The world is now well-aware of sustainable energy being the need of the hour. With the deleterious effects of climate change associated with burning of fossil fuels, solar panels have become a dire need.
Solar panels have gained popularity because solar energy is free and abundant. However, one of the biggest barriers that have hindered the rapid transition towards solar energy and solar panels is the ‘high upfront cost.’ To make things easy and less burdening for you in the solar PK industry, Think Solar is playing a pivotal role.
Think Solar highly believes in promoting the solar PK industry and providing a sustainable future. The core vision of the company transcends environmental benefits. It also focusses on solar energy being economically feasible for all.
The company has targeted the biggest hinderance in the transitional journey towards solar panels. By creating a multifaceted strategy, the company has successfully overcome the problem of high initial investments.
Some of the key points through which the problem was overcome by Think Solar, are listed below:
- Strategic partnerships
Think Solar knows how a streamlined supply chain is necessary in decreasing the upfront cost. To bring a revolution in the solar PK industry of Pakistan, Think Solar has partnered with well-reputed suppliers and manufacturers. This has helped the company access to high-quality materials for solar panels but at reasonable prices.
- Bulk purchases and decrease in costs
The company uses the ‘bulk purchase’ strategy to negotiate favorable amounts with the suppliers. By purchasing solar panels and other components in bulk, the customers get the ultimate benefit. The cost reduction is then passed onto the buyers.
- Decreasing the manufacturing costs
The core of Think Solar lies in the incorporation of advanced, cutting-edge technology into the solar panels. The primary drivers behind a decrease in upfront costs is the constant decrease in the manufacturing prices of solar panels. Through the advanced technology, there has been an improvement in the manufacturing process. This ultimately leads to an increased efficiency. On the other hand, there is also a simultaneous decrease in the manufacturing costs of solar panel.
All these innovations have directly impacted the price of solar panels thus bringing a shift in the solar PK industry.
- Governmental subsidies
Governments all around the globe have grasped an in-depth understanding of importance of renewable energy. Therefore, Think Solar is also working closely with the government to offer subsidies and financial incentives for the installation of solar panels.
These subsidies have successfully decreased the burdensome upfront costs for the consumers.
- Net metering programs
Net metering is a popular option available in the solar PK industry. This option allows the solar panel owners to sell excess electricity back to the grid. This promotes the growth of decentralized energy generation.
- Solar leasing and power purchase agreements
Ever since solar panels gained popularity, the high upfront costs have always been a setback for consumers. However, Think Solar introduces the solar leasing and power purchase agreements (PPAs) as an alternative financing model. This allows for customers to adopt solar power without paying a high amount upfront.
In this program, the customers tend to pay a fixed amount every month to lease the solar panel system. In PPA, customers buy the electricity generated through the system at predetermined rates.
- Community solar projects
Think Solar’s community solar projects have gained immense attention in the solar PK industry. These projects have successfully financed the solar panels.
According to this model, numerous consumers contribute funds to a solar project ultimately sharing the benefits. Community solar panels help individuals who are unable to install solar panels on their own to invest in a shared solar installation. This not only reduces the upfront costs of solar panels but also enhances the community engagement in renewable energy. The collective rising awareness on green energy and the significance of solar energy can ultimately benefit the generations to come. Engaging communities also means raising optimal awareness among the people to bring about a boost to the solar PK industry.
- Professional guidance on incentives
Understanding the intricate web of government incentives and rebates can be a daunting and intimidating task for the customers. Think Solar has taken it upon themselves to give its customer the best advice in this regard. We boast a team of highly skilled and professional individuals that are specifically trained for the purpose of providing customer relief. Our team would provide the customers with an in-depth guidance and all the required information on governmental incentives on solar panels.
- Smart inverter technology
Solar panels’ convertors are installed to convert DC into a usable form of AC. This optimizes the energy production by the solar panels which ultimately results in a faster payback period.
