3rd July 2021
The popularity of solar energy is growing around the world. Earlier it was observed as an expensive investment, but today the scenario is different as solar energy is now seen as a good and viable source of investment. Counting its benefits, more and more Solar Power Energy Plants in India are being constructed, significantly profiting people in one way or another.
The energy production of the Solar Power Plant comes from photovoltaic panels. Here, Solar panels produce electrical energy in direct current. Therefore, a solar inverter device is needed to convert such energy into an alternating current, which fits domestic or industrial consumption.
Before setting up a Solar Plant, it is necessary to investigate the size of land required for its construction.
But choosing the location is not enough. Legal authorization is also required to develop the project. Moreover, your project must be approved by environmental, safety, health, etc., bodies.
Read further: How Much Solar Panel Installation Cost In India
Therefore, considering all the factors, approximately Rs. 4 crores is required for setting up a 1 MW Solar Plant, which means the estimated cost of 5 MW Solar Plant construction will be Rs. 20 crore.
The estimated cost for a 5MW plant would be near about 34.5 to 35 crores in India. Hence, with 20k - 20.5k units of electricity daily, Rs.45,000 to 60,000 can be generated. Accordingly, after excluding the minor O&M expenses, a total of Rs 1.75 crores approx. can be made after a year.
A 5 MW Solar Plant would make 6000 MWh per year due to the national average of four peak sun hours per day. So it can be said that a 5 MW Solar Plant can lead to annual revenue of about Rs. 1.5 - 1.75 crores per year.
You can also read: How Much Electricity does a 1mw Solar Power Plant Generate in a Month?