We, as Indians, believe in keeping money for the future, so we always try to invest in traditional methods such as investing in FDs, bonds, shares, and many more, which assure long-term benefits. One such smart way of saving is investing in solar panel systems. With solar power, you will be able to produce free electricity for domestic or commercial use for the upcoming 25+ years of the solar system. Even if you don't utilize 100% of the energy produced by the solar panel it can go directly to the main grid giving you monetary benefits on electricity bills, solar power panels will help you have a lot of money. You could significantly overcome the pressure of destructive fossil fuels on our environment. By investing in solar panels for your property, you will save money while taking steps to protect the environment.
What are Fixed Deposits?
A fixed deposit (FD) is a financial instrument that rewards a fixed rate of interest until a given maturity date, turning it into assured returns. The returns are calculated at fixed rates within a specific time period ranging from about seven days to ten years.
Why Invest in Solar Power Plants?
Solar power plants are an eco-friendly and highly beneficial investment. Due to their modular configuration, they are readily adaptable and flexible to geographical and infrastructural conditions and are very low maintenance. They generate long-term high returns, with the highest level of reliability and investment security.
Comparing Rs. 1 Lakh Invested in FD and Rs. 1 Lakh Invested in Solar Panels
Subject to changes in government policies, you get an interest rate of 7% on FDs on average. If you invest Rs. 1,00,000 in FD, you will get approximately Rs. 7,000 per year. In comparison, the average rate of electricity per unit is Rs. 6. An investment of Rs. 1,00,000 in Solar Panels (producing 8 units of electricity per day) would entail Rs. 48 per day (Rs. 6* 8 units), which sums up to Rs. 17,520 per year. Thus, you will save Rs. 10,520 more by investing in Solar instead of investing in a fixed deposit.
*This saving is dependent on the plant size and location
Investing in the operations and maintenance to deliver a high-quality performance solar panel is a cost of concern for most investors. However, you shouldn't be worried about the Solar PV System Cost. To secure long life and sound generation, you should look to choose an O&M agency that, at a nominal charge, will do the maintenance of your solar plant and keep it shining. It is completely worth the investment. A well-credentialed O&M associate can go a great way in serving you with high returns from your rooftop solar plant.
Investing in solar installation today is a no-brainer. As we already calculated, going solar gives a return of more than 17% compared to FDs, which provide a return of 7% each year. Isn't this a fantastic deal? Go ahead and choose MYSUN as your preferred partner for a solar power plant. You will be offered a range of very reliable and lucrative packages for solar O&M. They further provide a world-class service, top quality, and internationally A-rated solar equipment, so look no further and add value to your solar journey.
*This saving is dependent on the plant size and location
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