Solar panels have been gaining popularity among consumers for several reasons. Over time people are getting more aware of this renewable energy. Solar energy helps reduce carbon emissions and decreases your electricity bill. There are many other benefits of using solar panels; these include the possibility of tax credits and rebates, the need to protect against power outages, and the environmental impact. Despite the many benefits associated with solar in Pakistan, there are also some drawbacks.
Tax credits and rebates:
Rebates and tax credits are a great way to encourage consumers to purchase solar power. Many local governments offer these incentives for solar power systems, and some even provide up to DH 0.20 per watt of energy saved. Rebates are also available from state governments; in some cases, utilities will give back a percentage of the cost of your system as a tax deduction.
The government provides incentives for home energy efficiency upgrades:
The government also provides incentives for home energy efficiency upgrades. In addition to solar panels, consumers can get tax credits and rebates for installing heat pumps, which can help lower heating and electricity bills. Additionally, the federal government provides financial incentives for businesses and homeowners to install energy-efficient appliances.
Protection against power outages:
There are many reasons consumers choose to install a solar power system, but one of the most important is protection from power outages. These outages can occur for various reasons, including natural disasters and normal things like bad weather. However, a solar power system is designed to function in the event of an interruption to power lines and supply electricity to a limited number of appliances. This battery backup allows solar-powered homes to continue using their power even during a power outage.
Another important reason for going solar is the reduced cost. Installation costs have dropped by 60 percent over the last decade, and the industry has been expanding into new markets. Most recent solar prices are around DH 16/MWh, which are competitive with all other forms of energy generation.
Consumers purchase solar power for various reasons, including the desire to save money on their electricity bills. The environmental impact of solar power is also a motivating factor. Millennial and Gen-Zers are particularly concerned about the environment and are more likely to switch from traditional energy sources to solar.