The Government of India has targeted to generate 175 GW electricity from renewable sources, out of which 100 GW will be of solar power by 2022. The cost of producing energy from the Sun is much lower than any other type of electricity. This is a brilliant way to provide affordable electricity to the country's population.
Contribute in the electricity need of rural population
In India, only 71% of total village households have the facility of electricity. Still, there are 50 million rural homes that do not have access to electricity. So, the demand and need of solar-power infrastructure in rural areas are huge. So, one of the best solutions to provide adequate energy to power homes and businesses throughout the day, is solar energy.
There are areas like power-starved rural areas, where different individuals and businesses participate in initiatives such as Jawaharlal Nehru National Solar Mission to promote solar power and provide solar energy to the country’s population.
Venture into rooftop solar power market
You can even invest in the rooftop solar market. This is one of the fastest growing segments in India. In the financial year of 2016, 227 MW system were added, but in 2017, India added nearly 715 MW systems. If someone use rooftop solar energy, it will result in 30% savings on electricity bills for businesses. You can even rely on rooftop solar business through a third-party financing model. You can take the help of finance for engineers and fund the entire cost. You must be aware that the cost of development of a 5KW rooftop solar panel can go as high as Rs.7 lakhs. So, this can be easily handled with a loan.
To know about the other factors, read: How to Make Money in the Indian Solar Energy Market
