For the past few years, there has been an immense boom in the solar energy sector, suddenly every household wants the Rs.0 electricity bill. As per the budget speech, there have been nearly 12.8 million registrations on the dedicated RTS (RoofTop System) portal with 1.4 million applications received since February 2024. In order to increase RTS penetration in India, the announcement of the PM Surya Ghar Muft Bijli Yojana (PM-SGMBY) with a combined outlay of Rs 75,000 crore till 2027 was made in the interim budget 2024. However, despite the hype and the many efforts taken by most countries, is solar power actually beneficial to our household?
First and foremost, looking from a broader perspective, solar power or solar energy has proven to be very beneficial not only to the environment but also to the private economy. Putting up solar panels, significantly reduces your electricity bills and also increases the house value. One of the disadvantages of solar energy is that it’s subject to temporary weather disruption. Cloudy days reduce the amount of electricity you produce. Cold, however, doesn’t affect productivity.
Also orientation matters, if your roof doesn't face the sun, you won’t be able to capture enough solar energy. Roofs that angle into the sun tend to work better than flat roofs.
Solar Panels however are pretty expensive to install, the initial costing is not something most households can afford even after incentives. Hence, solar solutions are only recommended for businesses, industrial plants and/or public and private sector economies rather than private economies or households.
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