In this blog, author Jeevesh Sabharwal, Founder and CEO at The Horizon Buildcon puts his view on how solar energy can percolate into the Indian real estate sector and create a win-win situation for both home buyers and builders.
No matter if you live in a metro city in a modern housing apartment, a town or a village, frequent power cuts is quite a story of every household in India. Figures account for a number which is just not sufficient to deal with the power needs of India. India is a large country with an even larger population that uses around 334.40 GW of electricity every year.
Producing electricity power of this amount requires a whole lot of effort and energy which is non-renewable most of the time. Even though India has surplus power generation capacity, it lacks adequate infrastructure for supplying electricity to a billion people residing here. This calls for an energy source which is feasible, abundant and renewable. The initiative ‘Make in India‘ by the Government is not only to encourage entrepreneurship but also to acknowledge renewable energy sources. The government has been actively patronizing the use of renewable sources of energy like solar power. India’s first net zero energy building Indira Paryavaran Bhavan works with an installed capacity of 930 kW peak power with the largest rooftop solar system among multi-storied buildings in India. It is now imperative for the Indian real estate industry to embrace this change and adopt solar power.
Our team at Horizon Buildcon is a strong proponent of renewable energy. Majority of our projects use 30%- 35% solar power as an energy source. Solar power offers numerous benefits for both home buyers and sellers, like:
- For the Environment – Solar power plants produce zero emissions and zero environmental hazards. It curtails air pollution thereby offering some fresh air. Simply installing the system won’t help blow some fresh air for you but will certainly have the long-term positive effects on the environment.
- For cost-cutting – An average of 897 kWh is consumed by a household per month in India, which costs around INR 1,165. This amount certainly disturbs monthly budget of a household even if it rises by a few hundred. An initial installation of solar power might cost you a few extra pence but it will eventually cut down on your power bills for almost your lifetime.
- For an average modern housing apartment, in a high rise building, you would require 930 kW peak power or less and 1 KW of solar energy costs as much as INR 1.3 to 1.8 lakhs. Very often, builders refrain from making this investment. This is because they don’t want to pay for their customers’ energy consumption? However, bulk buys and bulk installations would cut down the cost around INR 30,000 to 40,000 on each 1 kW solar energy system. Besides, when you sell the property, you can always accrue additional cost to the home buyers for the solar energy system that has been installed in their property.
These benefits should top the list for real estate builders to attract potential home buyers:
- No monthly electricity bill, just pay for maintenance that too after a year or two.
- No noise is created when solar plants are in use.
- Solar power is cheaper as compared to other power sources.
- You could save up to 15-20% on your energy bill and the solar panels would last up to 25 years.
- Last but not the least; it is a significant contribution towards the benefit of the environment and earth at large.
In a country like India, where sunlight is abundant almost all year around, installing solar panels would amount to the most feasible and favorable energy source in future. Real estate, especially modern housing is growing at a rapid pace. It accounts for one of the biggest energy consumption sectors. Therefore, our future lies in making use of solar power and embracing the norms of Indian Green Building Council.
About the Author:
Jeevesh Sabharwal is the Founder & Director of The Horizon Buildcon. He is a Business Administration graduate from Western International University, USA. He believes in his father, Naresh Sabharwal’s vision as a second generation entrepreneur and carries the legacy of meaningfully touching the lives of employees, creating values for customers and leaving a legacy of inspiration for the future generations.
He shoulders multifarious portfolios and handles family-owned group of companies in real estate, construction and trading. The Horizon Buildcon was conceptualized in the year 2006 as Jeevesh Sabharwal flagship company. Since then the company has been rendering its expertise in envisioning, building, and developing residential, commercial and affordable infrastructure. Expanding their presence in North India, the company has developed multiple real estate projects in the states of Delhi/NCR, Punjab, Jammu and Kashmir and Maharashtra (Nasik).
Jeevesh Sabharwal shares his forte in real estate where his company is making the world a better place by creating contemporary housing and world-class commercial, residential and recreational properties. But that’s not just it; he also exhibits an impressive leadership in international trade across a wide range of product lines like building material and furnishings, liquor, ethnic wear and more.
Jeevesh Sabharwal is based out of New Delhi (India). He also handles Group offices in China and Dubai.
(This story has not been edited by our staff and is auto-generated from a syndicated feed from NewsWireIndia.)