Assessing the Economic Feasibility of Solar Power Adoption at the Household Level: A Case Study

Abstract: The shift towards renewable energy sources is crucial for India's sustainable development, with solar power standing out as a practical alternative to traditional electricity. This analysis assesses the economic viability of adopting rooftop solar systems in Indian households using a survey-based approach. A total of 200 survey responses were gathered to evaluate energy consumption patterns, awareness of governmental policies, and the financial readiness to invest in solar energy. The results indicate that 74 participants demonstrated a significant interest in the adoption of solar energy, whereas 158 individuals acknowledged the presence of current government initiatives aimed at encouraging solar adoption. Financial limitations and insufficient technical expertise were identified as significant obstacles, whereas long-term savings and environmental advantages emerged as the main driving forces. The findings emphasise the necessity for enhanced financial incentives, awareness initiatives, and better access to solar technology to promote faster adoption. Government-supported net metering policies, subsidies, and tax incentives are essential in ensuring that solar energy is financially feasible for households. The results show that using solar energy in homes can be good for the environment and your wallet, as long as the right support systems are in place. This will lead to a big drop in the use of nonrenewable energy sources. Keywords: Focus of residential solar, importance of battery storage, economic analysis, Policy implications. Title: Assessing the Economic Feasibility of Solar Power Adoption at the Household Level: A Case Study Author: Dr Hemachandran Ravikumar, Mrs Sakunthala Chinnasamy International Journal of Electrical and Electronics Research ISSN 2348-6988 (online) Vol. 13, Issue 1, January 2025 - March 2025 Page No: 1-5 Research Publish Journals Website: www.researchpublish.com Published Date: 14-March-2025 DOI: https://doi.org/10.5281/zenodo.15026144 Paper Download Link (Source) https://www.researchpublish.com/papers/assessing-the-economic-feasibility-of-solar-power-adoption-at-the-household-level-a-case-study