Use of Solar Energy in Real Estate

Environment friendly solar solutions are finding business value among real estate developers around the world. In a study conducted by World Green Council in over 60 countries, real estate developers are moving towards solar energy solutions both in residential and commercial developments.

Developing countries like India where resources are few and needs are high, proper usages of solar energy can go a long way in solving the problem of depleting resources.

Growing our country in efficient way by using fewer resources, generating less waste, reducing pollution and preserving greenery are the only solutions to enjoy both economic growth and a good living environment, while there has been an increase in residential and commercial construction in India using solar energy, there is still huge untapped potential in this area where a lot can be done.

Solar energy can be a practical solution to our problems and this fact is now being understood by real estate developers across cities in India. The Jawaharlal Nehru Solar Mission has acted as a huge impetus for solar energy utilization in the country.

Real estate developers are keen to go for green solutions, with the knowledge of the benefits of such initiatives and also greater support in terms of government policies. Another major factor fuelling this momentum is affordability due to fall in PV Module cost.

 

There are several other reasons because of which developers are opting for solar projects. The significant ones are:-

·         Increasing prices of Grids.

·         Easily available rooftop spaces.

·         Incentives and subsidies given by Government for captive projects.

·         No hassles of maintenance and long life after installation.

Solar water heating is one of the most economically viable options in the use of solar energy and is used widely in many countries. In India real estate developers across various cities are also exploring the possibilities of this concept. The recently passed Renewable Energy Law will further encourage developers to provide clean sources of alternate energy with solar energy being the major source in their projects. It not only reduces construction cost but also provides a natural and healthy living environment.

 

Many builders have started to construct homes that are engineered to tap into alternate energy resources; small steps like this will not only reduce reliance on conventional sources of energy but also lead to sweeping changes in the way real estate and solar energy function.

Solar energy is all set to see a surge in India due to increasing demand, favorable policies, a large power deficit and high solar radiation, solar energy projects have started to compete with other forms of conventional energy sources like imported coal and gas, with the intentions of Government very clear on this it is expected that there would be a solar energy boom and developers in India have understood this and have started to implement solar energy in their projects.

To become an important source of energy in the future, solar energy industry and real estate industry need closely work together.