Best time to Book Solar System

Overview

Yes, you hear it right. If you want to have a solar power generation system for your facility (industrial / Commercial) then this is indeed the Best time to book your solar system from your solar vendor. as we all know that Solar system is a best investment to make and the benefits are too many to mention. The question that arises is when is the best time to book solar system? The answer depends on the current market conditions and based on multiple facts like:

1. Rising solar panel cost

Till November 2021, the solar market has witnessed a steep rise in the prices of solar panels. But in the month of December 2021, a demand-supply mismatch is observed. There is an oversupply of solar panels than the existing demand and hence, the prices were under pressure.

Many projects got canceled at this time and solar panels were easily available in the market. In this current situation, one can get solar modules at a very reasonable price.

These prices are going to increase from the second week of January 2022 as the last quarter demand will be high (as per our year-on-year experience). Also, in the month of February 2022, the Chinese solar panel production will be less due to the Chinese New Year Celebration.

Many Solar developers will be under pressure to complete the Solar power plant before 31st March which will swing the market sentiments.

2. Depreciation Benefit

To get the Depreciation Benefit for the year 2021-22 from solar power systems, one must install the solar power plant before the 31st of March. Hence it’s very comfortable to Book your solar system now so that it gets completed before the deadlines.

3. Increasing Dollar Price

Dollar prices are very fluctuating now and experts say that looking at the international market scenario, the price trend will be upward. The dollar has a direct relationship with Imports.

As a major portion of solar components gets imported into our country, this will definably be going to increase the prices of components, and hence, it will increase the overall system price.

4. Risk of Covid Wave

There is a constant risk of the third wave of Covid19 i.e. omicron. As per our past experience, during the lockdown, the prices of components soar, and hence the prices of the solar systems tend to go up.

5. Government’s Anti-Dumping Duty

The government of India has declared an Anti-Dumping duty of 40% on the import of solar panels post-March 2022.

Hence most of the developers will try to stock as many solar panels as possible to beat this sudden price rise. Since February 2022, it is expected to experience a rush Buying solar modules from all parts of the country.

Considering all these factors, our team of analysts is convinced that this is the right and the best time to book solar power system.

If you need any technical suggestions regarding the solar system, the team of Chirayu power will be obliged to help you out. If you have any suggestions, updates, or views regarding this post, kindly reach us at

purchase[at] chirayupower [dot] com

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