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Is Buying A Solar Panel A Good Decision?

Buying A Solar Panel

Although the people are still facing many challenges, Pakistan has become a hot sun market. People are interested in installing a solar system, but they do not yet know its full potential, and little problems or investment decisions often frighten them.

The main concerns/problems of Pakistanis against solar energy are:

  • People think it is better to open a bank account and put your money there than to invest in solar energy.
  • Humans do not have the necessary space to install a solar power system. Most people in Pakistan live in rented houses, especially in big cities.
  • Some people say that their electricity bills are low, so there is no economic idea to invest in solar panels because the payment period will be longer. Even some giants also say that including famous water filter plant suppliers.
  • People need solar panel systems that can not only reduce their electricity bills but also charge batteries or make electrical appliances work in case of power outages.

Despite these problems, the speed of solar installations in Pakistan is staggering. In this blog, we will discuss the ideas that people have in mind before installing a solar system. It will help you make informed decisions about whether you are comfortable with solar power.

Solar Panel For Home 

This system has a capacity of up to 10kW installed indoors (as well as a battery system) suitable for being a solar home system. Deposits will be around the rupee. 1,00,000 per kilowatt. Electricity bills for a family are usually Rs. 1,000 per month, which is relatively better than any other option.

However, you must also go for effective diesel gensets for sale in case the system is damaged. Installing solar panels in these facilities can let you save Rs 8,400 per year. It is estimated that the repayment rate (payback period of investing) of this investment is about 10-11 years, and the return on investment is about 8%.

Solar Panel For Commercial Purposes 

The solar panels in Pakistan have a capacity of up to 25kW (on the grid), which can be installed in hospitals, factories, offices, leisure centers, schools, universities, exhibitions, air conditioning, petrol pumps, restaurants and meeting places, etc.

This investment a person has to bear will be about Rs. 50,000 per kilowatt. The cost of electricity reaches Rs. 25,000 per month. Installing solar panels in these facilities can save 14,000 rupees per year. It is estimated that the deposit rate of this investment is about 3-4 years, and the interest return is about 28%.

 

Final Thoughts 

Before investing in any kind of money, we must always be careful. Even before buying a small item, we weigh and weigh the pros and cons, so be careful before making an investment decision.

Remember, before investing in this, consider the risks and rewards associated with investing, time, and personal circumstances. Solar technology is becoming increasingly popular due to its high efficiency and rapid price reduction.

Few people in Pakistan have installed solar power for investment purposes. But in the near future, when the electric meter becomes a paid charge, solar energy will also be used for investment purposes.

Read more: Sustainable Business Ideas To Execute In Pakistan

 

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