ON GRID SOLAR SYSTEM
On-grid or grid-tie solar systems are by far the most common and widely used by homes and businesses. These systems do not need batteries and use common solar inverters and are connected to the public electricity grid. Any excess solar power that you generate is exported to the electricity grid and you usually get paid a feed-in-tariff] (FiT) or credits for the energy you export.
- Businesses can rely on on-grid solar systems to meet their daily requirements, as well as earn income from the excess power generated.
- On bright sunny days, buildings can generate enough solar energy to power appliances, lights, water heating systems, etc.
- The on grid solar power systems will reduce the electricity bills and provide you money if you can give power to the main grid.
- There is no need of expensive batteries to store the electricity.
- This is an investment on return. If you invest in on grid solar power plant you will get returns for sure.
- On-grid solar systems are very cost-effective and easy to install.
- Businesses can recoup the cost of their investment by offsetting electricity bills in just 3-8 years.
- If a private, commercial or industrial building sets up a solar PV rooftop system it will be eligible to avail an ‘Accelerated Depreciation Benefit’ which is currently 80% in a year. At this rate, businesses can completely the whole value of the project in approximately 4 years.
- Residential users and business owners can earn a passive income for the surplus energy generated by the system.