Are Solar Pannels Worth Investing?
Today I went to the salon for a haircut. After I bathed, I rested on my Parent’s bed.
As I rested, I went through my mobile and watched some Facebook videos.
A solar panel video came up, and I was watching it. After some time, I checked the comments section to see what users were saying about it… It’s a good way to get other opinions on the topic.
I didn’t watch the full video; I just opened the comment section. I learned that each KW costs 65,000 rupees.
In my home, we are using a 6 KW connection. I roughly calculated how much it could cost me for my house based on the price.
So, 6*65000=3,90,000
I believe this cost doesn’t include MS fabrication work.
I’m just roughly calculating here… I may be wrong here.
Our current power bill comes to around ₹2,000 without any free government offer.
So, as per some user comments, it’s better to keep the same amount in FD instead of getting a solar panel.
If I calculate ₹3,90,000 for a 7% FD interest rate, it comes to around ₹27,300 just on the interest rate. Keeping the same deposit on a senior citizen account will give you an even better interest rate. Let’s consider only 7% for now…
27300/12=₹2,275
₹2,275 per month, you will get on just interest rate alone. Which is more than sufficient based on our current consumption.
And one more important factor you need to consider with solar panels is… You must clean the solar panels almost weekly or monthly to improve efficiency.
This is one of the major downsides if you ask me.
Usually, only well-settled users prefer to go with solar panels. Having solar panels means they will add monthly cleaning solar panels to their To-do list. Which is something I personally don’t like to do.
I’m not calculating any maintenance issues, time spent maintaining it, or any damages that could happen during the panels’ lifetime.
Based on all the pros and cons, and as far as I understand, I now think twice before installing a solar panel.
I have also written a similar kind of article on having a borewell, titled The Real Cost of Having a Borewell in the House. Do check out if you have a dilemma about whether to have a borewell.