Connect your power providerto apply credits
Your savings come in the form of credits on your electric bill. To generate credits, SundayGrids install solar capacity on hosting premises. These hosts pay SundayGrids for the solar power generated, which is then forwarded to you as credits.
These credits are then applied on your power bill as a discount on the due amount.
Do note that energy credits are different from green/carbon credits.
You receive credits for the power produced by the solar system. The amount of credits you get depends on the capacity you reserve, the sunlight that falls on the panels and the price host pays for the electricity.
1 KW of solar generates roughly 126 kwh (₹650 offset on bill) monthly.
The host uses all the solar energy produced by the system and pays SundayGrids a fixed rate for it. The cost of this solar power is 30-40% lower than their local electric utility rates. Additionally, after 15 years the project is transferred to them, and with that their cost for power falls down to zero.
Credits are added to your wallet on a daily basis. You can link them to accounts from 70+ power providers across India while paying through SundayGrids.
If capacity is reserved in batches from one or more projects, credits from multiple reservations can be combined for use on your bill
You can connect additional utilities and use your available credits to pay for bills beyond your home use
Surplus credits from sunny months or when you are out on vacation can be carried forward to months ahead.