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Indian Solar Rooftop PV - A Bright Investment (21.08.18)

The document presents an analysis of India's solar rooftop photovoltaic (PV) market, highlighting a growth rate exceeding 80% annually, driven largely by industrial and commercial segments. It details the installed capacity, financial evaluations, state-specific policies, and project economics for rooftop solar systems in various states, considering factors like grid tariffs, payback periods, and attractiveness metrics. The findings emphasize the opportunity potential in 2022, identifying cities with favorable conditions for solar investments and the sensitivity of project costs to various economic parameters.

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GENSOL ENGINEERING PVT. LTD www.gensol.in Indian Solar Rooftop PV – A Bright Investment
Rooftop Overview - Focus to Indian Scenario Gensol Group Jawaharlal Nehru National Solar Mission Atal Innovation Mission Make in India Smart Cities Mission 24X7 Power for all Ujjawal DISCOM Assurance Yojana Supportive GoI Missions & Initiatives for Rooftop PV Solar India’s total installed solar capacity is estimated to have reached 21.65 GW as on June 2018. This includes 19.65 GW of utility scale (90%) and 2 GW (Approx.) of rooftop solar capacity (10%). Source – CER, 2018 Indian rooftop solar market growing at over 80% annually.
Industrial & Commercial are more attractive relative to residential segments Gensol Group Assessment Parameters Industrial Commercial Residential Attractiveness Regulatory Support Tariff Parity Opportunity Potential in 2022 Realizable Opp. Size in 2022 Overall Attractiveness TariffAttractiveness Net tariff differential between the existing variable tariff for that sub- segment and potential solar tariff in year 1 in that state for a 15% IRR OpportunityPotential Rooftop solar market opportunity size (MW) Current penetration (as a % of potential) PolicySupport Specific elements of state solar policy that are beneficial to a developer: - Subsidies & incentives - Strength of intent 0 1000 2000 3000 4000 5000 Lakshadweep Arunachal Pradesh Meghalaya Nagaland Tripura Puducherry Goa Assam Uttarakhand Chhattisgarh Kerala Odisha Haryana Punjab West Bengal Karnataka Gujarat Uttar Pradesh Year Wise NSM Rooftop Target for all States 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Rooftop Attractiveness Evaluation -Methodology Gensol Group Gensol has carried out assessment from solar investor's and customer’s point of view to portray attractiveness of rooftop segment for both industrial and commercial segments and to understand project economics. 1) State Prioritization 2) Estimation of Solar PV Plant Capacity 3) Energy Prediction For 1 MW Rooftop (RT) Solar PV System 4) Identification Of Grid Tariff for Industrial & Commercial Consumers 5) Financial Analysis - LCOE, EIRR, PIRR And Payback Periods. Results And Sensitivity Scenarios The following methodology has been adopted for evaluation: Financial Pillars Of Solar Project
Methodology & Assumptions Gensol Group All States in India - 29 Well Defined Solar Policy - 21 Net Metering Policy - 20 Solar Radiation>5 kWh/m2) -15 State Prioritization Criteria1 Priority 1 Commercial - MH, TN, RJ, KA & DL Industrial - MH, TN, RJ & DL; KA and RJ Priority 2 Commercial - UP, PB, TS & OR Industrial - KA, UP, PB, & TS PV Capacity Estimation2 Solar PV Capacity has been estimated to be 1 MW to understand the project economics on common base.
Methodology & Assumptions Gensol Group Solar Energy Estimation3 Grid Tariff Comparison4 Financial Assumptions5 Energy generation from 1 MW RT solar PV plant estimated for following project configuration: • Module - 325 kW Polycrystalline (Tier 1) • Inverter- 50 kW String Inverters (Tier 1) • Concrete Roofs (RCC ) with Pitch - 7 meters • Tilt angle – 17 to 26 degrees on based on optimisation • Azimuth- 0 deg. (True South ) Grid tariff selection methodology • HT Tariff slab • HT consumers (industrial & commercial) -11/33kV • Weighted average calculated for State wise latest tariff orders • Electricity duty included in grid tariffs • Fuel charges not considered. Investor profile Commercial /Industrial Expected commissioning date 1-Jan-2019 DC Capacity of system (kWp) 1200 AC Capacity of system(kW) 1000 Exceedance probability P75 O&M expense for project during 1st year (Rs/Wp) 0.40 Annual increase in O&M Cost 4.0% Project Price per Watt peak (Wp) 40.0 Debt 70% Equity 30% Subsidy benefit excluded Rate of interest of domestic bank loan 13% Repayment period of domestic loan 10 years Annual escalation in grid tariff 0.0% Life of plant 25 years Book depreciation rate (SLM) 5.28% Normal depreciation rate for tax calculations 15% Corporate Tax 25-30% Minimum Alternate Tax 20% Analysis & Results6 LCOE (Rs/kWh) Equity IRR (%) Project IRR (%) Payback period (Years)
Industrial Sector –Attractiveness Gensol Group Industrial Buildings Scenario Top Cities (Rank Wise- Payback period) Specific Yield (kWh/kWp/year) Grid Tariff (Rs./kWh) LCOE (Rs./kWh) PIRR (%) EIRR (%) Payback period (yrs) New Delhi 1750 7.61 3.59 29.81% 50.27% 2.87 Pune 1720 7.63 3.99 28.32% 46.44% 3.06 Jaipur 1713 7.40 3.67 28.36% 46.38% 3.07 Bangalore 1685 7.32 3.73 27.61% 44.40% 3.18 Lucknow 1561 6.83 4.06 23.69% 34.53% 4.00 Hyderabad 1603 6.52 3.92 23.43% 33.89% 4.07 Chennai 1534 6.67 4.10 22.93% 32.72% 4.22 Bhopal 1606 6.33 3.92 22.75% 32.31% 4.27 Chandigarh 1654 5.75 3.80 21.31% 29.01% 4.78 Ahmedabad 1653 4.97 3.80 18.37% 22.82% 6.30 Bhubaneshwar 1488 4.70 4.23 15.49% 17.40% 8.75 Financial highlights for industrial rooftop solar projects:
Commercial Sector –Attractiveness Gensol Group Commercial Buildings Scenario Top Cities (Ranking Wise- Payback period) Specific Yield (kWh/kWp/year ) Grid Tariff (Rs./kWh) LCOE (Rs./kWh) PIRR (%) EIRR (%) Payback period (yrs) Pune 1720 13.85 3.99 52.01% 118.13% 1.66 Jaipur 1713 9.20 3.67 35.17% 65.44% 2.36 Bangalore 1685 9.12 3.73 34.31% 62.95% 2.43 New Delhi 1750 8.40 3.59 32.85% 58.77% 2.55 Lucknow 1561 8.65 4.06 29.96% 50.69% 2.85 Chennai 1534 8.40 4.10 28.85% 47.69% 3.00 Hyderabad 1603 7.42 3.92 26.65% 41.89% 3.34 Bhopal 1606 6.65 3.92 23.92% 35.07% 3.94 Chandigarh 1654 6.44 3.80 23.87% 34.95% 3.95 Ahmedabad 1653 5.40 3.80 20.00% 26.18% 5.36 Bhubaneshwar 1488 4.70 4.23 15.49% 17.40% 8.75 Financial highlights for commercial rooftop solar projects:
LCOE IRR Trends - Industrial Vs Commercial Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 Grid Tariff Vs Solar LCOE for Rooftop SPV Grid Tariff (Rs./kWh) LCOE (Rs./kWh) Payback period (yrs) PIRR (%) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 Grid Tariff Vs Solar LCOE for Rooftop SPV Grid Tariff (Rs./kWh) LCOE (Rs./kWh) Payback period (yrs) PIRR (%)
Sensitivity Analysis – State-Wise Gensol Group Sensitivity analysis has been carried out for all the 11 states to understand the impact on a particular dependent variable like project cost, tariff, O&M cost and interest rate under a given set of assumptions. Sensitivity Analysis Project Cost ±10% Tariff ±5% O&M Cost ±20% Interest Rate ±2% 4 3 2 1 New Delhi, Delhi Pune, Maharashtra Jaipur, Rajasthan Bangalore, Karnataka 9 7 8 Hyderabad, Telangana Chandigarh, Punjab Lucknow, Uttar Pradesh 5 Ahmedabad, Gujarat 10 Chennai, Tamil Nadu 11 Bhubaneshwar, Orissa 6 Bhopal, MP 12 Results & Ranking Click on cities to check the sensitivities
New Delhi - Sensitivity Analysis Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Delhi Industrial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Delhi Commercial - Sensitivity PIRR (%) Payback period (yrs)
Pune, Maharashtra - Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Maharashtra Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Maharashtra Industrial - Sensitivity PIRR (%) Payback period (yrs)
Jaipur, Rajasthan - Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Rajasthan Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Rajasthan Industrial - Sensitivity PIRR (%) Payback period (yrs)
Bangalore, Karnataka - Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Karnataka Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Karnataka Industrial - Sensitivity PIRR (%) Payback period (yrs)
Ahmedabad, Gujarat - Sensitivity on Tariff (1) Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Gujarat Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Gujarat Industrial - Sensitivity PIRR (%) Payback period (yrs)
Hyderabad, Telangana- Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Telangana Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Telangana Industrial - Sensitivity PIRR (%) Payback period (yrs)
Chandigarh, Punjab - Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Punjab Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Punjab Industrial - Sensitivity PIRR (%) Payback period (yrs)
Bhopal, Madhya Pradesh- Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Madhya Pradesh Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Madhya Pradesh Industrial - Sensitivity PIRR (%) Payback period (yrs)
Lucknow, Uttar Pradesh - Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Uttar Pradesh Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Uttar Pradesh Industrial - Sensitivity PIRR (%) Payback period (yrs)
Chennai, Tamil Nadu - Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Tamil Nadu Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Tamil Nadu Industrial - Sensitivity PIRR (%) Payback period (yrs)
Bhubaneshwar, Odisha- Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Odisha Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Odisha Industrial - Sensitivity PIRR (%) Payback period (yrs)
Results and Recommendations Gensol Group Industrial Ranking New Delhi Jaipur Pune Bangalore Lucknow Hyderabad Chennai Bhopal Chandigarh Ahmedabad Bhuvnesh war Commercia l Ranking Pune Jaipur Bangalore New Delhi Lucknow Chennai Hyderabad Bhopal Chandigarh Ahmedabad Bhuvnesh war 1 2 3 4 5 6 7 8 9 1110 •Higher solar radiation in the location results in the lower solar Levelized Cost of Energy (LCOE) which makes the project technically feasible; •Higher the delta between grid tariff and solar LCOE or cost of generation in Rs/kWh, better the savings. Thus, higher the project IRR, equity IRR and lower will be the payback periods; •Highly sensitive parameters are project cost & tariffs followed by interest rates; •Least sensitive parameter is O&M cost; approx.. 0.10% of impact observed on the IRR on ±20% variation; •In almost all the states, higher PIRR is obtained as compared to domestic interest rate which makes rooftop project financially viable; •The impact of fiscal and financial incentives i.e., tax benefits, capital subsidy, depreciation benefits is not substantial. It has been analysed from the financial assessment and sensitivity that: Gofor Rooftop Solar GoGreen Rankingonthebasisofhighest PIRR,EIRRandpaybackperiod.
About Gensol Solar Advisory Services Solar EPC Services Solar O&M Services 20,332 MW 95 MW 2200 MW Gensol Group Gensol provides concept to commissioning solar advisory, execution and operations services for Solar Projects in India and abroad. 150+ Advisors Anmol Singh Evangelist +91 7698833311 anmoljaggi@gensol.in Imran Naqvi Head of Strategic Advisory & Business Development +91 9327016962 imrannaqvi@gensol.in Gurpreet Singh Head of Engineering & Operations +91 9725544301 gurpreetsingh@gensol.in Puneet Singh Jaggi Director +91 9998025820 puneetjaggi@gensol.in Pranay Mundra President +91 9850673664 pranaymundra@gensol.in Shivya Singhal Head of Supply Chain & Group CFO +91 9376703846 shivyasinghal@gensol.in 230+ Projects 70+ Engineers 170+ Projects 210+ Engineers 45+ Projects
Gensol is one of the leading consultants and system integrators for Solar Power Plants. We boast of a portfolio of over 6000 MW of Solar Photovoltaic Plants. Gensol is also a channel partner to Ministry of New & Renewable Energy and installs kW scale Solar Rooftop systems on a turnkey basis with more than 42 MW of cumulative installations across the country. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Email: solar@gensol.in | Web: www.gensol.in | Phone: +91 79 40068235 | Twitter: gensol_tweets Gensol Engineering Pvt Ltd | Gensol Consultants Pvt Ltd | Solarig Gensol Utilities Pvt Ltd Corporate Office A2, 12th Floor Palladium, Opp. to Vodafone House , Corporate Road, Prahladnagar, Ahmedabad, Gujarat. India - 380015

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Indian Solar Rooftop PV - A Bright Investment (21.08.18)

  • 1.
    GENSOL ENGINEERING PVT.LTD www.gensol.in Indian Solar Rooftop PV – A Bright Investment
  • 2.
    Rooftop Overview -Focus to Indian Scenario Gensol Group Jawaharlal Nehru National Solar Mission Atal Innovation Mission Make in India Smart Cities Mission 24X7 Power for all Ujjawal DISCOM Assurance Yojana Supportive GoI Missions & Initiatives for Rooftop PV Solar India’s total installed solar capacity is estimated to have reached 21.65 GW as on June 2018. This includes 19.65 GW of utility scale (90%) and 2 GW (Approx.) of rooftop solar capacity (10%). Source – CER, 2018 Indian rooftop solar market growing at over 80% annually.
  • 3.
    Industrial & Commercialare more attractive relative to residential segments Gensol Group Assessment Parameters Industrial Commercial Residential Attractiveness Regulatory Support Tariff Parity Opportunity Potential in 2022 Realizable Opp. Size in 2022 Overall Attractiveness TariffAttractiveness Net tariff differential between the existing variable tariff for that sub- segment and potential solar tariff in year 1 in that state for a 15% IRR OpportunityPotential Rooftop solar market opportunity size (MW) Current penetration (as a % of potential) PolicySupport Specific elements of state solar policy that are beneficial to a developer: - Subsidies & incentives - Strength of intent 0 1000 2000 3000 4000 5000 Lakshadweep Arunachal Pradesh Meghalaya Nagaland Tripura Puducherry Goa Assam Uttarakhand Chhattisgarh Kerala Odisha Haryana Punjab West Bengal Karnataka Gujarat Uttar Pradesh Year Wise NSM Rooftop Target for all States 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
  • 4.
    Rooftop Attractiveness Evaluation-Methodology Gensol Group Gensol has carried out assessment from solar investor's and customer’s point of view to portray attractiveness of rooftop segment for both industrial and commercial segments and to understand project economics. 1) State Prioritization 2) Estimation of Solar PV Plant Capacity 3) Energy Prediction For 1 MW Rooftop (RT) Solar PV System 4) Identification Of Grid Tariff for Industrial & Commercial Consumers 5) Financial Analysis - LCOE, EIRR, PIRR And Payback Periods. Results And Sensitivity Scenarios The following methodology has been adopted for evaluation: Financial Pillars Of Solar Project
  • 5.
    Methodology & Assumptions GensolGroup All States in India - 29 Well Defined Solar Policy - 21 Net Metering Policy - 20 Solar Radiation>5 kWh/m2) -15 State Prioritization Criteria1 Priority 1 Commercial - MH, TN, RJ, KA & DL Industrial - MH, TN, RJ & DL; KA and RJ Priority 2 Commercial - UP, PB, TS & OR Industrial - KA, UP, PB, & TS PV Capacity Estimation2 Solar PV Capacity has been estimated to be 1 MW to understand the project economics on common base.
  • 6.
    Methodology & Assumptions GensolGroup Solar Energy Estimation3 Grid Tariff Comparison4 Financial Assumptions5 Energy generation from 1 MW RT solar PV plant estimated for following project configuration: • Module - 325 kW Polycrystalline (Tier 1) • Inverter- 50 kW String Inverters (Tier 1) • Concrete Roofs (RCC ) with Pitch - 7 meters • Tilt angle – 17 to 26 degrees on based on optimisation • Azimuth- 0 deg. (True South ) Grid tariff selection methodology • HT Tariff slab • HT consumers (industrial & commercial) -11/33kV • Weighted average calculated for State wise latest tariff orders • Electricity duty included in grid tariffs • Fuel charges not considered. Investor profile Commercial /Industrial Expected commissioning date 1-Jan-2019 DC Capacity of system (kWp) 1200 AC Capacity of system(kW) 1000 Exceedance probability P75 O&M expense for project during 1st year (Rs/Wp) 0.40 Annual increase in O&M Cost 4.0% Project Price per Watt peak (Wp) 40.0 Debt 70% Equity 30% Subsidy benefit excluded Rate of interest of domestic bank loan 13% Repayment period of domestic loan 10 years Annual escalation in grid tariff 0.0% Life of plant 25 years Book depreciation rate (SLM) 5.28% Normal depreciation rate for tax calculations 15% Corporate Tax 25-30% Minimum Alternate Tax 20% Analysis & Results6 LCOE (Rs/kWh) Equity IRR (%) Project IRR (%) Payback period (Years)
  • 7.
    Industrial Sector –Attractiveness GensolGroup Industrial Buildings Scenario Top Cities (Rank Wise- Payback period) Specific Yield (kWh/kWp/year) Grid Tariff (Rs./kWh) LCOE (Rs./kWh) PIRR (%) EIRR (%) Payback period (yrs) New Delhi 1750 7.61 3.59 29.81% 50.27% 2.87 Pune 1720 7.63 3.99 28.32% 46.44% 3.06 Jaipur 1713 7.40 3.67 28.36% 46.38% 3.07 Bangalore 1685 7.32 3.73 27.61% 44.40% 3.18 Lucknow 1561 6.83 4.06 23.69% 34.53% 4.00 Hyderabad 1603 6.52 3.92 23.43% 33.89% 4.07 Chennai 1534 6.67 4.10 22.93% 32.72% 4.22 Bhopal 1606 6.33 3.92 22.75% 32.31% 4.27 Chandigarh 1654 5.75 3.80 21.31% 29.01% 4.78 Ahmedabad 1653 4.97 3.80 18.37% 22.82% 6.30 Bhubaneshwar 1488 4.70 4.23 15.49% 17.40% 8.75 Financial highlights for industrial rooftop solar projects:
  • 8.
    Commercial Sector –Attractiveness GensolGroup Commercial Buildings Scenario Top Cities (Ranking Wise- Payback period) Specific Yield (kWh/kWp/year ) Grid Tariff (Rs./kWh) LCOE (Rs./kWh) PIRR (%) EIRR (%) Payback period (yrs) Pune 1720 13.85 3.99 52.01% 118.13% 1.66 Jaipur 1713 9.20 3.67 35.17% 65.44% 2.36 Bangalore 1685 9.12 3.73 34.31% 62.95% 2.43 New Delhi 1750 8.40 3.59 32.85% 58.77% 2.55 Lucknow 1561 8.65 4.06 29.96% 50.69% 2.85 Chennai 1534 8.40 4.10 28.85% 47.69% 3.00 Hyderabad 1603 7.42 3.92 26.65% 41.89% 3.34 Bhopal 1606 6.65 3.92 23.92% 35.07% 3.94 Chandigarh 1654 6.44 3.80 23.87% 34.95% 3.95 Ahmedabad 1653 5.40 3.80 20.00% 26.18% 5.36 Bhubaneshwar 1488 4.70 4.23 15.49% 17.40% 8.75 Financial highlights for commercial rooftop solar projects:
  • 9.
    LCOE IRR Trends- Industrial Vs Commercial Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 Grid Tariff Vs Solar LCOE for Rooftop SPV Grid Tariff (Rs./kWh) LCOE (Rs./kWh) Payback period (yrs) PIRR (%) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 Grid Tariff Vs Solar LCOE for Rooftop SPV Grid Tariff (Rs./kWh) LCOE (Rs./kWh) Payback period (yrs) PIRR (%)
  • 10.
    Sensitivity Analysis –State-Wise Gensol Group Sensitivity analysis has been carried out for all the 11 states to understand the impact on a particular dependent variable like project cost, tariff, O&M cost and interest rate under a given set of assumptions. Sensitivity Analysis Project Cost ±10% Tariff ±5% O&M Cost ±20% Interest Rate ±2% 4 3 2 1 New Delhi, Delhi Pune, Maharashtra Jaipur, Rajasthan Bangalore, Karnataka 9 7 8 Hyderabad, Telangana Chandigarh, Punjab Lucknow, Uttar Pradesh 5 Ahmedabad, Gujarat 10 Chennai, Tamil Nadu 11 Bhubaneshwar, Orissa 6 Bhopal, MP 12 Results & Ranking Click on cities to check the sensitivities
  • 11.
    New Delhi -Sensitivity Analysis Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Delhi Industrial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Delhi Commercial - Sensitivity PIRR (%) Payback period (yrs)
  • 12.
    Pune, Maharashtra -Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Maharashtra Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Maharashtra Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 13.
    Jaipur, Rajasthan -Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Rajasthan Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Rajasthan Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 14.
    Bangalore, Karnataka -Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Karnataka Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Karnataka Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 15.
    Ahmedabad, Gujarat -Sensitivity on Tariff (1) Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Gujarat Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Gujarat Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 16.
    Hyderabad, Telangana- Sensitivityon Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Telangana Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Telangana Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 17.
    Chandigarh, Punjab -Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Punjab Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Punjab Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 18.
    Bhopal, Madhya Pradesh-Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Madhya Pradesh Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Madhya Pradesh Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 19.
    Lucknow, Uttar Pradesh- Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Uttar Pradesh Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Uttar Pradesh Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 20.
    Chennai, Tamil Nadu- Sensitivity on Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Tamil Nadu Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Tamil Nadu Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 21.
    Bhubaneshwar, Odisha- Sensitivityon Tariff Gensol Group Industrial Buildings ScenarioCommercial Buildings Scenario Back 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Odisha Commercial - Sensitivity PIRR (%) Payback period (yrs) 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Tariff-5% Tariff-2.5% Tariff0% Tariff+2.5% Tariff+5% Projectcost-10% Projectcost-5% Projectcost-0% Projectcost+5% Projectcost+10% O&M-20% O&M-10% O&M0% O&M+10% O&M+20% Interest-2% Interest-1% Interest0% Interest+1% Interest+2% Odisha Industrial - Sensitivity PIRR (%) Payback period (yrs)
  • 22.
    Results and Recommendations GensolGroup Industrial Ranking New Delhi Jaipur Pune Bangalore Lucknow Hyderabad Chennai Bhopal Chandigarh Ahmedabad Bhuvnesh war Commercia l Ranking Pune Jaipur Bangalore New Delhi Lucknow Chennai Hyderabad Bhopal Chandigarh Ahmedabad Bhuvnesh war 1 2 3 4 5 6 7 8 9 1110 •Higher solar radiation in the location results in the lower solar Levelized Cost of Energy (LCOE) which makes the project technically feasible; •Higher the delta between grid tariff and solar LCOE or cost of generation in Rs/kWh, better the savings. Thus, higher the project IRR, equity IRR and lower will be the payback periods; •Highly sensitive parameters are project cost & tariffs followed by interest rates; •Least sensitive parameter is O&M cost; approx.. 0.10% of impact observed on the IRR on ±20% variation; •In almost all the states, higher PIRR is obtained as compared to domestic interest rate which makes rooftop project financially viable; •The impact of fiscal and financial incentives i.e., tax benefits, capital subsidy, depreciation benefits is not substantial. It has been analysed from the financial assessment and sensitivity that: Gofor Rooftop Solar GoGreen Rankingonthebasisofhighest PIRR,EIRRandpaybackperiod.
  • 23.
    About Gensol Solar AdvisoryServices Solar EPC Services Solar O&M Services 20,332 MW 95 MW 2200 MW Gensol Group Gensol provides concept to commissioning solar advisory, execution and operations services for Solar Projects in India and abroad. 150+ Advisors Anmol Singh Evangelist +91 7698833311 anmoljaggi@gensol.in Imran Naqvi Head of Strategic Advisory & Business Development +91 9327016962 imrannaqvi@gensol.in Gurpreet Singh Head of Engineering & Operations +91 9725544301 gurpreetsingh@gensol.in Puneet Singh Jaggi Director +91 9998025820 puneetjaggi@gensol.in Pranay Mundra President +91 9850673664 pranaymundra@gensol.in Shivya Singhal Head of Supply Chain & Group CFO +91 9376703846 shivyasinghal@gensol.in 230+ Projects 70+ Engineers 170+ Projects 210+ Engineers 45+ Projects
  • 24.
    Gensol is oneof the leading consultants and system integrators for Solar Power Plants. We boast of a portfolio of over 6000 MW of Solar Photovoltaic Plants. Gensol is also a channel partner to Ministry of New & Renewable Energy and installs kW scale Solar Rooftop systems on a turnkey basis with more than 42 MW of cumulative installations across the country. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Email: solar@gensol.in | Web: www.gensol.in | Phone: +91 79 40068235 | Twitter: gensol_tweets Gensol Engineering Pvt Ltd | Gensol Consultants Pvt Ltd | Solarig Gensol Utilities Pvt Ltd Corporate Office A2, 12th Floor Palladium, Opp. to Vodafone House , Corporate Road, Prahladnagar, Ahmedabad, Gujarat. India - 380015