What is Solar Net Metering?
Government of Maharashtra has declared a new policy in solar that is “Solar Net Metering”. Which simply means that we install Solar Power Pack system on our terrace, generate our own electricity & feed into state electricity board and reduce our electricity bill by the number of units we export. It is an great opportunity to invest into renewable energy for our sustainable future and reduce our electricity bill.
Elimination of Battery Bank
Earlier battery bank was required to store the power and use the electricity as and when required. But due to battery, system cost increases and maintenance cost is recurring & high. Life of battery is not more than 5 years which means after every 5 years invest into new battery bank, which hampers the ROI. Optimum usage of system is not possible.
But with the new policy of Solar Net Metering, battery has been completely eliminated. That means low cost of system, nearly zero maintenance cost, life of system is 25 years andearly payback period.
As an icing on the cake, government has declared a 80% accelerated depreciation on Solar Net Metering System. Which means it will save our Income Tax by approx 25% of investment. But the benefit is only for limited period, therefore need to act as a go getters, foresee the benefit and take advantage of the opportunity.
Encash the Opportunity
Therefore, encash the opportunity by taking the maximum benefit of the policy for a better sustainable future.