Solar Energy Vs Electricity Cost In India

Solar power consumers in india today enjoy better energy security by locking in the cost of solar electricity for a period of 25 years thereby can hedge against variations in grid electricity prices which are tied to fossil fuel costs.

Solar energy vs electricity cost in india.

2 check average rates in your area on this map. During an auction conducted last week by the state run solar energy corporation of india seci for 1 000. In fact solar is the only source of energy where the cost of energy generation will keep reducing in future since the fuel source sunlight is free and abundantly available. 1 05 trillion ranked 5th.

According to the analysis the required investments in electricity generation capacities are going to be substantial at about rs 1 65 1 75 lakh crore per year. 4 28 trillion ranked 1st. Residential electric utility rates are on average approximately 12 cents per kilowatt hour in the us. With solar panels able to produce electrical energy for over 25 years once the investment cost is recovered in first 4 6 years it is essentially a free energy source.

India has finally bagged the tag of the lowest cost producer of solar power globally. After a steep fall in solar power prices in india it is now the turn of wind energy. Let s do the math. Reach out to top solar panel dealers near you and get free quotes.

Electricity costs over the years have fluctuated a great deal annually. The country wise average for the total installed costs of utility scale solar pv in 2018 ranged from a low of 793 per kilowatt kw around rs 5 5 crore per megawatt in india to a high of 2 427 per kw in canada the international renewable energy agency said today. In lazard s lcoe analysis unsubsidized wind power and utility scale solar come in at lower price ranges than any other. Solar power cost will fall to rs 1 9 per unit in india by 2030.

Solar panels can provide most of your business s electricity needs. 4 times more than india electricity production kwh. 4 times more than india energy use kg of oil equivalent per capita. A small business can save 7 500 to 30 000 over 20 years by installing a rooftop solar power system.

February 13 2019 12 10 ist. Savings depend on geographic location and the cost of electricity from your local utility company among other factors.