Empowering Individuals to Harness the Sun – How Residential Solar can usher in a new era of energy in India
Every emerging economy envisions a future where it can meet its ever-increasing energy demand in an economical and more importantly, in a sustainable manner. India has climbed to the second position from the third in last year’s ‘Renewable energy country attractiveness’ index released by Ernst & Young. This rapid progress, especially in India, is primarily due to a combination of stable government intervention and the attractive economics behind the solar power. Industrial entities are the early adopters of renewable energy. However, the adoption of solar power for domestic consumption has gained momentum due to the rise in electricity bills, interrupted power supplies and energy-intensive lifestyles.
Although the government has incentivized the infrastructure feasibility required for residential solar, a lot is yet to be changed regarding consumer behavior and preferences. Those as mentioned earlier are the key aspects that could potentially bolster residential solar into a new era of carbon-free energy In India.
By instilling the notion of homegrown electricity among people, suppliers can reduce country’s reliance on burning coal and nuclear resources for power. This self-reliance could also facilitate optimized and conscious consumption.
Monitoring and analyzing data from residential solar is an integral part of a solar implementation. Current information about the energy created and utilized help households to customize their needs based on dynamic requirements with minimal effort and risk.
While solar power is economical in the long run, most of the investment needs to be made upfront. Strong government-led financial incentives such as EMI and credit policies could bolster the adoption rate.