GENERATE PASSIVE INCOME
TYPES OF INCOME
Lets understand it with a topic of Finance,” income“.
- There are three types of income.
- A) Active Income :Income for which services have been performed. This includes wages, tips, salaries, commissions etc. We need to pay tax on our income to government.
- B) Portfolio Income : An income that we generate by selling items, like stocks,property,goods etc . The profit that we generate comes in portfolio income, We need to pay tax on our profit
- C) Passive Income : This income makes you rich, as this incomes comes from your assets, like you rent a property,taking royalty on patents or getting a solar plan, where you have to invest one time and on day basis it will generate income for you and credit it in your pocket.
If you get a solar solution your saving will start from day 1, and you would be adding passive income to your pocket for coming years, where you do not have to pay tax at all.
let's compare solar solution with fixed deposit
10 lakh invested in Fixed deposit
- Interest rate = 7%
2. Total interest for 25 years = 17,50,000/-
3. Total Sum : 27,50,000/-
4. You also paid the electricity bill separately for 2033 units on monthly basis.
5. Bill for 25 years paid without changing the cost of unit = 48,80,000/-
6.( Total paid ( 10,00,000 (FD) + 48,80,000( Electricity bill) )) -( Total Return( 27,50,000) ( FIXED DEPOSIT RETURN )) = Expenditure (31,30,000/-)
7. Extra Paid Amount = 31,30,000/-
10 lakh invested in solar
- In 10 lakh rupees we can install 22KW capacity of solar system,which will generate 88Units per day,and for 300 days in average we generate 26,400 units yearly.
2. Within 25 years our system will generate 6,10,00 Units ,these units are based on actual condition by subtracting all losses.
3. Total cost recovered by 8/Unit = 48,80,000/-
4. Not to pay any electricity bill.
5. Profit amount compared to FD = 21,30,000/-
6. ( Total Paid( 10,00,000) ( SOLAR INVESTMENT) – ( Total Return From electricity produced ( 48,80,000)) = Savings ( 38,80,000)
7. Total amount saved in 25 years= (38,80,000) SOLAR SAVING + 31,30,000 ( WE PREVENTED FROM EXTRA PAYING) = 70,10,000/-