The solar energy generation potential in a specific area can be assessed based on factors like availability of land, solar radiation, etc. The National Institute of Solar Energy (NISE), an apex institute of the Ministry of New & Renewable Energy (MNRE), has estimated the potential of solar power in the country to be around 750 GWp. However, India has just reached an aggregate installed capacity of grid-interactive solar energy at 34.6 GW as of March 31, 2020.
Users will be able to benefit from a single solar plant at one location with the surplus energy being sent back to the grid and adjusted with the bill of each meter connected to it. This will, in theory, allow members of a society and consumers to reduce their monthly bills.
After the Delhi solar policy was issued in 2016, the power watchdog had constituted a committee for developing this framework and issued draft guidelines under DERC (Net Metering for Renewable Energy) Regulations, 2014 last year. The framework has finally been notified after objections and comments were collected from the general public by January 2019.
“The move will help in the promotion and deployment of renewable energy projects in residential and agricultural sectors benefitting lakhs of citizens and farmers. At present, we have about 630 net metering connections and this number will shoot up once we implement the order. We are in the process of making changes in the billing mechanism to implement it,” said a Tata Power-DDL spokesperson.
BSES said consumers can apply for net metering on their website. “We had earlier launched a Solar City Initiative to bridge the gap between the consumer and the vendor. Post-installation, BSES will carry out an inspection to assess the quality and check whether it has been done according to the minimum technical requirements,” said a BSES official.
At present, Tata Power NSE 4.30 % has around 630 net-metered connections with a capacity of 25 MW, while BSES has 1,600 with a capacity of 60 MW. According to BSES, a 100kW plant can save up to 1,27,750 units annually equalling annual savings of Rs 9.26 lakh. A 5KW plant can bring annual savings of Rs 46,300.
The discoms said that to apply for the project, people can simply contact them after which a feasibility test would be carried out and bills assessed to find out the requirement for a household or colony. “Depending on the consumption and the bill amount, we will be able to decide on the solar panel capacity. Different CGHS societies are thriving with solar panels capacities ranging from 50kW to 200kW,” said a BSES official.
Vendors said the amount invested in a solar panel can be recovered in the form of savings in just 5-6 years. “This is a safe estimate and the actual invested amount is recovered in close to four years. There are immense benefits to go solar as the product is a long-term investment,” said Abhishek Dabas, co-founder at Zolt Energy, a private solar-panel supplying company.
Sanjeev Aggarwal, MD and CEO of Amplus Solar, said the risk in investment is generally low and savings can be as high as 90% of the total bill, depending on the plant size and consumption pattern. “On average, a 5kWp standard rooftop installation will cost Rs 3-4 lakh. If one opts for subsidy, they can avail 30% of the plant cost from MNRE through the state nodal agency,” he added.
However, Pujarini Sen, a campaigner at Greenpeace India, said the notification process has taken far too long to allow people to avail subsidies for solar plants. “The important thing now is to make the consumers aware about it and facilitate it, especially at the residential level. Once popular, the load on the grid and electricity bills will reduce, benefitting both the consumer and the discoms,” she added.
Source : – Solar power can save you Rs 46,000 in yearly bill
Mercom Capital Group, LLC, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition (M&A) activity for the solar sector in the second quarter of 2016.
Total corporate funding, including including venture capital funding, public market and debt financing into the solar sector in Q2 2016 fell to $ 1.7 billion this quarter, a 41 per cent drop compared to the $ 2.8 billion raised in Q1 2016, it said.
Mercom Capital further said that the year-over-year total corporate funding was down significantly compared to $ 5.9 billion in the second quarter (April-June) of last year.
“The solar industry continues to experience weakness in terms of financing activity, and corporate funding in Q2 2016 was at its lowest level in three years,” CEO and Co-Founder of Mercom Capital Group Raj Prabhu said in a statement.
Global solar VC funding (including private equity) saw a large decline this quarter with $ 174 million in 16 deals compared to $ 406 million in 23 deals in Q1 2016.
Year-over-year (YoY) VC numbers were slightly better compared to Q2 2015 with $ 142 million in 24 deals.
Solar downstream companies raised the most (64 per cent) VC funding in Q2 2016 with $ 112 million in seven deals. A large part of the total came from the $ 100 million raised by Silicon Ranch from private equity firm Partners Group.
Other VC deals this quarter included the $ 20 million raised by Tigo Energy, 1366 Technologies’ $ 15 million raise, and the $ 12.5 million raised by Sol Voltaics. A total of 21 VC investors participated in funding deals.
Solar public market financing in Q2 2016 came to $ 179 million in four deals compared to $ 94 million in four deals in the first quarter of 2016 and $ 2.3 billion in 12 deals in Q2 2015.
According to the report, Tata Power Renewable Energy (TPREL), a Tata Power subsidiary and a renewable energy project developer, acquired Welspun Renewables Energy’s (WREPL) 1,140 MW renewable energy project pipeline for $ 1.38 billion.
CLP India, a subsidiary of Hong Kong based CLP Group, bought a 49 per cent stake in Suzlon Energy’s 100 MW solar project in Veltoor, Telangana, with an option of acquiring the 51 per cent stake balance in the future.
Amplus Energy Solutions (Amplus Solar), an Indian solar installer and a portfolio company of I Squared Capital, acquired SunEdison’s 7 MW rooftop solar project portfolio in India.The projects are spread across the states of Maharashtra, Karnataka, Tamil Nadu and Delhi.
Source : Economic times, 11th July 2016,