Agriculture in Developing Countries
Agriculture sector plays an essential role in the economic growth of developing countries. More sectors that fall into this category are food and beverages sector, leather, textile, forestry and fishing. These sectors contribute highly to the GDP of any country. Impacting heavily on the growth of developing countries to be particular. Since the GDP of the country is interlink with the progress of the agriculture sector, It cannot be overlook by the government. Government facilities like provision of enough food for the public and employment generation in the country is backed majorly by this sector.
Apart from that, when we shift our focus towards the international affairs that is export. We come to know that the countries having the competitive edge of all the agricultural activities. As mention above are engage in excessive export activities. Exports decides the surplus and downfall in balance of trade and balance of payment. Which in turn contributes to the countries’ positioning in the list of top producing, exporting and thriving countries globally.
Every sector in every country cannot run without the efforts of professionally qualified people of the same industry. Speaking of the agriculture sector, “Farmers” are the drivers that without their consistent efforts, this agricultural industry would never progress.
Agricultural Solar Panel Systems
Even after knowing the importance of the agriculture sector and farmers. These tertiary skilled workers themselves face financial crises in developing countries. The efforts are not rightly acknowledge and paid off here. Leaving these workers with injustice. The contribution of farmers to the agriculture industry is 19.2% to the GDP. Which is considere as a handsome proportion. Farmers themselves are facing many issues like coping with the changing taste of consumers, complying with the increasing demand of consumption, financing to produce more, high investment in equipment and much more.
Farmers and landholders who own big lands on which farming is practice. These giant lands can also be install with agricultural solar panel systems to be use in multiple ways. Thus cultivating crops and other products while generating passive income by the production of solar energy on their lands. This may help support farmers to cut the cost of electricity by producing their own electricity with the use of sun rays on solar panels. Over the past years, farmers all around the world are facing all the above issues. Which lead to the financial crises and non-profitability over their production.
Aboriginally the practice of agriculture has always been back by the sun, for obvious reasons. Now it is time to make more from it and make the best use of the sun and the land. Solar panels absorb UV rays of the sun and transform it into energy. Which then shifts towards the grid for the consumption by the user.
There are usually two types of solar panels use in farms. One is Photovoltaic (PV) and the other one is Parabolic. Best preferred among all investors is PV solar panel that allows smooth processing of electricity generation and is also environmentally friendly.
Return on Investment (ROI) and Tax Relaxation for Farmers and Landholders in Agriculture
With the installation of agricultural solar panel systems, farmers and landholders benefit from it in every possible way. 8760 Solar Solution, which is a solar panel installation company claims that 64% ROI is definite to be returned back via multiple incentives and rewards. In less than 10 years.
Investment Tax Credit (ICT)
- In recent years, to maximize the installation of solar panels, the US has announced Investment Tax Credit (ICT) from federal income taxes. The percentage may differ depending upon the year of installation.
Rural Energy for America Program (REAP)
- Rural Energy for America Program (REAP) is initiated to provide farmers in the rural areas with the financial solutions to help improve their productivity, hence profitability. REAP is basically financial aid like grants and loans for them that can cover the expenses and would be much easier for farmers and landholders to go for new investment. However, there are two variants of financial aid, Grant and Loan. Grant covers up to 25% of potential projects opted by them, while loans cover up tp 75%
Tax Relief for Depreciation
- As far as the asset is concerned, whichis the agricultural solar panel systems, no matter what the asset is, it is always prone to depreciation. Same goes for solar panels here. Federal income tax allows deductions in the tax of depreciated agricultural solar panel systems.
Whenever you plan on opting for the best agricultural solar panel systems, always look for the licensed and verified panel installers. You might as well want to go for NABCEP which is short for “North American Board of Certified Energy Practitioners” certified installers and contractors to get the guaranteed work done. All of these perks are being provided by none other than the 8760 Solar Solutions, who provide honest and warranted services of installation and repair throughout the period of installation.
Advantages of Installing Agricultural Solar Panel Systems
Viable Investment Plan
- Investing in Solar panels is a viable investment plan for those with a vision of long-term planning. As discussed above, the returns and incentives are attractive enough to give this idea a second thought. They might be overpriced during the installation but when we look at the other benefits and cost cutting of electric bills, we get unexpectedly positive figures. As discussed above in detail; ICT, REAP and Depreciation add to the proof of viability in investment here with confirmed returns as well.
- Solar panels emit low to no harmful substances. As compared to prevailing electricity generation methods, the solar energy system is much safer for the environment. Not having any negative impact on the atmosphere, moreover, not contributing to the It is no doubt safe for both plants and livestock.
Miracle for Rural Population
- People who are in need of electricity, mostly in rural areas, need this variant of energy and move on from the conventional methods which are of no use for the rural People living in such areas often use the fuel based electricity to live a normal life over the cost of their savings. This new regime is a game changer here.
Contribution to Country’s GDP
- Fuel based energy often requires countries to import more oil, thus resulting in a negative balance of trade and payment. When agricultural solar panels are installed, only sunlight is required to get the best from them.
- Agricultural solar panel systems, unlike windmills, is an unconventional way of generating electricity without making any noise or creating any waste. It is also reliable for the long-term, free from governmental policies and regulations.
Best use of Renewable Energy
- Solar energy is renewable unlike other resources that are non-renewable and getting closer to scarcity. The solar energy system is a beneficial plan referring to the scarcity of many energy items used to generate energy, this way we can preserve those as well as bask in the glory of sunlight which is available in countries located at the equator and near areas.
So, If you are interested in buying a solar panel system. So, Just visit our website contact us and give us an order and get it. For further more information I highly recommended you to visit 8760 Solar Solutions