4 Factors That Helped Solar Power Become Affordable In The Last Few Years

Installing solar panels in industries to bring down the electricity bills and make a step closer to green energy is no more experimental. There were times when the commercial sector rejected offers to install solar panels on their premises. The demand was low and solar panel installation companies had no option but to increase the price to counter less demand.

Let's have a look at the factors that brought down the prices of solar panels, thus making it possible for the commercial sector to install it on their premises.

• The technology has become inexpensive

The price of solar modules has gone down in the last few years. However, it can get costly if you are planning on installing a solar power plant because here the costs of all the equipment and licences get included in the total expense.

• Banks are now flexible in approving loans foreseeing the rising demand

Banks hardly give a loan to companies that don't have a good credit record. A few years into the past, solar panel installation companies still didn't have the market and demand to increase production was on the rise. Hence banks found it difficult to approve loans to solar EPC companies. This is not the case now as banks grant easy loans to solar panel installation industries. Thus the interest rates that these companies have to pay are low and so is the cost that businesses pay to avail solar energy in their premises.

• Policies have been introduced that aim to make solar power affordable

One more reason that has brought down the price of solar energy is the worldwide demand for a green and clean energy source. The governments across the world have been taking necessary steps to avail solar energy to the commercial hubs in their countries at an affordable rate. Licenses are being easily given to solar panel installation companies as a part of government policy. As the competition increases, the cost of solar PV and availing solar energy is going down.

• Marketing is cheap now

Marketing costs have gone low in the last decade. All thanks to the Internet. The solar panel installation companies no longer have to pour money in advertising banners, and door-to-door salesperson. A website and the correct digital marketing strategies are enough to allure commercial sectors to the benefits of installing solar panels on their premises.

The market has a high demand and the prices are predicted to fall even more. However, if you are considering installing solar panels for your business, then it would be better if you take the decision to install it right away.

MI Solar holds a prestigious place among the top solar companies in India, offering the best solar EPC solutions. We are providing the best renewable energy services with 45 years of trust, commissioning solar power solutions of capacity as high as 120 MW.

The Working of Solar Panels Decoded

By now, we are all aware of the fact that solar power or the sun’s energy is undeniably the cleanest and the most reliable form of renewable energy.

This natural source of the sun’s energy is converted into electricity. However, how the process of conversion takes place is quite a mystery for many of us.

Obviously, the solar-powered photovoltaic (PV) panels convert the sun's rays into electricity by exciting electrons in silicon cells using the photons of light from the sun.

The basic composition of solar panels

So, let's start by understanding how the solar panels are made. Mostly, silicon is used because of its high availability on the planet. The inclusion of silicon with other elements forms a photovoltaic cell. When lot many photovoltaic cells are placed together, the result is a solar panel that is installed at many rooftops. There are of course several elements combined such as electric wires and inverter.

Sunlight contains invisible particles known as photons that come into contact with other particles and electricity is generated with the help of a device, commonly known as an inverter.

Solar panel installation

After a round of discussion with the consultants from the top solar companies, you will be able to determine the best fit as per your needs and of premium quality. And once you have made the selection, the next important question is the placement of the solar panel. The location for the solar panel could possibly be the surrounding of your building, its rooftop or solar canopy.

And, lastly, the number of panels ideally to be installed to generate the maximum solar energy is decided and installed in a couple of days.

And that’s not all. The best is yet to come-

The leftover electricity goes back to the grid

This is possibly the best way to judicially use a valuable resource called solar energy.

Ever imagined, what happens when the energy production is more than the amount of energy you consume?

Implementation of the power grid has many advantages, one of which is it allows you to use as much electricity as you need and send the excess power back to the utility company.

Great idea. Isn’t it?

Yes, you can store solar energy because we use the sun’s power in the day and in the night, when there is no production of solar power.

That’s why it’s important to stay connected to your utilities.

If you are thinking of greening your rooftop with solar panel installation, it is important to start your search for the top solar companies.

By making the right choice of the consultant, you receive the right guidance regarding the number of solar panels, their direction and the entire installation process.

Making the right choice is important to add years to the solar panels.

We, at MI Solar, are a group of experts that provide the best and affordable renewable energy solutions. Get a quote from our experts now.

4 Countries That Will Make The Most Out Of Their Renewable Energy Sources In 2019

As more gigawatt-scale markets are being established in countries across the world for renewables and storage, the global picture of renewable energy sources is getting much more diverse.

Here is a list of 4 countries where wind, solar and energy storage prospects will be worth keeping an eye on in 2019.

India

The Business Today in a December 20 post stated that in 2018, India surpassed 26,000 MW of cumulative solar capacity and has emerged as one of the world's largest markets for solar PV.

• India is one of the leading countries in the list of countries that are the largest producers of energy from renewable sources.

• As of 30 June 2018, renewable energy accounted for 20% of the total installed power capacity.

Argentina

Right now less than 2 per cent of the country's electricity is getting outsourced from renewable energy in Argentina. Sixty per cent of electricity is generated from fossil fuels.

However, Argentina's government is acting swiftly to change that. Recently, it announced what they are aiming at: producing 20 per cent of Argentina's electricity from renewable sources by 2025.

• Despite recent currency problems, various experts believe that new national net metering policies will excite the growth of distributed solar systems of up to 300 kilowatts across Argentina.

• The country has also been identified as a wind market to watch by Dana Younger, a chief renewable energy specialist at the International Finance Corporation.

Australia

A recent SBS News article stated: Over the next two years, the falling cost of renewable energy will result in Australians paying less on their electricity bills.

The Australian Energy Market Commission's annual report on electricity prices has forecasted average Australia's electricity bill to be 2.1 per cent lighter in June 2021 than it was in June this year.

This indicates a saving of about $28, as the average bill falls from $1367 to $1338.

• Australia is one of the bigshots in the solar market, and it will be interesting to watch it in 2019 too.

Solar EPC (Engineering, Procurement & Construction) companies have helped Australia in building a solar pipeline of more than 30 gigawatts, for fulfilling the country’s Large-Scale Renewable Energy Target, corporate power-purchase agreements, state auctions and merchant projects.

Brazil

A recently held study showed that Brazil's wind power output in the first half of December has increased by 7.3% year-on-year to 4,867 average megawatts (MW).

65% of electricity produced in Brazil is hydroelectricity. The Brazilian government is now planning to expand the share of biomass and wind energy as alternatives which are currently 6%.

• Brazil is known for its strong wind market. Now solar is the thing to watch out for in the Brazilian market.

• Auction prices are dropping and a desire for more market-driven solutions is on the rise. When it comes to renewables, many developers and suppliers see this as the largest area for growth.

MI Solar is the leading company in India providing the best solar EPC services and how customers can get added advantages from successful EPC implementation. Get a quote now!