information about solar energy which can make its adoption faster in hilly areas like Himachal Pradesh, Uttarakhand, Jammu and Kashmir etc.
5. Solar increases the value of a home
It can increase the value of home on an average by 4%.
Solar panels can reduce your electricity bills, among many other benefits – making for a desirable investment for prospective homebuyers.
6. Solar battery storage makes solar panels more reliable
Solar is an intermittent resource that means it typically cannot generate electricity at all times. But solar batteries serve that purpose.
The popularity of battery storage is expected to rise in the near future due to more restrictions on net metering, increasing utility costs, and more frequent grid outages.
7. Residential installers are offering more than just solar panels
With the growing popularity of battery storage and electric vehicles, the solar industry isn’t just about solar anymore.
8. Solar is a great investment
With the savings accumulated on your monthly electricity bills, residential solar systems can pay for themselves in just a few years.
9. Getting multiple solar quotes gets you the best price
Going solar is a huge decision that requires a lot of careful thought and planning. To get the best quality solar installation and the best price possible, you should get multiple solar quotes to compare.
The above facts about solar energy is a testament to the rising of solar adoption in the coming years.
