In recent years, the implementation of solar panels for residential energy needs has increased. This is not just a passing trend – it’s a growing movement towards sustainable energy solutions. More and more individuals are realizing the benefits of using the power of the sun to generate electricity for their residences. Power cuts are a common issue in India nowadays, especially during the hot summer months when demand for electricity increases. The country’s rapidly growing population, combined with outdated infrastructure and insufficient power generation capacity, often leads to extensive blackouts. Many people depend on backup generators or inverters to cope with these outages, but not everyone has access to such resources. The government is working towards improving the situation by investing in renewable energy sources like solar and wind power, as well as upgrading transmission lines and distribution networks which can help in reducing power cut issues in the future and can provide a more reliable electricity supply for all.
As per a report, the estimated power demand of India is to reach up to 250 GW in summer (April-June 2024), while India’s power production was 133.83 billion units in January 2024 and many tier 2 and tier 3 cities of India are facing energy deficiency. Seeing this scenario, the real estate players, who are creating new townships in those areas, are primarily thinking of using solar panels to cope with this energy deficiency and moving towards a green and clean future. Not only will it help reduce their carbon footprint and lower their energy bills, but it will also add value to their property. Also, solar panels are becoming more affordable and efficient than ever before due to the advancements in technology.
Making the Move to Solar
With advancements in technology and government incentives for renewable energy, installing solar panels has never been more accessible or affordable. So, join the movement towards a more sustainable future and embrace the power of solar energy for your residential needs.
As per a report, the percentage of installation of solar panels in residential projects in India was quite low five years ago. Despite the country’s huge potential for solar power generation because of its ample sunlight, only around 2-3% of households had installed solar panels at that time. This was mainly because of high initial costs, lack of awareness about the benefits of solar energy, and limited government incentives to promote renewable energy sources. However, in recent years, there has been a significant increase in the adoption of solar panels in residential areas as prices have come down and more people are becoming aware of the environmental and economic advantages of using solar power.
Role of Real Estate Builders
In India, real estate builders are increasingly turning to solar power in response to the persistent issues of power cuts. With the unreliable grid system causing disruptions and inconveniences for both residential and commercial properties, big builders are realizing the benefits of investing in solar energy solutions. These builders are not only making sure of a more consistent and reliable source of electricity for their projects but also reducing their carbon footprint and contributing to a greener environment by switching to solar power. Additionally, utilizing solar power can lead to long-term cost savings on electricity bills, making it a budget**-conscious** decision as well. As per a report, the solar power market size in India is estimated to grow at a CAGR of 34.24% between 2022 and 2027 and the value of the market is to increase by USD 273.82 billion. Keeping this in mind, real estate developers are adopting solar technology in their construction projects.
In conclusion, solar panels are not just a trend; they are a sustainable solution that offers long-term benefits for homeowners and the environment alike. Homeowners can reduce their carbon footprint, lower their energy costs, and create a greener future by using the power of the sun. Make the switch to solar panels today and take the first step towards a more sustainable lifestyle.
As the world pivots towards sustainable energy solutions. Solar power stands out for its limitless potential and environmental benefits. Navitas Solar trailblazer in the renewable energy sector, is leading this transformation with its innovative solar energy storage solutions. Founded by Vineet Mittal. The company’s commitment to efficiency and forward-thinking technology is reshaping how we harness and utilize solar energy.