Why Solar Energy is the Best Solution for Businesses in Kolkata
The transition to renewable energy sources is no longer just an option for businesses—it’s becoming a necessity. With energy prices on the rise and global pressures to reduce carbon footprints, solar energy has emerged as the most viable solution for businesses looking to cut costs and be more sustainable. If you’re wondering why solar energy is the best solution for businesses in 2024, here’s everything you need to know about solar energy, from growing trends to how your company can benefit.
Growing Demand for Renewable Energy
The demand for renewable energy is at an all-time high. Global awareness of climate change and increasing governmental regulations on carbon emissions have pushed businesses to explore sustainable alternatives. Solar energy, a reliable and abundant renewable energy source, is leading the way.
In India, the renewable energy sector has experienced exponential growth. The country is expected to achieve 500 GW of renewable energy capacity by 2030, with solar energy accounting for nearly 300 GW of that capacity. According to the International Renewable Energy Agency (IRENA), the cost of solar energy generation in India fell by 82% between 2010 and 2020, making it the cheapest source of electricity today.
With increasing energy demands and escalating grid electricity costs (which have risen by about 4-5% annually in most states), now is the best time for businesses to switch to solar energy.
Why Should Businesses Use Solar Energy?
- Significant Reduction in Energy Costs
One of the primary reasons businesses are switching to solar energy is the substantial savings on electricity bills. Solar panels generate electricity from sunlight, reducing reliance on the grid and lowering monthly energy costs. By installing solar energy systems, companies can reduce their monthly electricity bills by 30-50%, depending on their energy usage. For businesses with high electricity consumption, this can lead to cost savings of upto Rs. 26,00,000 per 100KW, which can be reinvested in other areas of the business.
Even with an initial investment in solar panel installation, businesses can expect a payback within 2-3 years. After the payback period, the electricity generated by the solar panels becomes virtually free.
- Energy Independence and Reliability
In India, power outages and fluctuations have become very common, especially during the monsoon. Solar energy provides businesses with greater energy independence. By generating their own electricity with solar energy, companies can reduce their dependence on the local power grid and get consistent energy supply even during peak hours or outages.
- Environmental Benefits and Corporate Social Responsibility (CSR)
Sustainability has become an integral part of business strategies, with many companies striving to reduce their carbon footprint and adopt environmentally friendly practices. Solar energy is a renewable, clean source of power that does not emit greenhouse gases, making it an ideal solution for businesses aiming to meet their environmental goals.
Adopting solar energy can also enhance a company’s reputation. Clients and customers are increasingly concerned about environmental issues, and businesses that invest in solar power can position themselves as forward-thinking and eco-conscious. Studies show that 77% of Indian consumers are more likely to buy from companies with a clear commitment to renewable energy and sustainability.
- Government Incentives and Financial Support
To promote the adoption of solar energy, the government offers various subsidies, tax benefits, and incentives. Businesses can take advantage of these to reduce the initial costs of solar panel installation. For example, the Central Financial Assistance (CFA) scheme offers subsidies upto 40% of the installation costs for businesses installing solar energy rooftop systems.
Plus, companies that install solar power systems can claim accelerated depreciation, further reducing the financial burden.
- Low Maintenance Costs
Solar panels are known for their durability and require minimal maintenance. Once installed, they typically last 25 to 30 years with very little maintenance. Routine cleaning and annual inspections are usually all that’s needed to ensure optimal performance. This makes solar energy a hassle-free solution for businesses, allowing them to focus on their core operations without worrying about frequent maintenance costs.
- Increased Property Value
Installing solar panels on a commercial property can significantly increase its value. Potential buyers or tenants are more likely to be attracted to a property that offers reduced energy costs and long-term sustainability. This can be a major advantage for businesses in Kolkata’s competitive real estate market.
The Future of Solar Energy
The future of solar energy is brighter than ever, thanks to advancements in technology and falling costs. Experts predict that by 2030, the global solar energy market will be worth $223.3 billion, growing at a compound annual growth rate (CAGR) of 20.5% . In India, solar energy has the potential to account for 35% of the total energy mix by 2030, up from just 6% in 2020.
Moreover, innovations like floating solar energy panels and solar storage systems are making solar a more flexible and adaptable solution for businesses. The Indian government’s push for solar adoption—through initiatives like Solar Parks and KUSUM schemes—ensures a robust future for solar energy in the country.
By investing in solar energy today, businesses can position themselves for long-term success and remain ahead of the curve as the renewable energy landscape continues to evolve.
How to Get Started with Solar Energy for Your Business
Switching to solar energy may seem like a big step, but it doesn’t have to be complicated.
At PSPL Solar, we specialise in providing end-to-end solar solutions for businesses. From initial consultation to installation and maintenance, we take care of every detail to ensure your solar energy system is tailored to your business’s specific needs.
Whether you’re looking to cut energy costs, reduce your carbon footprint, or ensure reliable power supply, our team of experts will help design and install a custom solar system tailored to your needs.
Contact us today, and let’s discuss how solar energy can benefit your business. Our team will guide you through the entire process, from installation to maintenance, ensuring you get the best ROI on your solar investment. Start saving on your energy bills and contribute to a greener future with solar energy solutions from PSPL Solar.
