Why Investing in Solar Energy is a Smart Decision in Recession

Majority of Indian households have always heard elders of the house saying “Plan your saving, you never know when it might need in an emergency”, and yes savings and investments has always been a part of our culture and lifestyle.

Even today in the year 2020, the most important things that this crisis due to COVID-19 have taught us the cost of running a household is far less than what we estimate. Hence this ideology will continue at least for a while as we need to adopt minimalism, and smart saving options to deal with this pandemic.

There is the latest talk about recession due to the Covid-19 as a pandemic. It is indeed one of the worst times the world economy has ever witnessed in the last 100 years. Investment is all about rationality where smart investors can use this time as an opportunity to learn and invest smartly, which will not only help today and for better tomorrow.

Everybody is trying to create financial stability, and in all these fluctuations and uncertainties, there’s one reliable variable you can count on: SolarSmiths Solar power systems. Which is a reliable investment and provides substantial electric bill savings; this can be the best investment solution one can plan in crisis.

Below are some reasons why energy experts believe that solar investment is a must now:

1. Consistent returns

Even when the economic situation is not stable in the grip of a recession, reduced supplies due to manufacturing firms shut. Due to incoming inflation, your solar investments are the only thing which is promising you a lower risk and offers you stable returns that are not only for today but for the long term. Hence would keep coming even in an economy that’s directly related to inflation.

The International Energy Agency is predicting that solar power energy would be the most predominant source of energy by 2040. Before the prices increase, it might be a good option for you to invest, right at the start.

2. Electricity cost savings

Recessions are inevitable, and it is also normal for the price of electricity produced from non-renewable sources to trend upward over time. But with roof solar power systems, this is a different story.

Modern photovoltaic panels generate power for 30 to 40 years, and it’s easy to predict how much energy a solar array will generate based on the number of panels installed on your rooftop.

Here you don’t have to purchase electricity from the utility. At the same time, a net metering policy will accommodate your utility to purchase any overflow of electricity your solar power system produce than your home uses; your utility will pay you for it.

Here you are not only earning solar power cut down your electric bill, but they also have the potential to make you gain some extra money!

When you put less money towards your recurring cost electricity bill every month, you have savings now to invest in towards essentials which are valuable during a recession.

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3. Reduced Interest rate and various easy loan facilities

As per the Ieefa report has suggested the cost of generating electricity from solar will be near zero in the world’s sunniest regions by 2030-40.

For the people who are solar shoppers and lack the capital for a cash purchase but want to increase their financial benefits of the solar power system, the solar loan offers the perfect solution.

The solar loan can save up to 40-70% over a lifetime period of your solar panels

There are also 0 INR down payment facilities which allow you to finance the total amount of solar system.

There are many other private agencies other than traditional banks who are offering various Green loans

The solar loan will provide you immediate returns by saving your cost of electricity even as you repay the loan

Lower interest rates will result in the overall costing

4. Sun is the most reliable source

There can be a drop in the prices of real estate, fluctuation in stock exchange market but one thing which will state consistently is SUN. Solar is one of the safest investments one can make, especially in such a time of recession. Here you have assured savings regardless of the status in the stock market environment.

Even though it requires some significant upfront costs, solar can save you substantial amounts of money.

5. Participate in social responsibility

Along with your savings investing in solar power will also provide you with the chance to contribute to social wellness. In-country like India it will reduce pollution which is produced by the use of fossil fuels, but also it reduces carbon emissions.

As it is estimated the deaths might go up to cover 1.7 million people, by 2030. Hence, it might be a great option to shift solar power systems.

Conclusion

Looking at the promising future and present by Solar energy in crisis also hope now you are aware of its long term advantages and benefits which you can gain—planning to Go Solar! Why wait?

Connect SolarSmiths where our solar experts will help you to learn how can you regain your energy independence and save more so that you can confidently face any pandemic.