Industrial and commercial connection customers are increasingly moving towards the solar energy option by installing solar power plant on their roof. Installing a solar energy system in the industry gives them immense benefits by saving in electricity bills as well as increase in reputation as a sustainable company.
There is an increase in rooftop solar plant installations in factories as well as residences as the cost of electricity is increasing. Many finance and solar companies like Verde are helping businesses to structure their EMIs to ensure that the savings are equal to or more than the savings accrued to the businesses. So a typical factory owner is able to pay his EMI for say five years through savings from electricity bills by installing solar energy system. Industries therefore are finding it easier to adopt to solar as the whole solar power plant becomes free of EMI in few years and then later on the savings in electricity bill is very high because of solar plant installation.
Rooftop solar is therefore gaining popularity among C&I consumers due to its easy availability and power cost savings, with no transmission or distribution losses. The high upfront cost of rooftop solar systems, which many MSMEs cannot afford or prioritize over their core business activities can be offset very easily by taking a collateral free loan and pay their EMIs through their savings in electricity bills.
A 100 KW solar power plant installation in Noida will save a factory of more than Rs. 11 lakhs annually. In fact this savings will increase as most discoms have increased or are in the process of increasing the electricity rates. As inflation and costs increase over time, the early adoption of solar power will provide long-term cost savings.
