Why We Need Solar Power
Why we Need Solar Power
Sun is the biggest power plant of our galaxy, which always available to provide Clean, Green and inexhaustible energy and therefore it is Environment Friendly.
The Coal stock is depleting. India’s national coal reserve is depleting &80% of the total requirement is being imported. The price of coal, whether indigenous or imported, will always be increasing thereby increasing the unit price of electricity.
Price of electricity from conventional sources is on the riseand during the last 2 years it has seen 20% to 37% increase in tariff by State Electricity Regulatory Commission (SERCs) across India and this trend will surely continue unless we harness the other alternatives.
The solar project developers in Indian market today possess the latest know-how and are looking for unutilized roof tops to install solar power projects.
The technology has increased the Project Sustainability & Viability and now cost is at grid parity due to scalability.
High Net-worth Individuals (HNIs) or entities having huge tax liabilities can invest in Solar Power Projects as IPP by signing a PPA for 25 years and earn around 16% IRR.
The Solar Power projects also fall under the defined activities of Corporate Social Responsibility (CSR) as mentioned in Companies Act, 2013. This would become the source of providing Solar Power to SHG, Societies, EWS, Village clusters and Trusts (Educational, Religious, etc.) located in the backward area and due to scarcity of funds are not able to avail this abundant power.