Cost of generation of solar power

The cost of generating solar power depends, inter alia, upon intensity of radiation, size of the solar plant, cost of financing, etc. The tariff for solar power is now being determined largely through tendering process. For installation of rooftop solar PV projects, the Ministry of New and Renewable Energy (MNRE) has worked out benchmark cost as follows:

• Upto 10 kWp : Rs. 60,000/- per kW
• 10 kWp – 100 kWp : Rs. 55,000/- per kW
• 100 – 500 kWp : Rs. 53,000/- per kW

The Ministry of New & Renewable Energy is implementing Grid Connected Rooftop and Small Solar Power Plants Programme, wherein, Central Financial Assistance (CFA) is being provided for installation of rooftop solar PV plants in residential, institutional and social sectors. The CFA is upto 30% of the cost arrived through tender process or the benchmark cost prescribed by MNRE, whichever is less, in case of general category states/UTs and upto 70% in case of special category states/UTs.

This information was provided by Shri R.K. Singh, Union Minister of State (IC) Power and New & Renewable Energy in written reply to a question in Lok Sabha today.

Link Source: http://www.saurenergy.com/mnre-ministry-of-new-and-renewable-energy/cost-of-generation-of-solar-power

Three ways a Solar Power Panel brings more value to your business

Every business needs electricity, whether it’s arecent startup or an industry pioneer and the need of electricity is ever increasing with technology upgradation taking place every moment. Hence, a generator is required which can give unlimited energy to meet every future need. Indefinitely, sun is that unlimited recourse which is being referred to here. To use this energy, we need solar power panel manufacturing industry. Elon musk once said ‘We have this handy fusion reactor in the sky called the sun, you don't have to do anything, it just works. It shows up every day and produces ridiculous amount of power’.

One day, a company decided to grab this opportunity and thus started Solar Power Panel Manufacturers claiming it to be a futuristic business. It is expected that India would generate 100 GW of solar capacity by 2022 and this would lead to an increase in solar panel manufacturers in India. It has its own set of benefits for the businessmen, as follows:

• Decrease operating cost: Solar power helps to reduce cost and thereby increase profit. With electric energy cost increasing day by day (some would even say- more than inflation), installing solar power panels would significantly reduce the electricity cost for the firm and also help to forecast more accurately. It would also decrease the per unit cost of electricity which would help the business to generate more profit. It proves to be a full-proof one-time cost with long-term benefits to reap.
• Environmental and Investment benefit: Annual return on investment of the solar power is another reason to gain your interest. Within five years an organization can earn back their investment amount with minimal risk. So it is approximately 20% of return on investment and it also helps saving tax by deducting depreciation. Companies taking loanfor the business are provided with interest deduction benefit. Lease is a good option for the same, as it also proves to be a gain. Ultimately, the environmental benefit is a known factor. 1 kilowatt energy is equal to 1 ton of carbon emissions and company gets extra benefits from the government in the form of subsidies for leading the society towards sustenance.
• Income from the Sun: After establishing the solar power panel, the organization can sell the extra electricity generated to power stations like torrent. Ever felt grateful for the Sun? Try asking the Solar Panel Manufacturers in India about the same.