Pioneer 05

Installed by Waaree Energies

100% Reserved

Credits Generated

₹0

Energy Produced

0 kWh

Secured Generation is enabled for this project. Learn More

About the Project

Pioneer is our pilot project, the one that started it all. The 5KW system is hosted on the rooftops of a residential space in North Bangalore. Being closer to our place of work, made it ideal for testing and an initial release.

Every unit (kWh) from this project discounts ₹6.00 off your power bill

Overview

Capacity

5.00 KW

Reservation Status

100% Reserved

Operational Since

Dec 2020

XIRR

12.5%

Tax Free

This project is 100% reserved

line graph which a badge above it that contains a check mark indicating that the project is fully reserved

Know more about Projects

Do I need to be in the same location as the project to reserve from it?

No. You can be anywhere, as long as your local power provider is a serviceable utility for SundayGrids to reserve from the digital solar project, and needn’t be in the same location as that of the projects.

How much solar can I reserve?

Users can reserve for any fractional amount starting as low as the equivalent of 1% of their power bill and go all the way upto offsetting 100%. In case you have multiple connections, you could add up more solar to address those bills as well from the same solar project.

How long can I reserve solar for?

Reservations on SundayGrids can be quite flexible. You can keep collecting the generated credits from your reservation until the end of project tenure or exit your reservations partially or fully anytime. In case you choose to opt out of your reservation before the project term, you can get back your reservation fee as per the specified refund value mentioned in the project details.

What is the validity of my credits?

Credits can be accumulated month over month and can be used to pay bills at any time during the project tenure. Do note that credits only upto 100% of power bill value can be used in a single billing cycle.

Are my monthly credits constant?

Solar electricity output is directly proportional to the sunlight that an area receives. Therefore, monthly credits is an annualised average of credits generated. Therefore there are going to be months, typically in monsoon where fewer credits are generated and in summers the power production is going to be higher.

How is my reservation secured?

There are two levels of safeguarding within SundayGrids; For hardware and asset protection all our projects have insurance covers. For the performance and upkeep of the solar system, each project has a secured generation value, wherein if power output dips below the value, users will be proportionately compensated through additional credits.

Furthermore, users are enabled to receive the refund value at any given time if they want to exit their reservations (partially or fully) as per the Digital Solar Service Agreement.

What does XIRR mean here?

Since a return on investment received at a shorter span is worth more than the same return received at a later time, when analysing performance-focused returns from products and services, its equally important to account for the time invested as much as the capital invested.

This is done via XIRR, which is the extended internal rate of return, calculated monthly. In regards to SundayGrids, it is the rate of return provided from the credit generation on a monthly basis.

What happens on completion of project?

After the project tenure, the project is handed over to the host for utilisation for the rest of the available lifespan of the solar system. This mechanism is in part the reason why hosts enable these assets to be community solar projects.

What is a Host Agreement?

A host agreement consist of a roof lease to install panels on their premise and a Power Purchase Agreement (PPA) that states the agreed upon tariff rate for the power produced as well as general terms and responsibilities between SundayGrids and our hosts.

Who owns this project? What happens when I reserve from a project?

All the projects hosted on the platform are owned and managed by SundayGrids. When you reserve digital solar capacity, much like getting a train ticket for reserving a seat from a booking platform, SundayGrids shares a service agreement with you to generate and trade power for on-bill credits on your behalf from the reserved capacity for the given term period.

What are the cost incurred to users for reservation?

Users pay a reservation fee based upon the capacity they reserve. This fee is inclusive of periodic maintenance as well as hardware replacement. Apart from this, there is a 1% onboarding fee users pay for the service and platform costs.

What happens if the panels get damaged?

All projects are insured for protection from fire, theft and other damages. In case of performance drops due to factors rising from the host side, we have a ‘deemed generation’ policy that kicks in to pay for the lost credits.