Best Time For Solar System Installation:
“Embrace the best time for solar system installations. Benefit from discounted rates and upcoming regulatory advantages. Seize the opportunity to transition to sustainable energy seamlessly. Now is the time to power your future with solar.”
1.Huge Savings
The cost of solar panels has dropped to record lows in the Chinese market, with costs as low as $0.13 per watt, so according to market it is the best time for solar system installations. After falling by more than 49% from their peak last year. Due to the strong import pressure and the notable cost drop, Indian producers are now selling solar panels at a discount.
Also Read : How to Save Money on Your Electricity Bills in 2024
2. Implementation of the Approved List of Modules and Manufacturers (ALMM):
Net metering and government projects in India will only be able to use solar panels that are included on the ALMM as of April 2024.
3. Chinese New Year Slowdown: Best Time For Solar System Installations
February marks the Chinese New Year, during which production in China slows down significantly for nearly a week. This temporary supply disruption, combined with steady demand, typically results in price hikes in the solar market.
4. Post-Christmas Demand Surge: Best Time For Solar System Installations
Following the holiday season, demand for solar panels tends to increase as Western markets resume operations with fresh green energy targets for the new year. This surge in demand often leads to upward price trends in the subsequent quarter.
5. Depreciation Benefits:
With the end of the Indian financial year approaching, businesses aiming to claim depreciation benefits in their accounting books must install solar systems before July 31st. This deadline-driven demand is expected to boost project uptake and influence price dynamics.
6. Limited Global Stock:
The recent resolution of the solar panel stock issue has resulted in manufacturers holding limited inventory, typically spanning one to two months. This trend suggests an impending price increase in the near future.
7. Economic Sustainability Concerns:
Despite the current low prices of solar panels, the disparity between the finished product price and the collective cost of raw materials raises sustainability concerns from an economic standpoint. Manufacturers are likely to adjust prices to address this imbalance.
Considering these factors and the current market dynamics, it’s evident that the best time for solar system installation has arrived. Whether you’re contemplating a green energy initiative for your facility or know someone who is, now is the time to act. Reach out to us at Techno Sun Energy to secure the best deals for your solar power plant.
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