The world is talking about the need for solar systems in the modern era. The adoption of renewable energy resources, especially solar energy, can solve many problems we face while living in a country like Pakistan. These problems include untimely, unannounced load-shedding, power cuts, and highly-priced bills.
Apart from that, solar power contributes to preserving the environment. It negates or reduces the dependency on fossil fuels, ultimately cutting off the damage caused by them. But, little do we know or realize that solar systems can also serve us as a worthy investment. Just keep reading this article, and you will know how solar energy is an investment carrying great worth.
THE MECHANISM OF INVESTMENT IN SOLAR ENERGY
Now to understand the gist, let’s discuss an investment. Investment is anything in which you put a certain amount of money, hoping to earn profits. Or we can say that investment provides an ROI (Return on Investments). Now, let’s link this explanation with what we know about solar energy.
SOLAR’S LINK WITH INVESTMENT?
By adopting solar energy in our homes, offices, etc., we start making our electricity. The installation process of solar systems is not so costly (if we compare its utilities of one-time installment with the monthly bills we pay), and the overall usage plays to your benefit. You don’t have to pay expensive bills since you are directly dependent on the sun, i.e., solar energy, and the sun does not have any feeder trips (pun not intended). Instead, you save a considerable amount of money and can use it further for your other ventures.
RETURN ON SOLAR INVESTMENTS
Not only this, but you can also get ROIs on investment in solar energy. And who is going to give you that? K-Electric. Or whoever provides you electricity. Let’s dig a bit deeper.
Upon installing a solar system installed on your rooftops, you decide the variant according to your average units use. A meter installed alongside your conventional electricity meter calculates your units created with the help of solar energy. Now, if there are some excessive units of electricity that your solar power system has produced, this is where you earn. Next, you sell those extra units back to K Electric or the company providing electricity in your locality. Moreover, those excessive units are sold at the same price of electricity prescribed by the government at that time. The amount received is then adjusted in the units of electricity you use by K Electric when solar energy is not available. For instance, solar energy is not produced at night, or on rainy days.
YOU CAN SELL YOUR ELECTRICITY!
Adjustments occur each month until your excessive units exceed the units you need. If this occurs, your electricity bills go negative. It actually means that now K Electric is indebted to you, and they will have to pay you. This way, you earn returns on the investment you made by installing solar energy. As estimated by professionals, at an average home in Pakistan, it takes approximately 3.5 years to start earning ROI on solar energy investment!
INCREASE IN PROPERTY VALUE
Solar energy can raise the value of your property. If you install a solar system at your house, you become free of electricity bills in approximately 3.5 years (as per the Pakistani market). As discussed, it also gives you a return in negative bills due to extra units generated.
So, a house where these panels are installed, and there is no concern for the owner regarding increasing electricity prices, will indeed be valued more than other houses in a locality. To further illustrate, by adopting solar energy, you are indirectly investing in your property, giving you a valuable return.