Every new construction will start having solar panels

Many people still think that this technology still needs maturing but there are now so many advancements happening around renewable energy and Solar panels are one of the greatest solutions for an alternative power. In India, most of the power generation happens through non-renewable resources if I'm not wrong. I'm in the southern part of India and here Lignite is used in Thermal power stations and electricity is produced. There are also atomic power stations in southern India but people find it hard to look for alternatives.

Thanks to the government they are now offering schemes for having rooftop solar panels. Instead of going for an off-grid solar implementation that would cost a lot of money, the government is helping in setting up a grid solar implementation where the energy that is produced during the day time is sent to the energy grid and there will be a meter that would calculate it and during the night time when there is a need for power and there is no sun, the generated power is used. In an off-grid solar implementation, people use batteries to store the energy and use it. But on grid solar implementation, the produced electricity during the daytime is sent to the power grid and credits are created. Those credits are used when there is a need for power in the nighttime or on days when it is cloudy or there is no Sun to produce enough electricity.

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Let's talk about implementation cost

It is believed that the implementation cost is a bit high compared to the regular energy we are getting. After the government introduced subsidies for implementing solar in our house, many people have shown interest and people have started implementing it. The cost is variable and can change from one company to another company but overall the cost has now become reasonable and people who are investing right now can reap profits after almost 5 years. After the break-even, they can get free electricity for almost 15 years after that.

Implementation challenges

There used to be a problem with implementation where many people did not believe the fact that it could end up being reliable. Many people also misunderstood that off-grid was the only option and thus people will have to store a lot of energy in the house in the form of batteries and use them when needed. There are still people who are using batteries to store the energy they produce during the daytime and have been using them back during the nighttime. But after the on-grid option came, people became fan and would like to have solar panels implemented on their rooftops.

More importance to solar in the future

Currently, when people buy a house, they look for some important things. People expect to have comfortable car parking. After that people think that it is important to have Elevators even if it is a small building. But today the trend is slowly switching and I believe having solar implementation on top of the roof will become a mandatory criterion. Today people are hesitant to buy a house without car parking. Similarly in the future people will be hesitant to purchase a house that already has solar implementation done.

In another 5 years, I'm expecting this industry to grow drastically and people who invest in stocks related to the energy sector are going to see a great boom. We need a lot of advancements in the field of batters to make it small and still efficient.