All posts tagged: solar panels

Green hydrogen will cut cost of energy to Rs 6 per unit: Minister R K Singh

September 20, 2023 admin solar panel Manufacturer No comments

New Delhi: The Union Minister for Power and New & Renewable Energy , R.K. Singh, said on Saturday that the cost of round-the-clock renewable energy will fall to just about Rs 6 per unit from Rs 8 per unit at present if green hydrogen is used for storage.

Speaking at the special ministerial session of the Fourth International Conference & Exhibition on Clean Energy here, Singh said that the cost of green hydrogen would be cheapest in India and that it would become a viable energy storage alternative.

“Green hydrogen is cheaper than gas and battery energy storage systems. We have come up with a pilot bid for about 100 MW which we hope will establish the benchmark. Once we are able to use green hydrogen for our energy requirements, all supply chain issues such as availability of lithium-ion batteries will be resolved. We will make green hydrogen and use it as storage,” he said.

“The average price of power in the energy exchange has recently been Rs 8 per unit, so if our cost for round-the-clock renewable energy comes to Rs 6 per unit, we are in business. That is what the future is: Renewables . The future is here, not far away,” the minister remarked.

The theme of the special ministerial session, held on the closing day of the two-day summit, was ‘Global Champions for Advancing Clean Energy Innovation & Manufacturing’.

The Minister informed the captains of industry that the basic legal framework for the carbon market has been formulated and that the government is thinking of permitting industry to gain carbon credits for green hydrogen and green ammonia which is exported from India. With this, the industry will have yet another advantage, which will make Indian industry totally competitive, the minister added.

“If our price for round-the-clock renewable energy is anything to go by, then we will not have to go the thermal way, we will adopt the renewable path. About 42% of our capacity is from renewable sources already,” Singh said.

The minister pointed out that India is emerging as a manufacturing powerhouse of renewable energy.

“Around 88,000 MW renewable energy capacity is under construction and our plan is to add 50,000 MW of renewable energy capacity every year. We are already emerging as an exporter. The world will come to rely on us more and more. So, all those who are setting up capacity have made a good bet. At the same time, we need to keep ourselves at the leading edge of technology,” he added.

He also said that India is going to emerge as the biggest exporter of solar cells and modules and that more grid capacity is being added.
source – Economictimes

Solar panel makers may get priority sector lending tag

September 15, 2023 admin solar panel Manufacturer No comments

Officials from the ministries of finance and renewable energy as well as bankers have held several meetings over the past two months on financing-related issues faced by solar photovoltaic makers, following which the recommendations were sent by the banks.

New Delhi: The Reserve Bank is examining a recommendation from banks to include loans to
solar panel manufacturers within the priority sector lending bracket and is expected to take a decision
in the next two-three months, people familiar with the deliberations said.

“After discussion with all stakeholders, two recommendations were agreed upon. While banks have sought

tags for solar panel manufacturers, the renewable energy ministry has made a case for considering modifications in the production-linked incentive (PLI) scheme for this sector,” said an official requesting anonymity.

Solar associations have argued that duty-free imports from Southeast Asian countries under free trade agreements, or FTAs, are hurting domestic manufacturers.

A bank executive said the finance ministry had asked lenders to share their inputs for the formulation of a policy to ease financing for the sector.

“The proposal to include this in priority sector lending and PLI schemes is in line with the discussion held with association members and representatives of the renewable energy ministry,” he said.

Earlier, solar associations had argued that solar exports hadn’t come down as expected.

“We have apprised the government that these could be Chinese manufacturers, who have shifted their base to these countries and are exporting from there,” said an association member, adding that as per the data they shared with the government, in the last 2-3 months, solar imports from countries with whom India has FTAs have increased by 48%.

As per report by energy think-tank Ember, solar module imports from China decreased nearly 80%, or by $2 billion in value, in first half of 2023. “This followed imposition of tariffs as India shifts away from imports to focus on building and utilising domestic manufacturing capacity. India’s domestic solar module manufacturing capacity has stepped up,” the report said.

Source – Economictimes

Cost of Solar Panels in India 2023

August 18, 2023 admin Solar Panel No comments

Table of Contents

In a world where energy costs seem to perpetually rise, there’s a glimmer of hope on the horizon – solar panels. They hold the promise of sustainable power, reduced bills, and a cleaner environment. But the first question on everyone’s mind is, “What is the cost of solar panels in India?” Join us as we delve into the intricacies of solar panel expenses in India and know how solar panels really work.

Components of Solar Energy

Solar Energy consists of 4 main components that make the solar panels work:

Solar Panels
Solar Battery
Solar Inverter
Solar Inverter
Stand for Solar Panels
Other necessary accessories

Types of Solar Panels System

Solar Panel System with Battery (Off-Grid System)
Solar Panel System without Battery (On-Grid System)

Types of Solar Panels

Polycrystalline Solar Panels: Traditional & Cost-effective Solar Panels
Mono Crystalline Solar Panels: Highly-advanced, space saving and aesthetic solar panels available in India
Thin-Film Solar Panels : Relatively low-cost and short span solar panels

How to Find the Best Solar Panels for your home and workspace?

Solar Panel Capacity

A crucial factor influencing solar panel costs is their capacity, typically measured in watts. Higher-capacity panels generate more electricity but can be costlier upfront. It’s essential to strike a balance between capacity and budget to ensure your system meets your energy needs.

Pick the Best Brand for Solar Panels in india

The quality and brand of solar panels play a significant role in their pricing. Investing in high-quality panels from reputable manufacturers can result in better long-term performance and durability. While these panels may come with a higher initial cost, they often prove to be more cost-effective in the long run due to their reliability.

Certification & Licences

When purchasing solar panels in India, always look for the ones enlisted in ALMM (Approved List of Models & Manufacturers) and BIS Certified that are the ultimate marks of trust.

Average Cost of Solar Panels in India

Solar panels cost in India begins at Rs 40,000 and can vary as per the quality, capacity, brand and installation dynamics.

Following are some factors affecting the cost of solar panels in India

Type of Solar Panel: The choice between monocrystalline, polycrystalline, or thin-film panels can impact the price. Monocrystalline panels are generally more efficient but costlier.

Panel Capacity: Panels with higher wattage or capacity tend to be more expensive. Consider your energy needs when selecting panel capacity.

Quality and Brand: High-quality panels from reputable brands may come with a higher upfront cost but often offer better long-term performance and warranties.

Installation Costs: Professional installation by certified technicians adds to the overall expense. Proper installation ensures safety and system efficiency.

Government Incentives: Government incentives, such as subsidies, tax credits, and rebates, can significantly reduce the cost of solar panel installations.

Location and Sunlight: The geographical location and local sunlight availability can affect the efficiency of your solar panels, which can influence your overall return on investment.

Maintenance and Operational Costs: Although solar panels have low maintenance requirements, long-term operational costs, including cleaning and potential repairs, should be considered.

Financing Options: The method of financing, whether through loans, leases, or power purchase agreements (PPAs), can impact the overall cost structure of your solar panel system.

Aesthetic Considerations: If you opt for aesthetically customised solar panels or integration into architectural designs, it can increase costs.

Conclusion

Solar Energy System installation is a very important process and it is beneficial only when done by the experts. IB Solar provides you complete professional assistance for installation of your Solar Energy System. If you are looking to install a solar panel, contact a experienced installer to ensure a long life for your long life to your solar panel. IB Solar provides a number of Solar Energy Systems with a wide variety of products. For proper Installation of Solar energy system, it is necessary to contact a experienced installer and get all the necessary products.

How Businesses can take ESG Approach by Going Solar?

August 16, 2023 admin Solar Panel No comments

In today’s ever-evolving financial landscape, investors are no longer solely focused on financial returns. There’s a growing interest in Environmental, Social, and Governance (ESG) factors. These criteria, encompassing a company’s commitment to sustainability, ethical practices, and responsible management, have become crucial considerations for investors seeking both financial gains and a positive impact on the world. This blog aims to provide a comprehensive overview of ESG, its components, and its significance in contemporary investing.

Types of Environmental, Social, and Governance (ESG) Criteria:

Environmental:

The environmental aspect of ESG assesses a company’s environmental policies, energy consumption, waste management, pollution control, and efforts to conserve natural resources. It also scrutinizes how a company deals with environmental risks and compliance with regulations, including emissions management and toxic waste handling.

Social:

Social criteria delve into a company’s relationships with its stakeholders and its impact on society. This includes evaluating employee well-being, community engagement, and corporate philanthropy. Investors appreciate companies that actively contribute to the welfare of the communities they operate in.

Governance:

Governance in ESG examines a company’s corporate governance practices, transparency, and accountability. It assesses the integrity of executives and board members, their diversity, and their commitment to impartial decision-making. A strong governance structure ensures that a company is managed responsibly and ethically.

Pros and Cons of Environmental, Social, and Governance (ESG) Criteria:

ESG criteria have evolved beyond mere social consciousness. They have become tools for investors to identify companies committed to social responsibility and accountability. While some investors may have initially thought of ESG as a financial sacrifice, it has increasingly been recognized as a way to invest in responsible and sustainable businesses.

How Businesses Can Implement an ESG Approach:

In India, the Companies Act of 2013 made Corporate Social Responsibility (CSR) reporting and spending mandatory, marking a significant step toward sustainability. Additionally, SEBI introduced the Business Responsibility and Sustainability Report (BRSR) for the top 1,000 listed companies. This initiative promotes ESG disclosures, addressing significant ESG opportunities, risks, financial impacts, and risk management. India’s efforts to establish a robust ESG framework align with global trends.

There are five guiding principles that can help businesses excel in their ESG initiatives:

Go Beyond Environment: Extend ESG efforts beyond environmental concerns to encompass social and governance aspects.
Develop Tools for ESG Data Management: Implement data management systems to effectively track and report ESG performance.
Prepare for ESG Reporting: Be ready to meet ESG reporting requirements, both mandatory and voluntary.
Measure and Manage Emissions: Focus on emission measurement and management to reduce environmental impact.
Use ESG Communication for Business Edge: Effectively communicate ESG efforts to gain a competitive advantage.

In an era where environmental, social, and governance (ESG) principles are taking center stage in investment decisions, the adoption of solar energy emerges as a powerful means to achieve these targets. Solar businesses exemplify a commitment to the environment through clean energy production, contribute to social well-being by creating local jobs and supporting communities, and demonstrate strong governance by adhering to responsible management practices. By harnessing the power of the sun, businesses not only enhance their financial prospects but also play an active role in making the world cleaner and greener. The path to a sustainable future begins with a single, responsible choice, and solar energy offers a shining beacon towards that brighter tomorrow.

How to Calculate the Roof Top Area Required to Install Solar Panels?

July 13, 2023 admin solar panel Manufacturer No comments

Are you planning on installing a Solar Power Project on your Rooftop but confused about the total Rooftop area needed to install one? Don’t worry; you have come to the right place. This article will give you a quick and easy step-by-step Guide on How to Calculate the Roof Top Area Required to Install Solar Panels for installing a fully-functional Residential Solar Project.

Find out the Number of Solar Panels Required

To find this, You need to go through the Electricity Bills of the last 12 months, in which you will find a column that shows the Electricity Units (kWh) used Every Month.

Once you have the data of the last 12 months, you need to perform the following 3 easy steps:

Firstly, find a Simple Average of all Monthly Consumption of Units by Adding them together and Dividing the total by 12 and you will get your Average Monthly Electricity Consumption (Units per Month) of your House.
Secondly, Divide the above Average Monthly Electricity Consumption (in Units) by Total Units generated by a 1 kW Solar System Per Month, and you will get the Total Size of the Solar Project (in kW)

Don’t get confused about the ‘Total Units generated by 1 kW Solar System Per Month’ As a Thumb Rule, In India, 1 kW Solar System is able to generate 4 Units of Electricity every day. Hence ‘Total Units generated by 1 kW Solar System in a Month of 30 Days’ is 120 Units (30 Days x 4 Units per Day)

Lastly, Divide the Total Size of the Solar Project (in kW) derived in the above step by the Total Size of 1 Solar Panel, and you’ll get the Total Number of Solar Panels (in Nos.) Required.

Generally, the Total Size of 1 Solar Panel is 330 Watts or 0.33 kW. Another thing to keep in mind is that 1kW=1000 Watts.

Let’s again understand this calculation with the help of an Example.

Say, Raj’s House’s last 12 Month’s Electricity Bills show the following monthly usage:
210, 300, 400, 500, 500, 500, 600, 400, 300, 200, 200, 210 (in Units)

Hence,

Total usage in a year (Total of all the Monthly units used) = 4320
Total Units generated by 1 kW Solar System in a Month of 30 Days in India are120 Units
The Total Size of 1 Solar Panel is 330 Watts or 0.33 kW

Accordingly, We will follow the 3 step guide to find the Total Number of Solar Panels required to power Raj’s House.

Average Monthly Electricity Consumption (in Units) = 360 Units (4320/12)
Total Size of the Solar Project (in kW) = 3 kW or 3000 Watts (360/120)
Total Number of Solar Panels (in Nos) = 09 or 9 (Approx) (3000/330)

In conclusion, Raj’s House will require a Solar Plant of 3 kW comprising 9 Solar Panels of 330 Watts each.

Find out the total Rooftop Area Required to install these Solar Panels

One Solar Panel of 330 Watts has a Standard Surface area of 20.86 sq. ft. approximately
Hence, you only need to Multiply the Surface Area of one Panel with the Total Number of Panels required for your house, and you will easily get the Total Rooftop Area required to install your Residential Solar Power Project. This area should be a Shadow-Free area, which means that it should receive direct sunlight for at least 5 hours during the day.

In the example of Raj’s House, he will need a total Rooftop Area of 187.74 sq. ft. (20.86 sq. ft. X 9 Panels)

This is the area, which is assumed as panels installed back to back and side by side to each other. However, in practical the installation is different. Practically, we have to leave the space between rows and columns of solar panels so that solar panel can be easily cleaned and for maintenance work also, there should be some space left to access the solar plant.

As a rule of thumb, we can install 1 kW of solar panels in 100 sq.ft of shadow free area on a RCC roof.

Therefore, area required for 3 kW of solar plant=3*100 sq ft=300 sq ft Now that you have understood the calculation of the estimated area required for your installation, you can accordingly proceed with your New Rooftop Solar Project. Get in touch with IB Solar to get these systems installed. Visit www.ibsolar.co.in for more information.