The most cost-effective form of the solar system is an on-grid solar system, also known as a grid-tie or linked solar system. It’s a comprehensive solar system that includes a high-efficiency best solar panel, an on-grid solar inverter, and other common solar components. This system will not only offer you constant energy, but it will also help you save money on your high electric bills.
Solar panels collect sunlight to create DC power, which is then converted to AC electricity by a solar converter and utilized directly at home or work.
Solar net metering is used to feed excess electricity back into the main electrical grid if the system produces more power than is utilized. The exported units will be adjusted in your electricity bill by the government or power supplier business at the time of billing.
What Is an On-Grid Solar System and How Does It Work?
The array of solar panels in an on-grid solar system is connected to the solar inverter, which is connected to the grid via your energy meter. The solar panel transforms sunlight into direct current (DC) energy, which is subsequently transformed into alternating current (AC). The common electrical current used to power most household appliances and luxury across the world is AC electricity.
If the solar system’s output exceeds the house’s electrical demands throughout the day, the extra energy is automatically transferred into the power grid via “Net-Metering.” The electricity meter will turn backward when this happens.
The excess energy needed to power the house is obtained from the grid as it typically would be at night or whenever a household uses more electricity than the solar system produces.
What is Net-Metering, and how does it work?
Net metering is a method of analyzing and visualizing your grid exports and imports, such as how much solar generates, how much we use, and how much we export to the grid. The parameters mentioned above will be used to compute your power bill.
A bi-directional meter performs all of these operations. The complete electricity usage of a residence will be tracked by this monitoring meter. You can readily see how much of your home’s power demands are covered by your system’s generation, as well as how well it is operating at any given moment.
Cost of On-Grid Solar System
The lowest stated project cost for a rooftop solar system up to 1 kW was 50,000 INR/kW, 47,000 INR/kW for a 1 kW to 2 kW system, 45,000 INR/kW for a 2 kW to 3 kW system, and 44,000 INR/kW for a 3 kW to 10 kW system, according to MNRE Benchmark Cost. The lowest project cost offered was 38,000 INR/kW for systems of 10 kW to 100 kW and 36,000 INR/kW for systems of 100 kW to 500 kW. However, if a customer wishes to install a grid-connected solar system without taking advantage of a subsidy program, the cost of a grid-connected solar system is between 1,80,000 INR and 5,60,000 INR all-in. The data you’re looking at was last updated on Wednesday, April 20, 2022.
Return on Investment
In India, the economics of rooftop solar energy has grown more enticing. Rooftop solar energy is an excellent option for business and industrial clients since it is substantially less expensive than grid electricity. By investing in solar, you may turn your land into a revenue-generating avenue in as little as 4-5 years.