It is certainly a very contented feeling where you are contributing towards society, whether in the form of opting for environment-friendly methods, by generating employment or through promoting sustainability. Likewise, if we install a solar panel and generate and use electricity from it, it would be beneficial for us as well as for the environment. You can easily get solar for your home, workplace, or any other place. Listed below are a few benefits stated of working with solar energy –
Prices do not increase when the high demand
It is a very common connotation that prices of any service/product tend to increase with the rise in their demand. The price of electricity touches the sky when higher in demand. Whereas in the case of solar energy production, prices are lower when the electricity demands is at its peak.
Once you have invested money initially in buying and installation of the solar panel, it becomes such an affordable source of generating electricity for you. It has no impact while the prices in the market are fluctuations as per high or low demand. No extra costs is there once you install the solar panel at your place.
There are a few times when there are losses in the distribution of energy. This most often happens when the distance between the places of production and the place of supply is more. But when a renewable source of energy is used to generate electricity then would only results in profits taking place.
Tax benefits and subsidies
For installation of the solar panel, you can get back the amount back which you paid for as Input tax credit. This can easily result in paying lower taxes. So there is a win-win situation in all of the cases. The government also supports by providing subsidies in such a scenario. There are other tax benefits also provided by the government apart from input tax credit. Basically, government itself is trying to promote its usage for generation of electricity.
It is a step towards a better society which you will make by installing solar panels at your workplace, houses, Universities. This would result in more jobs generated locally which can provide livelihood to a lot of people.