Case Study on Techno Economic Analysis of Solar Roof Top Power Plant in India

Abstract

The viability of installing a rooftop solar power plant is investigated in this research. Roof top renewable energy has recently become popular for residential buildings. In general, the electricity produced from roof-top solar panels is converted to alternating current (AC) via a power control unit and directed to the existing wire network of the houses intended primarily to serve the Electric Utilities that supply alternating current (AC). The current 1 kilowatt power plant is utilized to assess performance throughout the year. The overall cost of the solar power plant is INR 50,000 with subsidies and it generates 1403.44 kWh of electricity each year. According to government policy, Government purchase the generated solar power in residential areas costs an average of 2.5 INR/kWh, so a yearly INR 3508.60 is generated from the solar power plant if all of the electricity is directly fed into the grid, but if it is used, it will save the consumer money because 1 kWh costs an average of 8.00 rupees in India in 2023 as buyers prospective. Therefore, as the point of view of the purchaser, the buyer or owner of a solar roof top receives 11,227.50 INR every year. The solar roof top power plant has a lifespan of 25 years, hence the annual cost of the solar power plant is 2000 INR. Thus, the benefit cost ratio to the owner is 5.61 if he/she uses energy for their dwelling, and the payback period is only 4.45 years. The proposed work must be considered in terms of an overall environmentally friendly approach that will end up resulting in a new era for energy efficiency and a lower carbon footprint. It will also contribute to the expansion of renewable energy in India.