The amount of money you can save with a solar system depends on several factors, including the size of the system, your location, local solar irradiance, electricity consumption patterns, and prevailing electricity rates. Solar power can significantly reduce your electricity bills and even lead to potential earnings through net metering or feed-in tariffs.
On average, a residential solar system can save homeowners around 50% to 90% on their electricity bills. This means that if you're currently paying Rs. 10,000 per month for electricity, you could potentially save Rs. 5,000 to Rs. 9,000 per month with solar power. Over the long term, these savings can accumulate to substantial amounts, making solar systems an attractive investment.
Government incentives and subsidies can further enhance your savings. Govt. offers various subsidies, tax benefits, and incentives at both the central and state levels to promote solar adoption. These can significantly reduce the initial cost of installing solar panels.
It's important to note that the exact savings will vary based on individual circumstances and system specifics. Consulting with a solar expert or company can provide you with a more accurate estimate of the potential savings you could achieve by installing a solar system.