Best Solar Company in Mohali | Water Heater Installation in Chandigarh

In March 2015, Eco Solar Energies commissioned a 231kW rooftop solar project for a company based in Mohali Label Printing. Post commissioning, the owner of the company saw a dramatic reduction in their monthly electricity bills and is expected to save more than 7 cores at the expense of their power throughout the 25 years of their solar journey. Installing a solar system proves to be very helpful that the owners decided to expand their installed solar capacity by installing more 119kW.

With the example above, it is easy to access solar survival for any business in India. But apart from this, what other specific reasons that signal to the viability of solar for businesses based in Punjab, Let’s take a look at them below:

1. Solar Energy Potential of Punjab

Punjab lies in the same geography as Haryana and experience 230-300 sunny days in a year. That gives enough time for a bright year in the state-based business to generate electricity from solar power for all of their electricity needs. Solar potential in the state can also be understood from solar installation targets set by the state. As per the draft renewable energy policy proposed by the Punjab government in October 2019 in the target country to install a total of 3000 MW of solar power projects in 2030.

2. Increased Capacity Solar Energy Installation in Punjab

Solar energy installation in the state of Punjab has been a consistent rise in all sectors since 2012. The country has witnessed more than 100x the growth of installed capacity of the solar system on the roof; from zero in 2010 to 136.4 MW until 2019. Given that the solar system requires substantial investment and that it will cost solar is way higher ten years ago than it is today, this growth in capacity indicates the acceptance of solar by consumers in the country and its benefits experienced by them.

3. Favorable State Solar Policy

Like most Indian states, Punjab has a very favorable solar policy for commercial and industrial electricity consumers. Punjab Solar Policy eligible commercial and industrial consumers who go solar, to take advantage of accelerated depreciation of 40% on the cost of the solar system. This policy also allows customs and excise duty concessions on solar equipment and a 10-year tax holiday on a solar project. This policy provides a way out of the solar loans up to INR 15 Crore for renewable energy projects under priority sector lending. With the net-metering policy of the state, businesses can sell excess electricity generated to DISCOM at appropriate levels of certain rates stipulated in the policy.

4. Often Increase Electricity Rates in Punjab

Electricity tariffs followed the upward trend and have increased in Punjab as well. According to media reports in January 2021, Punjab State Power Corporation Limited has filed a petition with the power of state regulators seeking an 18% increase in electricity tariffs for consumers in the state. The increase will likely be announced in the coming months a similar rise in April 2021 approx. 2.15% applied only last year that affects consumers in all categories. Rate increases, even with a minimum percentage, it is not likely to affect consumers in the country with a lot, but because of the high power consumption of the commercial and industrial category, they increased spending on electricity by lakhs every year. Thus, the impact on the bottom line as well. Will freeze the increase in tariff solar, giving business owners some stability in business costs.

5. Positive Growth Potential for Business in Punjab

As per the report of the India Brand Equity Foundation, Punjab has the easiest procedure to set up business. It is the main hub for the textile-based industry, including yarn, readymade garments and hosiery. Its capital city of Chandigarh has evolved into a top spot for the booming IT industry and education in the country and cities like Mohali, Ambala, Panchkula, etc. have become fertile ground for SMEs and SMEs from each category. With the country’s annual GDP of about 6%, the country has a lot of offer as an opportunity for the business enterprise. And as the business grows in the state, the electricity will be important expenditures. With solar, businesses can save up to 80% of these expenditures and use their savings to further accelerate their growth.

Why Go Solar With Eco Solar Energies in Punjab?

Eco Solar Energies is the largest online rooftop solar platform and the most trusted solar partner for businesses in Punjab. It has proven excellence in designing, installing and maintaining solar projects of SMEs, MSMEs and large corporates across Punjab. With the focus on the end-to-end solar solution and world-class engineering, Eco Solar Energies Offers a one-stop solution for your rooftop solar needs in Mohali, Chandigarh and whole Punjab. Through Eco Solar Energies Solar Financing, the company is making solar easy for every business under the sun. Eco Solar Energies’s local presence in Punjab, with an office in Mohali, makes it the perfect solar partner for your business in the state.

Get in touch with Eco Solar Energies Advisors today. Call +91-78372-23202

+91-85580-88708 or write at info@ecosolarenergies.com.

Our engineering capability has enabled us to lead in the solar farm market, achieving target of installing 300+ solar power projects. We have teams working in different cities of Punjab, Mohali and Chandigarh.