5kw solar panel price with subsidy in Kerala

Empowering Kerala: 5kW Solar Panel Price with Subsidy Benefits (2024)

As the global shift towards renewable energy continues, Kerala is leading the way in India’s solar revolution. The state government, along with the Central government, is offering significant subsidies to encourage solar adoption, making solar panel installation more affordable than ever. This article delves into the 5kW solar panel price in Kerala and explores the subsidy benefits that can significantly reduce your investment costs.

5kW Solar Panel Price in Kerala (2024)

The price of a 5kW solar system in Kerala can vary based on the quality of solar panels, the installation provider, and additional factors like warranties and inverters. Below is a general estimate of the costs:

- Basic/Standard Quality: ₹2.90 lakhs to ₹3.50 lakhs (approximately $3,625 - $4,375 USD)

- Premium/High-Quality: ₹3.80 lakhs to ₹4.50 lakhs (approximately $4,750 - $5,625 USD)

These prices include installation but may vary slightly depending on the location, brand, and the complexity of the installation. Always ensure to get quotes from multiple suppliers to find the best deal for your needs.

Government Subsidy for 5kW Solar Panels in Kerala

To support the transition to renewable energy, the Central government offers subsidies for solar panel installations under the PM Suryaghar Yojana. This scheme, managed by the Ministry of New and Renewable Energy (MNRE), provides significant financial assistance for solar panel systems, making them more affordable for homeowners.

- Subsidy for 5kW Solar System: A subsidy of ₹78000/- is available for a 5kW solar panel system under the MNRE scheme.

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This subsidy helps to lower the upfront cost of solar panels, making the investment more appealing for homeowners looking to save on electricity bills while contributing to a greener future.

Net Cost of a 5kW Solar System After Subsidy

After applying the government subsidy, the net cost of a 5kW solar panel system in Kerala becomes much more manageable:

- Basic/Standard Quality: ₹1.72 lakhs to ₹2.32 lakhs (approximately $2,150 - $2,900 USD)

- Premium/High-Quality: ₹2.62 lakhs to ₹3.32 lakhs (approximately $3,275 - $4,150 USD)

The government subsidy can reduce the total cost by up to 30%, making solar energy a more affordable and cost-effective solution for households in Kerala.

Key Benefits of Installing a 5kW Solar System in Kerala

1. Significant Savings on Electricity Bills

A 5kW solar panel system can generate approximately 20 to 25 units of electricity per day, depending on weather conditions and location. This is enough to power a medium to large-sized household, resulting in substantial savings on monthly electricity bills.

2. Return on Investment (ROI)

With the reduced cost after subsidy, the return on investment for a 5kW system is quite high. On average, homeowners can expect to recoup their initial investment within 4 to 6 years, after which the savings on electricity become a long-term benefit.

3. Environmentally Friendly

Switching to solar power is one of the most effective ways to reduce your carbon footprint. Solar energy is renewable and generates zero emissions, making it an eco-friendly choice for environmentally conscious consumers.

4. Net Metering

Kerala offers a net metering policy, allowing homeowners to sell excess electricity generated by their solar panels back to the grid. This means you can earn credits on your electricity bill, further reducing your monthly costs.

5. Energy Independence

With solar panels, you can produce your own electricity, reducing your reliance on the power grid. This provides a buffer against rising electricity prices and ensures a consistent power supply, even during grid outages.

Factors to Consider When Installing a 5kW Solar System

1. Choose MNRE and KSEB Approved Vendors

To qualify for government subsidies, ensure your installer is approved by the Ministry of New and Renewable Energy (MNRE) and the Kerala State Electricity Board (KSEB). This also guarantees that the installation complies with the highest industry standards and ensures that you receive the full benefits of the subsidy.

2. Solar Panel Quality and Efficiency

There are various types of solar panels, each differing in efficiency, durability, and warranty. While standard-quality solar panels may be cheaper, investing in high-quality, efficient panels can offer better long-term savings due to higher energy production and durability.

3. Warranty and After-Sales Service

Check the warranty on the solar panels, inverters, and installation. Typically, solar panels come with a 25-year performance warranty, while inverters have warranties ranging from 5 to 10 years. Also, ensure the installer provides adequate after-sales support.

4. Roof Space and Suitability

A 5kW solar system requires ample roof space for optimal installation. On average, it needs around 400-500 square feet of shadow-free space to perform efficiently. Work with your installer to evaluate whether your roof is suitable for installation.

5. Battery Storage for Solar Power

Adding battery storage to your solar system allows you to store excess energy generated during the day for use at night or during grid outages. While this increases the overall cost, it can further enhance your energy independence and security.

Why a 5kW Solar System is a Smart Investment in Kerala

Kerala’s abundant sunshine makes it an ideal location for solar energy production. The state’s push towards renewable energy, coupled with the government’s financial support, makes it a prime time to invest in a 5kW solar panel system. With rising electricity costs, switching to solar power ensures long-term savings while contributing to a sustainable, green future.

Conclusion: Solar Power – A Path to Savings and Sustainability

Investing in a 5kW solar panel system in Kerala is not only a smart financial decision but also a step toward energy independence and environmental responsibility. With the MNRE subsidyMNRE Subsidy reducing the cost by up to 30%, solar energy has never been more affordable. By opting for government-approved vendors, choosing high-quality solar panels, and taking advantage of net metering, you can maximize the benefits of your solar investment.

Start harnessing the power of the sun today and secure your future with sustainable energy.

Frequently Asked Questions (FAQs)

1. How much electricity can a 5kW solar panel system generate?

   - A 5kW solar system can generate between 20 to 25 units of electricity per day, depending on weather conditions and location.

2. How long does it take to recover the cost of a 5kW solar system?

   - On average, homeowners can expect to recover their investment within 4 to 6 years through savings on electricity bills.

3. Can I install a 5kW solar system if my roof is small?

   - A 5kW system requires around 400-500 square feet of space. If your roof is smaller, you might need to explore smaller systems or other installation options.

 - MNRE: https://www.pmsuryaghar.gov.in/

- KSEB: https://ekiran.kseb.in/

Empower your home with solar energy today and join Kerala in leading the charge towards a cleaner, greener, and more sustainable future.

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