Are you considering putting up solar panels in Varanasi but are undecided on the cost? Solar panel installation cost in Varanasi varies depending on various factors. We will break down how much it costs to put up solar panels in Varanasi.
Initial Investment:
The initial cost of installing solar panels in Varanasi includes cost of solar panels, mounting equipment, inverter and installation charges. On average, a residential solar panel system can cost between INR 70,000 to INR 1,00,000 per kilowatt if installed in Varanasi city based on quality and brand of the solar panels.
Government Subsidies and Incentives:
For motivating the utilization of sun’s power by mass people, the government has come up with many different subsidies and incentives schemes available. Atal Solar Krishi Pump Yojana related subsidy can be availed under Net Metering policies as well in Varanasi which is capable of reducing total investment cost heavily.
Maintenance Costs:
With minimum care like occasional cleaning and checking them for faults, that’s all what is required for maintaining a solar panel. Annual maintenance expenditure required to maintain these things is minimal as compared to other energy generation methods; thus when calculating everything that one should include into full project costing must have this particular aspect at the back of his/her mind.
Return on Investment:
Installing solar panels involves long term commitment with attractive returns. For a domestic user, average payback period for a residential installation system is around 4-5 years that takes place within city limits such as that of Varanasi. After this time period ends free electricity can be enjoyed from it for several years thereby making huge savings on electricity bill.
Financing Options:
If you cannot afford to pay upfront costs for your solar panel installation there are many financing options available including leasing or power purchase agreements or even getting finances from various banks as solar loans. By using these methods it will be possible for you to have solar panels installed without having to pay any upfront costs for installation gradually paying off through monthly payments.
In the cost of installing a solar panel in Varanasi is an investment that gives returns in the long run. By considering the above factors and examining existing incentives or financing alternatives you are able to make an informed decision about whether installing a solar panel is worth your money in Varanasi City.