Do you live in a housing society?
Housing Societies are a big guzzler of Electricity. They pay hefty electricity bills and have a high carbon footprint. Societies can easily reduce electricity bills to near Zero by going Solar. Most of the societies have ample space on the rooftop, but the high upfront cost makes it difficult to go solar. SolarGain is an initiative by GOSOLGEN to ease Solar adoption by housing societies.
- Sign a SolarGain Contract with us
- Fix your ever increasing Electricity Expense to a constant for 10 years
- You pay to us 10% lesser than your existing Electricity monthly expense
- Zero Investment
- Security Deposit equal to 2 months payment
- No hidden Charges
- After 10 years, the Solar Assets are transferred to the Society for Free
- Any Resident of the housing society can invest in the Solar Power Plant
- Get an assured return of 12% per annum
- Individual Investment Amount from 1 Lakh onwards
- You become part owner of the Solar Assets setup on your Society rooftop
- Your investment amount is paid back in full after 10 years
- Sign a SolarGain-Investor Contract with us
- We organize the whole process end-to-end including the signing of all contracts, Setting up Solar and maintaining the Solar Assets for 10 years.
- After completion of the Solar Asset transfer to the Association, the Association can sign us up to maintain the equipment for the next 10 years.
- Minimum Monthly Electricity Bill Should be Rs. 20,000
SolarGain FAQ Society Related
Most frequent questions and answers
Ans. GOSOLGEN takes the responsibility of supporting the system. For some reason if the system goes down, Society would continue to pay only the agreed amount to GOSOLGEN. GOSOLGEN would resolve the issue and get the system up and running.
Ans. In OPEX model you pay for the Solar units generated by the system at a fixed rate or with yearly escalation, whereas you pay a fixed amount for SolarGain that is 90% lesser than your existing Electricity Units bills. So, you get predictability and peace of mind that the electricity charge is never going to increase.
Ans. At the end of 10 years, GOSOLGEN transfers the Solar equipment to the Society for Free and society can continue to get the benefit from the Solar plant and literally get free electricity for the rest of the life. Society may ask GOSOLGEN to continue to maintain the equipment at an agreed fee.
Most frequent questions and answers
Ans. We provide you the total cost of equipment including installation and support. You provide us
LOI (Letter of Intent) with the amount you intend to invest. We use the following rule: Once we receive all investors LOI for a project along with Booking amt, we decide the allocation on a first
come first serve basis. Once decided, it is communicated to everyone to sign the agreement and submit your allocated amt.
Ans. You can apply for exit after 3 years of lock-in period. Your principal amount will be returned within 3 months. We will continue to pay you the monthly amt as per agreed interest rate till we pay you back the principal amt.
Most frequent questions and answers
Ans. Solar Panels work on the phenomenon called the Photoelectric Effect to produce electricity.
Solar Panels are nothing but blocks of specially designed semiconducting material which produce electricity when light falls on them. The electricity produced from multiple solar panels is combined and converted to electricity suitable for everyday consumption.
Ans. Solar PV System is a static system i.e. it does not consists of any rotating or moving parts. So it is not prone to any kind of damage caused due to the friction between the moving parts or any other mechanical phenomenon that causes damage to a generator or a motor. A Solar PV System can easily last for 25 years and can even work for a longer period if maintained properly.
Ans. A Solar PV System requires very minimal maintenance from the owner and is very easy to maintain. Regular cleaning of the Solar Panels should be ensured so that the system works at its full
efficiency and occasional checks should be done to ensure that there is no shading over the Solar panels because of any obstruction. These small steps can result in a healthier and longer life span of your Solar PV System.
Ans. Yes, it is true that the only electricity producing unit in the system are the Solar Panels and having other components adds to the cost of the system. But the electricity produced by the Panels is in D.C. form and have to be converted into A.C. form to be able to be used by the consumer. Also a proper and safe flow of the electricity needs to be ensured so that no damage is done to the appliances used or the consumer using it. This is why additional components are added to the system to ensure better reliability of the system.
Ans. A Solar PV System doesn’t require direct sunlight to be able to work, though direct sunlight gives the maximum efficiency. The system continues to work even during the overcast conditions but the efficiencies are going to be reduced to some extent. The efficiency generally reduces to 70% during an overcast day. But in a place like India which receives more than 300 sunny days per year overcast conditions is not a major concern.
Ans. In a Solar Rooftop System, the major investment is the equipment cost and has a minimal maintenance cost and no fuel cost. A Solar PV System has average pay back period of approximately 4 to 5 years. With the life span of a PV System as high as 25 years, more than 75% power produced by it may be considered as the free electricity.
Ans. It is mandatory for a Solar PV Setup to have a shade free area all the time of the day. The most important factor on which the area of a Solar PV System depends is the Panel Efficiency. Generally, a Solar Panel with 15% efficiency requires 100 SFt. of shade free roof area.
Ans. Counterintuitive to the belief among the people, an increase in the ambient temperature around the Solar PV System results in decrease in efficiency of the system. It is to be noted here that though PV Systems work on the energy from the sun, they work on sun’s light energy and not on its heat energy. But the increase in temperature may result in lesser output voltage produced by the system which in turn results in the decreased efficiency of the system.
Ans. Shading has a very large impact on the performance of a Solar PV System. Since a Solar Panel is made of large number of Solar Cells, shading on a small part of it can reduce the energy produced by the rest of the Solar Panels. Therefore, it is mandatory to install the system in a shade free area.
Ans. Net metering is the process through which you attain a “dual-benefit” by installing a solar power plant on the roof the building to generate electricity. Generated power is first used in the building as per the requirement and the surplus power is fed to the grid of electricity utility company (DISCOM). A bi-directional meter is installed in the supply line to register import and export of power. Net metering arrangements, thus, combine elements of captive power consumption and exchange of power with the utility. The bill is issued by utility after adjustment of import and export of electricity.
Ans. A typical Solar PV System is designed to shut down if the power in the grid is out. This is done so that in case of maintenance, any personnel doesn’t get electrocuted because of the power fed to the grid by the Solar PV System. But systems can be designed that can redirect power to a battery backup system from the grid in case of a power failure in the grid.
Setting up a Solar PV System at your premises gives you a chance to be self-sustainable in your power consumption and reduce your electricity bills significantly. Also a PV System is a clean and environmental friendly form of Power Generation. You can sell electricity to the already power deficit grid in the country thereby playing a role to fulfil the electricity requirement of the country. To sum up, it is a reliable, economic, social and environmental friendly form of Power Generation.
Ans. An Output Warranty is the Guarantee provided by the manufacturer that a certain percentage of output will be provided by its Solar Panels for a Specific period of time. An Output Warranty may last up to 25-35 years after the manufacturing of the Panels. For a good quality Solar Panel the Output Warranty is expected to be 90% for the first 10 years and 80% for 11 to 25 years.