Solar Business

Solar Business
Solar Energy – Current & Future Aspects

India is in a state of frequent power shortage with a demand-supply gap of 12%, and this gap can only be
filled with the use of renewable sources of energy such as solar energy in India. Furthermore, due to the
geographical location of the country in the tropics, the solar power industry in India has immense
prospects to grow solar energy in India at a high rate. The country receives an annual radiation of more
than 5000 trillion kWh, which if potentially tapped by the solar energy companies in India, will generate
a substantial amount of energy.
Furthermore, it is estimated that the solar power industry in India is the third largest in the world. The
solar power industry in India is growing at 25% CAGR owing to the government’s keen initiatives and
incentives to the manufacturers. The solar power industry in India generated 1000 MW of energy in 2017
and is expected to generate 80,000 MW of energy by 2020 and 100,000 MW by 2022 owing to the
growing number of solar energy companies in India.
Who would not want to use solar energy, a free renewable resource readily available at their disposal, to
reduce their electricity bills and increase green footprint effectively. Overall, the future prospects of solar
energy in India are poised for a stellar future of solar energy in India
Solar Based Products

Solar Panel System Price in India (Rooftop)
The price of the total system would depend on the type of solar panel system you go for. We have
explained different types of solar panel systems in the next few sections.
An off-grid solar panel system, which includes panels, inverter, charge controller, batteries, wiring,
structure, connectors, junction box, etc. It would cost anywhere between Rs 70,000 to Rs 1,20,000 per
kW depending on the panels and inverter that you go for. To check the system size (in kW) that you need
to install, use the calculator on this page below.
A grid-connected solar panel system, which includes panels, inverters, wiring, structure, connectors,
junction boxes, etc. It would cost anywhere between Rs 45,000 to Rs 80,000 per kW. To check the size
that you need, read the sizing section in this page below.
To find the right type of system that is ideal for you, check the section below on types of solar panel
systems.
Types of Solar PV Cells

Monocrystalline vs Polycrystalline
There are two types of Solar PV Cells, Monocrystalline and Polycrystalline. The difference between the
two is that Monocrystalline is made of single silicon crystal. In contrast, Multi-crystalline PV is made up of
multiple crystals. A monocrystalline is more efficient in converting solar energy into electricity per sq
meter area than a multi-crystalline PV. Thus the space required for the same amount of wattage is less in
monocrystalline PV panel. Therefore it is costlier than a Polycrystalline PV.
If you have less space and you have more power requirements, then go for Monocrystalline. If you have
ample space, then polycrystalline panels will be good. To get an idea on space, read the next section on
space requirements.
Ideal Solar Panel System Type for your home

There are two types of Solar Panels Systems:
Off-Grid Solar Panel System:
This type of system is ideal when you have regular power cuts in your house, and you are looking for a
power backup solution. This system consists of a Solar Panel, MPPT Charge Controller, Inverter and a
battery bank. The role of a Solar Panel is to convert light into energy (or electricity). The Charge Controller
makes sure that the right amount of electric current is generated and passed on to the battery. This
prevents any damage to the batteries. The batteries are the storage tank that store all the energy or
electricity generated. The inverter is like a car engine, which helps run the appliances by taking electricity
stored in the batteries.
As this system comes with a battery, it can be used whenever there is no electricity. You can also get solar
hybrid inverters that can charge the batteries when sunlight is there and charge them from the grid when
the sunlight is not enough.
As this system involves batteries and storage, this system is costly and also requires regular maintenance
of batteries. The batteries need a change every 4-6 years depending on how well they are maintained.
Grid Connected Solar Panel System:

If your purpose of implementing solar is to reduce your electricity bill, then a grid-connected system is an
ideal system. In a grid-connected system, there are no batteries. The electricity generated is used in your
house. If extra is produced, then it is sold to your electricity distribution company. If your electricity
consumption is more than the production from the solar panels, then it is compensated by the grid. This
system has an inverter and a net-meter.
This system is not good if you have regular power cuts. That is because it goes down as the grid fails. So if
your system is generating electricity and the grid fails, then the electricity generated is wasted.
Solar Panel Prices of different Manufacturers in India
Two types of brands or manufacturers sell in India. There are Indian brands, and then there are
international brands. If subsidy on solar installation is available in state, then only panels from Indian
manufacturers will be able to fetch a subsidy. To check if a subsidy is available in state, will have to talk to
executives at state renewable energy development authority (details are given below). From a quality
perspective, the top Indian brands are quite competitive as compared to International brand. So here is
the list of some top Indian brands:
Manufacturer Min Price Max Price
Vikram Solar Rs 19/Watt Rs 30/Watt
Waaree Solar Rs 19/Watt Rs 28/Watt
Luminous Rs 24/Watt Rs 58/Watt
Tata Power Solar Rs 20/Watt Rs 62/Watt
Adani Solar Rs 18/Watt Rs 35/Watt
Microtek Solar Rs 25/Watt Rs 60/Watt
Some other good brands are Emmvee Solar, Navitas Solar.
The prices of international brands are also not very different and here are some that we have collected:
Manufacturer Min Price Max Price
Panasonic Rs 24/Watt Rs 52/Watt
Canadian Solar Rs 25/Watt Rs 46/Watt
Some other good international manufacturers are Trina Solar, Jinko Solar.
These numbers include both Monocrystalline and Polycrystalline type of Panels. This is the price of the
panels only and does not include other things involved in setting up a solar panel system for a home.
Space Requirements of a Solar Panel System

The space requirement of solar panels depends on the efficiency of the panels. Higher efficiency panels
require less space. A typical requirement is of about 80-100 sq ft for 1 kW system. In Polycrystalline
panels, the efficiency is between 13-17%. In Monocrystalline panels, it is between 17-19%.
Please note that the space required is not just any space, but it has to be shadow-free space where panels
can be placed at the right inclination. The proper inclination and direction vary from city to city, and you
should hire a Solar EPC (Engineer, Procure and Construct) company to help you with it. Typically the ideal
direction is South with an inclination of 15-18 degrees. To get maximum out of your solar panels, you
must also conduct a shadow analysis of the area before installation. You have to make sure that:
There is no external body (like buildings, trees) that casts a shadow on panels during the day.
Panels are placed in such a way that they get maximum sunshine throughout the day at the right angles.
Many people ask us if solar panels can be installed vertically. They can be, but the efficiency will be
significantly reduced in that case. This makes them unviable from the costs perspective. That is why it is
difficult to install solar panels in an apartment in a high rise building. People living in high rise building
should try to install a common solar panel system.
Warranties and Maintenance requirements for a Solar PV system

Solar Panels usually comes with a performance warranty of 25 years from the date of supply. But this
warranty is only for the panels. The warranties on inverter and batteries (in off-grid systems) vary from
manufacturer to manufacturer.
The manufacturers must provide an operation, instruction and maintenance manual in English and local
language along with the system. As with all electrical and mechanical system, solar panel system also
needs regular maintenance. An efficient, long-lasting system is one that is maintained properly and
regularly. A solar panel system does not require a lot of maintenance, but it is good to clean the system
of dust and bird droppings regularly to maintain its efficiency. If you choose a maintenance-free battery
then you need not worry about the battery, else the battery will need regular maintenance.
How to get Subsidies on Solar PV Rooftop?

As per the MNRE notice, CFA (Central Finance Assistance) or subsidy is available for Solar Rooftop PV
implementations. The CFA is 30% of the benchmark cost for general category states/UTs and 70% of the
benchmark cost for North Eastern states including Sikkim, Jammu and Kashmir, Uttarakhand, Himachal
Pradesh, Lakshadweep and Andaman and Nicobar Islands. The benchmark cost and CFA levels are revised
by MNRE periodically.
The present benchmark costs as fixed by MNRE are – Rs 100/Wp for projects upto 100 kWp and Rs
90/Wp for projects between 100 kWp – 500 kWp. Please note, this scheme is currently available only
upto 500 kWp projects.
The subsidy is available only to these categories:
 Residential: All types of residential buildings.

 Institutional: Schools, health institutions including medical colleges and hospitals, educational
institutes (both public and private), R&D institutions, etc.
 Government Buildings: Both Central and State Government Buildings.
 Social Sector: Community Center, Welfare homes, old age homes, orphanages, etc.
How do you apply for Subsidy- The process of application for subsidy is quite straight forward. First thing
you need to do is contact your State Nodal Agency.

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Solar Business

Solar Energy – Current & Future Aspects

Solar Based Products

Types of Solar PV Cells

Ideal Solar Panel System Type for your home

Grid Connected Solar Panel System:

Solar Panel Prices of different Manufacturers in India

Manufacturer Min Price Max Price

Vikram Solar Rs 19/Watt Rs 30/Watt

Waaree Solar Rs 19/Watt Rs 28/Watt

Luminous Rs 24/Watt Rs 58/Watt

Tata Power Solar Rs 20/Watt Rs 62/Watt

Adani Solar Rs 18/Watt Rs 35/Watt

Microtek Solar Rs 25/Watt Rs 60/Watt

Some other good brands are Emmvee Solar, Navitas Solar.

Manufacturer Min Price Max Price

Panasonic Rs 24/Watt Rs 52/Watt

Canadian Solar Rs 25/Watt Rs 46/Watt

Space Requirements of a Solar Panel System

Warranties and Maintenance requirements for a Solar PV system

How to get Subsidies on Solar PV Rooftop?

The subsidy is available only to these categories:

 Residential: All types of residential buildings.

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