How Solar Power Helps Farmers Earn a Second Income

While most people know that reducing electricity and heating bills is the biggest benefit of installing solar panels, solar benefits go far beyond what is normally thought. Farmers get a good opportunity to earn more when they install solar panels in their farms. Most farms are located in areas that receive a lot of sunlight. A farmer can install as many solar panels as he or she wishes. Since farms cover large pieces of land, a farmer can have large solar installations done to cover monthly energy bills completely, and even have extra energy for income. Below are two ways explaining how solar power helps farmers earn a second income:

shutterstock_248551207Feed-in tariff income

A feed-in tariff is the amount of money paid by the energy supplier to a farmer, for the power generated by his solar panels. The energy supplier pays a fixed amount for each kilowatt-hour of electricity produced. As the prices of utilities increase, so does the feed-in tariff. Installing solar panels offer a good return on investment, since the only cost incurred is installation cost alone. The energy supplier can buy units of electricity from solar energy producers. When a farmer has many solar panels installed in the farm, there’s more energy produced than consumed. Check out firstpeoplefirst.in for more information on solar energy harnessing and benefits.

Earn as much as you produce

As earlier stated, solar energy generation depends on the number of solar panels that are running at a particular time. With a large solar installation, a farmer can get up to 10% rate of return on their initial investment. This is a good rate compared to other investment instruments. Combined with the benefit of environment conservation, solar energy becomes one of the most desirable sources of energy and extra income for many farmers across the country. So, these are some of the numerous ways farmers can benefit by tapping into solar power to earn a second income.