Reasons to Go for Green Solar Solutions in Pakistan 2024
Imagine that it’s the peak of summer in Pakistan. The heat is very harsh, and the electricity just decides to take a break. Fans stop working and the lights go out. Especially during the hot days in Pakistan, electricity outages are a common problem. But there is a fix for this issue: Green Solar Solutions! Solar systems can help create your path towards a better future with proper electricity.
With the help of the sun, solar panels provide eco-friendly and reliable energy solutions. This blog post will explore 10 compelling reasons why switching to solar solutions in 2024 is a wise decision for your home and the environment. Moreover, we will also discuss the major banks that offer financing options for solar solutions.
10 Reasons to Go Solar with Green Solar Solutions in 2024
There are many reasons for you to install solar systems in your homes or business. Here are a few long term benefits:
1. Peaceful Nights and Guaranteed Sleep
It is no doubt a very terrible experience when you are sleeping at night and the fans (or AC) suddenly stop. Especially during extremely hot days like June and July, this can become a nightmare. However, with Green Solar Solutions, this won’t be your reality. With proper inverters and batteries, solar panels store energy during the day. This ensures you have power even when the light goes out. So, you can finally enjoy a peaceful night’s sleep.
2. Always Have Reliable Power
Solar panels don’t just work during a fixed time. They store excess energy generated during sunny hours with the help of batteries. These batteries provide you with backup power at night. This means you can enjoy the convenience of electricity whenever you need it, whether it’s for late-night studying, sleeping, or simply keeping the lights on for added security.
3. Solar Solutions Tailored to Your Needs
Not everyone has the same energy requirements. Therefore, there are different solar solutions that you can find for your needs. So, you can find a variety of solar panel prices and systems, ranging from 1 kW solar system to 12 kW solar systems or more.
4. Power Up All Appliances
With a Green Solar Solution system, you can power all your essential appliances and more! The different solar system options allow you to choose the perfect system for your home based on your specific needs and the number of appliances that you want to power. You can also use an appliance load calculator to get an estimated amount of electricity that you will be needing for your home.
5. No More Load Shedding
Load shedding, or planned power outages, is a common problem in Pakistan. Apart from that, there can also be problems with the transformers or power outages during storms which can also occur in Pakistan. But with Green Solar Solutions, you can say goodbye to these problems. During load shedding periods, your solar system will take over, keeping your home powered and your life activities can go on.
6. Predictable Energy Costs
If you are tired of changing electricity bills that keep going up or down, solar energy offers a solution for this as well. With a solar system, you’ll be generating your own home’s electricity. This way you will not be relying on the national electricity systems completely. You’ll have more control over your energy expenses and enjoy the peace of mind that comes with predictable energy bills.
7. Unlimited Resource of the Sun
The sun is a limitless source of energy, shining brightly in Pakistan throughout the year. Solar solutions allow you to use this free and abundant resource. By using limitless solar power, you’re not just saving money, you’re also making a healthy choice for the environment.
8. Choose Your Green Power Option
Solar Solutions offers a variety of solar system options to fit your needs and preferences. You can choose from:
- On-Grid Systems: These systems are connected to the national grid. During the day, excess solar energy is fed back to the grid, and at night, when your solar panels aren’t generating electricity, you can draw power from the grid.
- Off-Grid Systems: These systems are completely independent of the national electricity systems. You can store the power with batteries. Then, you can use this power whenever you want.
- Hybrid Systems: These systems combine the benefits of both on-grid and off-grid systems. They are connected to the grid but also have battery storage for backup power.
9. Financing Options
Making the switch to solar energy might seem like a significant initial investment. However, green solar solutions and many financial institutions in Pakistan offer financing options, such as loans and government schemes, to make solar power more accessible. These options can help you utilize the solar panel price in Pakistan to get a loan and go solar.
10. Improved Quality of Life with Green Independence
Going solar isn’t just about saving money and the environment – it’s about improving your quality of life. Imagine the freedom and independence that comes with generating your own clean energy. You’ll be less reliant on the national grid, and power outages will become a thing of the past. This newfound energy security allows you to carry on with your daily activities without getting interrupted.
Banks Offering Green Solar Solutions in Pakistan: Financing Your Solar Journey
We have explored the many benefits of switching to solar energy in Pakistan. Now, let’s get into the financial options. Several banks in Pakistan offer solar financing options, making it easy for you to get solar systems for your home. Here’s an explanation of some of the offerings from banks in Pakistan:
Meezan Bank:
- Loan Amount: Ranges from PKR 100,000 to PKR 2,500,000 (with a potential maximum of PKR 3,000,000 for “premium customers”).
- Repayment Tenure: Flexible terms from 1 year to 5 years.
- Down Payment: Varies depending on the type of system (on-grid or off-grid) and your credit history. Expect a down payment of 15% to 50%.
- Eligibility: Requirements are different based on your employment status. Minimum income thresholds apply, ranging from PKR 100,000 for salaried individuals to PKR 500,000 for business owners. There are also age limitations depending on your employment type.
Bank Alfalah:
- Loan Amount: Offers flexible financing options, with loan amounts ranging from the equivalent of a few kilowatts of solar power (enough for a small house) up to a massive PKR 400 million for large-scale projects.
- Repayment Tenure: Borrowers can choose a repayment term that suits their needs, with options from 1 year to 5 years. The program also offers a 3-month grace period after installation to get your system up and running before repayments begin.
- Down Payment: The down payment depends on your situation. It can be as low as 10% for certain individuals but typically ranges from 20% to 25% depending on property ownership (owned vs. rented).
- Eligibility: This program caters to a wide range of borrowers, including individuals, businesses of various sizes (including agricultural businesses), and even staff members of specific companies. A clean credit history and proof of income are essential requirements.
Allied Bank:
- Loan Amount: Offers financing options from PKR 200,000 to PKR 3,000,000 to cover the cost of your solar panel system.
- Repayment Tenure: Provides flexible repayment terms, allowing you to choose a plan that fits your budget. The maximum repayment period is 7 years.
- Down Payment: Requires a minimum down payment of 30% of the total loan amount.
- Eligibility: Open to Pakistani citizens between the ages of 21 and 59. There are specific requirements for salaried individuals (minimum salary, employment duration) and self-employed individuals (business experience, income threshold).
HBL Microfinance Bank:
- Loan Amount: Provides financing options up to PKR 3,000,000 for solar installations.
- Repayment Tenure: Offers long-term repayment plans, with a maximum tenure of 10 years (120 months). Borrowers can choose flexible repayment schedules (monthly, quarterly, or half-yearly).
- Eligibility: Open to Pakistani citizens aged 72 or younger. Business experience might be required depending on the collateral offered. Income requirements vary based on whether you’re applying for a residential or business solar solution.
- Additional Notes: HBL Microfinance Bank assesses applications on a case-by-case basis, considering your specific needs. Residential applicants can apply with a co-borrower.
By carefully considering these factors and comparing the offerings from various banks, you can find the most suitable solar financing option to embark on your journey towards clean and sustainable energy with Green Solar Solutions!