Generally, the power consumption of a home is 10 to 15 units per day and 400 to 500 units per day. The average electricity rate of residential consumers is Rs. 8 to 9 units which includes fixed charges, services, and GST. That means the monthly electricity bill of a home in India is Rs. 3,000 to 4,000 per month. If I talk about the sanctioned load of a domestic consumer is 1kW, 2kW, 3kW, 5kW, 8kW, 10kW, and more. Now, the main question is
How can you save electricity bills of your home?
There are multiple ways to reduce electricity consumption through which I would like to share a few ideas for saving your electricity bill which is AMG: Here, A means Avoid, M means Minimize & G means Generate.
1. Avoid – You must avoid the excess energy of a home as much as you can.
2. Minimize – Do not run unwanted equipment instead choose the equipment with the latest technology and gradually start replacing old equipment that consumes a lot of electricity.
3. Generate – Many electrical appliances run on AC power and some appliances run on DC current. There are many ways to generate electricity using natural resources such as sunlight, water, air, etc. Through which electricity can be produced. Solar panels are the perfect option which can generate electricity by installing them on the roofs of a home. A solar water heater is also an option to heat water. This means that you can generate your own electricity from the empty roof using solar panels.
Now, let us understand
How much capacity of solar panels is required to save electricity bills?
Generally, a 1kW solar panel generates up to 4–5 units of electricity per day and a solar panel works for 300 days out of 365 days. That means 1kW solar panels can generate 1200–1500 units in a year. If I talk about yearly consumption of a home is 4800 – 6000 units per year. If any consumer installs a 3kW to 5kW solar panel then electricity bills will be reduced up to 80% on a daily, monthly, and yearly basis.
Now, the second question is, if you have an electric car from any electric car manufacturer such as Tata, MG, Hyundai, or any other brand and its battery capacity is 32kW to 45kW that means, if you charge your electric car at 100%, you need 32 – 45 units per charge, and you can calculate your electricity bill per charge. I met one of our consumers in Kerala. He has an MG Electric Car with 42kWh battery capacity. He drives 4000 km per month. He pays 15000 electricity bill of 2 months for the entire home. Before buying an electric car, he was paying rs. 3000 per month but now, he is paying Rs. 7500 per month. He has installed an 8kW grid solar system on his rooftop area. And now, he saves 7000 to 8000 per month in Kerala.
Can I get a solar subsidy for rooftop solar installation?
Yes, the central government provides solar subsidies for rooftop solar installation in the residential sector. Below is the subsidy amount slab-wise:
Can I install solar panels on Easy EMIs?
Yes, you can install solar panels on easy EMIs like home loans, car loans, and more. You need to pay only a 20% down payment and the rest of the amount you can pay on monthly EMIs/Loan.
How much is the price of solar panel installation?
The price of grid-connected rooftop solar panel installation is Rs. 60,000/kW and if you install 3kW on grid solar system including everything such as a net meter and all installation work, it will cost you Rs. 1,80,000.
I think you have an idea about how you can save electricity bills of your home. Now, the question is, which company will be giving the complete solar solution? Loom Solar is a rooftop solar company that provides the best quality solar system products such as solar panels, lithium battery, solar inverters, and installation accessories. We also provide rooftop solar finance at the lowest interest rate and solar consultancy as well.