![]() ![]() It has 5 years as payback time and provides free electricity for the next two decades. ![]() Good Investment Returns - An on-grid solar system offers a good investment option. Also, you end up paying less on electricity bills and earn more through Net Metering. These are the higher rate of charge that the utility charges for using the grid during high-demand hours. You can adjust the usage depending upon peak demand hours and hence end up paying no peak demand charges. More Savings - The main purpose of installing an on-grid solar system is to reduce your electricity bills. Almost all the states in the USA and even India have mandated Net Metering. This forms a lucrative option for the consumers who think of it as an extra opportunity to make money. Opportunity to earn more - With the help of a net meter installed at your home, you can track the number of units you sent to the power grid and claim a credit for that in your home electricity bill. Guaranteed 24*7 power supply - With an option to use either solar power or the main power grid, the consumer will always have access to power and will never suffer from a power outage. This ‘converted’ power supply is then used by homes through the main electricity distribution panel. At the end of each month, the outstanding is recorded and the consumer is provided with a bill. It is a device that records the energy supplied to the grid and the energy consumed. The grid tied inverter additionally regulates the amount and voltage of electricity fed to the household since all the power generated is mostly much more than a home needs or can handle. This electricity is then routed to the grid where it is supplied for day to day use. The solar inverter then converts the DC to Alternating Current (AC), thus making it power the electrical items. This current is then sent to an inverter. The solar panels convert sunlight into electric energy, which is Direct Current (DC). The solar panels, installed on the user’s home are ‘tied’ to the grid. This feature makes the on-grid solar system affordable and highly useful. This system works in two-ways - the supply of electricity can flow from the grid to which it is connected to the user’s home and from the user’s home to the grid. Many policy measures are also undertaken to promote the on-grid solar power plants. ![]() In order to achieve the above target, the Indian Government has launched several schemes to encourage solar power generation in the country like Solar Park Scheme, VGF Schemes, CPSU Scheme, Defence Scheme, Canal bank & Canal top Scheme, Bundling Scheme, Grid Connected Solar Rooftop Scheme, etc. In addition, the Government of India wants to develop a green city in every Indian state, powered by renewable energy. It is expected that by 2040, around 49% of the total electricity will be generated by renewable energy. The country’s installed renewable energy capacity stood at 94.43 GW as of February 2021. India has a target to reach 227 GM of renewable energy by 2022 of which about 114 GW is planned for solar, 67 GW for wind, and balance for hydro and bio among others. The solar market in India is very attractive and the country is expecting investment worth $500 billion in renewable energy by 2028. You will always have power either from the solar system or from the grid. Many residential users are opting for an On-grid solar system as they get a chance to enjoy credit for the excess power their system produces and save on their electricity bills. This means that any excess or deficiency of power can be fed to the grid through net metering. An on-grid or grid-tied solar system is a system that works along with the grid. ![]()
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