No more hefty electricity bills! You might have to pay almost nothing for power if this solar model works

A recent study by CEEW and BYPL said that households having rooftop solar panels could save up to 95% of their monthly electricity bills.

Installing rooftop solar panels, or even buying power from a community rooftop solar plant, may make electricity bill payments cheaper, according to a recent study. Households having rooftop solar panels could save up to 95% of their monthly electricity bills, PTI reported quoting a joint study undertaken by the CEEW and power distribution company BYPL. The report found that those residents who, via a subscription plan, buy power from a community rooftop solar PV plant, could also save up to 35% on their monthly power bills. The savings have been estimated over the 25-year lifetime of these systems.

The study titled “Scaling Rooftop Solar – Powering India’s Renewable Energy Transition with Households and DISCOMs” was undertaken by the Council on Energy, Environment and Water (CEEW) in collaboration with BSES Yamuna Power Limited (BYPL) in east and central Delhi areas. The study, released at the CEEW Renewable Energy Dialogue 2018, said that it has become imperative to develop innovative business and financial interventions to accelerate its adoption among households given the low rate of deployment of rooftop solar in the residential sector in India.

“In this context, Council on Energy, Environment and Water (CEEW) in partnership with the Delhi electricity distribution company (DISCOM), BSES Yamuna Power Limited (BYPL), has developed three innovative
utility-led business models that can accelerate the deployment of rooftop solar systems in the residential sector,” the report said. The three models — community solar model, on-bill financing model, and a solar partners model — target diverse residential consumers ranging from those living in gated communities to low-income consumers receiving electricity subsidies.

The study found out that consumers who do not have access to a rooftop or who live in rented property can benefit from solar electricity through the subscription programme, or can agree to be a solar host without having to pay any money and without any credit checks, thus eliminating all investment-related market challenges associated with solar rooftop systems like high capital cost and limited access to finance. “There are no operations and maintenance costs nor any obligations for consumers. Consumers achieve savings on their electricity bill,” said the report.

Source: financialexpress