Environment conscious residents opt for the solar rooftop to lead sustainable living and to reduce their energy costs. Many apartments and villa societies are opting to go solar as it helps fulfill their commitment toward preserving the environment. It also can reduce 90% of expenditure towards common area electricity bills which run into lakhs in Rupees.
Solar can be used to power all the common area utilities like lightings, security cameras, lifts, water pumps, water treatment plant (WTP), sewage treatment plant (STP), clubhouse, swimming pool and more. By going Solar, one becomes a trendsetter in their society and that increases the value of the property. Government bodies like MNRE and Discom are promoting the solar rooftop systems withnet-meter facility and long term power purchase agreement (PPA), which significantly increases the affordability of solar rooftop systems.
Solar rooftop system comes with a long life of 25+ years and it pays back itself through savings in monthly electricity bills within about 4-5 years. After the break-even period, you enjoy free electricity for the rest of its life. It is a good option to invest the association’s sinking/corpus funds in solar PV systems as it fetches returns of around 25% when compared to 7-8% of Bank Fixed Deposit interest rates.