NEW DELHI: Significant real estate developers like IREO, Vatika, Wadhwa, DLF and Lodha Group are increasingly opting for solar power rooftops on their own structures because of reduced lifecycle expenses, favorable condition policies along with a brand differentiation.
While Mumbai-dependent real estate company Lodha Group is managing a pilot task utilizing solar power at its 4,500-acre township named Palava in Mumbai, an additional city based developer. The Wadhwa Team has tied up with Waaree Energies for setting up solar panels across all of their projects.
DLF recently strapped with solar power programmer Azure Energy to set up solar power panels around the rooftops of its Gurgaon qualities, whilst Vatika Group has tied up with Amplus Power Options to set up solar rooftop techniques throughout 6 buildings in Gurgaon.
Private equity account and developer IREO has also tied up for 100% solar energy with a 9 super watt (mw) 3rd-party dedicated solar farm in Haryana for its first developing at the 11 thousand sq ft IT SEZ becoming created in Gurgaon’s Golf Course Extension Street. The building will also have 600 KW rooftop solar power panels.
The cost of era of solar energy through rooftops concerns about Rs 6-7 for each unit or kilo watt hour (kwh), whereas peak power tariff in a state like New Delhi comes to about Rs 8 per unit, according to Amit Kumar, companion energy & resources, PwC.
Also, solar rooftops have a lifetime of around 25 years, in which the cost of era stays stable as the sunrays are free, however the tariff raises by about 5% year-on-year. “This means the lifecycle priced at makes it much more practical than grid energy, where the cost of era raises as time passes,” Kumar said.
The solar power rooftop market in India is predicted to develop at a CAGR of over 60% between 2016 and 2021, supported by favorable government steps and abundant solar power sources, based on a TechSci Study document.
Enhancing production technologies have led to decrease in price of solar panels leading to the total cost of power generation.
Sanjeev Aggarwal, handling director and chief professional official, Amplus Power, seems the price cost savings from solar energy generation from rooftops can differ from 15Percent to 40% based on the dimensions of the project and the condition where the project is located. “Also contractors are using solar power rooftops as a brand building tool to market homes to their customers,” he additional.
The main federal government scaled in the financial help for grid linked rooftop and small solar energy vegetation system by nearly 10-fold to Rs 5,000 crore this past year, inside a quote to improve the usage of clean energy.
The federal government has also modified the target of Nationwide Solar power Mission (NSM) from 20,000 mw to 100,000 mw by 2022. Of the, 40,000 MW is to come through grid connected solar rooftop systems.