Export Electricity means the quantity of electricity generated from the Renewable Energy System at the Premises which is exported into the Supply Network. Exporting electricity to Europe has been a major milestone for India, with exports now worth nearly Rs 2 billion. The Indian power sector has seen major growth in the last few years, and this development is yet another example of that.
India currently produces more electricity than it needs, so exporting the excess is an ideal way to make money and boost the economy. Exporting electricity to other countries requires robust infrastructure, transmission networks and reliable generators, which are all provided by the government of India. This enables Indian companies to provide high-quality electricity at competitive prices.
The exported electricity was purchased by four countries – Spain, Italy, Germany, and France – over the period from March 2019 to October 2020. In addition to this export, India also sent additional electricity of more than Rs 250 crore during the same period. The total cost of these exports stands at nearly Rs 2 billion.
Electricity from Renewable Energy
This new venture also has numerous advantages for both countries. It provides much-needed revenue for India and can help Europe meet its energy requirements without relying heavily on fossil fuels. In addition, since India has plentiful renewable resources such as solar and wind power, the exported electricity is generally produced using green energy sources. This reduces Europe’s carbon footprint significantly and helps to combat climate change.
It’s estimated that Indian companies have now sold nearly Rs 2 billion worth of electricity to Europe over the past few months. This highlights India’s growing potential as a reliable supplier of energy across international markets and its success in utilizing its own resources efficiently to maximize profits while promoting sustainability practices across global communities.
Not only does this transaction show that India is an important player in the international electricity market, but it also helps bolster economic ties with other European nations while strengthening energy security throughout Europe as a whole. This is likely to open up new avenues for similar bilateral trade deals between other developing nations and those across Europe in future years.
How export rates work
The amount of energy used in your home is constantly monitored and recorded by your meter.
This allows SRP to see the exact amount of energy you’ve used from the grid and any excess energy you’ve generated, which will be credited back to you.
This is different from net metering – used on the Customer Generation and Average Demand plans – in which excess kWh is subtracted from the delivered kWh to arrive at a net kWh number.
batteries can help with export
If you would like to aim to produce 100% of your home electricity usage, consider installing home batteries. They will store excess energy instead of sending it back to the grid. You can then use your stored excess energy at night or in the event of a power outage. If you provide 100% of your own power, your utility may only bill you non-by passable charges and local taxes.
Feel Freedom when you use solar
Freedom Forever is here to help you with your solar journey. Our independent authorized solar experts can answer your questions about local utility export rates and recommend the right size system for your needs. Freedom Forever also installs batteries and can stack them to provide as much energy storage as you want. Keep in mind that even if you opt for a smaller system to provide 60% of your electricity, you can add solar panels in the future as rates and incentives improve.