08 DECEMBER, 2021

Non-renewable energy generation is one of the leading causes being championed by environmentalists across the globe. The pressure on coal-based energy and the strain it puts on the environment has encouraged people to look for other renewable sources like solar power. Solar power harnesses the power of the sun to generate energy. The use of solar power is not just restricted to industrial and commercial establishment but it is also being adopted largely in residential space.

Due to the same reason, solar-powered homes can be considered the future of residential housing projects. With realty developers using this as an opportunity to scale up their sales, there’s much more for the buyers than just moving into environmentally friendly homes.

Here are some of the benefits of solar-powered homes that you must know about.

  • Safe on the Environment

Solar-powered homes emit much fewer gases and chemicals as compared to electrical units. They also help reduce your carbon footprint and promote a clean environment by keeping the pollution levels in check. In hindsight, it’s not just nature that you conserve but also give your family and those around you the gift of good health.

  • Cost-Effective Solution

Installing a solar power generation setup at home could be a bit more expensive initially than the normal setup but, this is just a one-time cost. Over a longer period, the overall cost is much lesser and helps you save a lot on electricity. In addition to this, many lenders offer optimal housing finance for solar generation projects that can help you further save money.

  • Low Maintenance Solution

Installing solar panels is easy and requires relatively low maintenance. You only require regular maintenance in terms of cleaning the dust and dirt on it and can be assured that it could last you for decades. Buying a solar-powered home is also a durable and reliable option since you would no longer have to worry about power outages.

  • Rebates and Value Addition

To promote solar-powered homes, the Government provides various tax benefits and subsidies that can go up to 30% of the installation cost. These benefits can be a boon if you have purchased your dream home on a home loan and are repaying it using EMIs. In the event of selling/reselling it, having a home with solar-powered installations would add value to the offering for the buyer and help you get a much better deal than those without it.

Living in solar-powered home is going to be the future of residential housing projects. It has the potential to transform the environmental as well as the economic and social landscape of your living. If you are planning to buy a house, you must invest in a solar-powered home. If finance is your concern, you can avail a housing loan from Kotak Mahindra Bank at one of the lowest home loan interest rates and welcome a greener and healthier future for you and your loved ones. So, kick start a new way of life with solar-powered homes and apply for home loan today.

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Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.