On-grid solar systems
On-grid solar power systems generate power using a solar power system and are directly connected to the utility power grid. These systems send excess power generated by the solar power system to the utility grid and consumers get compensated for the extra power fed back. These systems work in collaboration with the power grid. In the case when there is not enough sunlight to meet your business’ needs, the system runs on the power supplied by the grid. These systems are best suitable when your power consumption is high and you wish to reduce your electricity bills. On-grid systems can be installed with or without net metering. Being connected to the main grid, these systems do not work during power outages.
Businesses can rely on on-grid solar systems to meet their daily requirements, as well as earn income from the excess power generated. On bright sunny days, buildings can generate enough solar energy to power appliances, lights, water heating systems, etc.
- On-grid solar systems are very cost-effective and easy to install.
- Businesses can recoup the cost of their investment by offsetting electricity bills in just 3-8 years. If a private, commercial or industrial building sets up a solar PV rooftop system it will be eligible to avail an ‘Accelerated Depreciation Benefit’ which is currently 80% in a year. At this rate, a business can completely depreciate the whole value of the project in approximately 4 years.
- Residential users and business owners can earn a passive income for the surplus energy generated by the system.