What is the average price of 1KW Solar Panel system?

1kw solar panel price
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Last updated at :
Jul 16, 2024
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As India shifts towards renewable energy, the popularity of solar power has surged. The cost-effectiveness of solar systems, combined with government subsidies, has made solar energy an attractive option for both individuals and businesses. 

So, what is the cost of a 1 kW solar panel system in India, and what government subsidies are available to reduce this cost? Let's get into the details.

A 1 kW solar panel system consists of several components: solar panels, mounting structures, inverters, and safety measurement With these components, a 1 kW solar panel system in India can generate approximately 4 units of electricity daily, which translates to about 120 units per month and 1440 units per year.

What are the typical ranges of cost in a 1kw solar panel system?

When it comes to the cost, a 1 kW solar panel system in India typically ranges from ₹25,000 to ₹60,000. However, registering for government subsidies can significantly reduce this cost. As of February 2024, the new subsidy rates are as follows:

- 1 kW system: ₹30,000

- 2 kW system: ₹60,000

- 3 kW system: ₹78,000 (₹60,000 for the first 2 kW and ₹18,000 for the next 1 kW)

- 5 kW system- 10KW : ₹78,000 (capped subsidy)

What are the qualifications for subsidies in the 1kw solar panel system?

To qualify for these subsidies, individuals need to register on the National Portal for Rooftop Solar from February 13, 2024. However, the initial installation cost is a one-time investment. Once installed, the system can provide free electricity for up to 25 years, leading to significant cost savings in the long run. Additionally, transitioning to solar energy helps reduce the reliance on the grid, leading to cost savings and environmental benefits.

Solar energy is not just about saving money; it’s also about contributing to a cleaner environment. One of the primary environmental benefits of solar power is the reduction in carbon emissions. By switching to renewable energy, we can significantly mitigate the effects of climate change. Solar power generates electricity without releasing harmful pollutants, making it a sustainable and responsible choice for the future.

Moreover, the reliability and low maintenance of solar panels add to their appeal. Once installed, solar panels require minimal upkeep, mainly periodic cleaning and inspections. This hassle-free maintenance is another reason why more people are turning to solar power. The technology behind solar panels has also advanced significantly, increasing their efficiency and lifespan.For businesses, the benefits of installing a 1 kW solar panel system extend beyond cost savings. Adopting solar power can enhance a company's reputation, showcasing its commitment to sustainability and environmental responsibility. This can attract environmentally conscious customers and partners, providing a competitive edge in the market. Furthermore, businesses can take advantage of various incentives and tax benefits offered by the government to encourage the adoption of renewable energy.

The long-term financial benefits of solar power are significant. While the initial investment might seem high, the savings on electricity bills over the years make it a wise financial decision. With the rising cost of electricity from fossil fuels, solar energy provides a stable and predictable energy source. Once the installation cost is covered, the electricity generated by the solar panels is essentially free.

In addition to economic and environmental benefits, adopting solar power also supports energy independence. By generating their own electricity, individuals and businesses can reduce their reliance on the grid and protect themselves from power outages and fluctuations in energy prices. This self-sufficiency is particularly valuable in areas with unreliable electricity supply.

Conclusion:

To sum it up, the one-kilowatt (1 kW) solar panel price in India cap up around 25000 INR to 60,000 INR  making it a smart choice for those who wish to save on electricity costs and reduce their carbon footprint. With the government subsidies in place, individuals can make the switch to solar energy without breaking the bank.‍

Thank you for joining us for another edition of our blogs. We hope you found the information helpful and relevant. If you have any questions or would like to learn more about us, Please reach out to us at support@solnceenergy.com

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