If you are staying in a 2BHK, 3BHK, or any other medium-sized apartment with 2-3 ACs, a 5 KW solar panel for your Home will be sufficient to support your electricity needs. A 5 KW solar system for home is ideal since it can generate up to 20 KWh (units) of electricity. If you get six hours of moderate sunshine, a 5 KW solar system can easily power your electrical equipment, such as Air conditioners, washing machines, geysers, ovens, and refrigerators.
The best part is that a 5 KW solar panel price in India is also within the affordable range of most middle-class families in India. However, if your electrical consumption is more than 20 kWh per day, you should go for a higher-capacity solar system. It’s always a big financial decision for a family to invest in a solar panel. Hence, you must make up your mind in your choice of a 5 KW solar system for home. This article will provide enough ideas to help you make an informed decision.
5 KW Solar Panel Price in India
Purchasing a solar energy system for Home is always a wise and long-term investment. The Indian government also promotes renewable energy production, as its mission is to make the country a green economy. Therefore, they are making it easier for homeowners to use renewable energy by providing an attractive subsidy.
Considering solar subsidies and easy financing options like solar power purchase agreements, an excellent 5kW solar panel price in India with government subsidy can drop significantly. For example, a 5kW solar panel for a home can cost anywhere between Rs 72,000 and Rs 1.2 Lakhs per kw. So, the total price of a 5kW will be around Rs 3.5 Lakh to Rs 6 Lakhs. This price doesn’t include any subsidy the government provides for installing a solar panel for the Home. The price mentioned here is just approximate to give you an idea. The actual cost will be known only after the seller visits your site and shares their proposal with you based on any customizations that you may need.
Other factors affecting the final price
Other factors also affect the final 5kW solar panel price in India. For instance, it may depend on location, type, efficiency rating of solar panels and particular brand of solar components used. Besides, government subsidies will further lower the final price of solar panels.
Government Subsidy on a 5kW Solar panel in India
Since the Indian government encourages renewable energy, it provides subsidies to make solar panel purchases affordable and more rewarding for homeowners. The type and capacity of a solar panel for the Home you choose will determine your eligibility for availing subsidy and the actual 5kW solar panel price in India.
In India, the Ministry of New & Renewable Energy gives a 20% subsidy on solar panels for Homes starting from 4kW to 10 kW capacity. It’s important to note that the subsidy is only available on hybrid and 5kW on-grid solar systems because no subsidies are available for Off-grid systems.
Having read this article, you may have realized that purchasing a 5 KW solar system for Home makes a lot of sense. So, what are you waiting for? Go and choose the best solar power system for your Home.