Innovative Solar Model Could Save Up To 95% of Your Monthly Electricity Bills

Even the smallest, energy-efficient LED consumes some amount of power. Little by little, when the electricity units add up and present themselves, the eventual expenditure is quite high. Well, installing rooftop solar panels can help you reduce power costs, or you could buy power from a community rooftop solar plant, as reported by the Financial Express.

Households that install rooftop panels could save up to 95% of their monthly electricity bills, according to a PTI Report mentioned in India Today, which quotes a joint study undertaken by the CEEW (Council On Energy, Environment, and Water) and power distribution company BYPL (BSES Yamuna Power Limited).

The report found that those residents who buy power from a community solar PV plant could reduce their power bills by as much as 35%. The savings have been calculated over the 25-year lifetime of these systems.

Don't let your electricity bill hit the roof, use solar power and live stress-free. Image Credit: Recruitment India — Don’t let your electricity bill hit the roof, use solar power and live stress-free. Image Credit: Recruitment India

BYPL and CEEW undertook a study called “Scaling Rooftop Solar-Powering India’s Renewable Energy Transition with Households and DISCOMs” in East and Central Delhi areas. The study says that it is important to increase the prevalence of rooftop solar in residential sectors in India.

CEEW, BYPL and the Delhi Electricity Distribution Company (DISCOM), have developed three utility-led business models to accelerate rooftop solar deployment in the residential sector, according to the report. The models, namely the community solar model, on-bill financing model, and a solar partners model, target consumers ranging from those living in gated communities to low-income consumers who receive electricity subsidies.

The study also suggests ways of using solar power to those who don’t have rooftop panels or live in rented properties. They can benefit from solar electricity through the subscription programme or can agree to be a solar host without having to pay money, and without any credit checks.

This will get rid of investment-related market challenges associated with rooftop solar systems, like a high capital cost, and limited access to finance. The report rightly points out that consumers will save on their bills, as there are no operations or maintenance costs or obligations.