Economic feasibility, profitability and mathematical analysis of 432 kw rooftop solar photovoltaic power plant

Energy plays a key role in both the economic growth & prosperity of the country. It determines the pace of development of the developing countries. There is a close relation between the Energy & future growth of a nation. Not only in India but also in the whole world, there is a never-ending and diverging need for energy. Since, ancient times, the energy are derived from one source or another. In much older periods, the demand for light & fuel was met with traditional sources like wood or animal dung or waste plants. Later they got replaced by coal, water & nuclear energy which were then available in abundance. But, as the time goes on, the limitations & drawbacks are stepping forward making the hunt for alternative sources of energy a must, considering the future generation & their needs with a long term vision. As its high time to think upon the quality of the environment, more and more awareness is generating for making the use of the environment friendly resources and products. Though sunlight is considered to be a “convincing solution” to the “need for clean, abundant, cheaper, renewable and environment friendly source of energy,” solar energy currently provides only about 0.01 percent of the total electricity supply needs; this indicates the huge scope of solar SPV in a sub-tropical country like India and rest of the world. When compared to conventional and other renewable energy sources, solar power is especially attractive because it can be easily scaled up Solar electricity can also be generated nearer to consumers and even on site, which greatly reduces or eliminates transmission costs and losses. Further, Ministry of New & Renewable Resources (MNRE) and the Ministry of Power (MoP), Govt. of india has an obligation to promote and support co-generation technologies and renewable sources for Power generation under the supervision of Nodal agencies and henceforth it will play a major role in mainstreaming renewable energy sector with other conventional energy sources in India. In view of the efforts of government and favorable government policies in renewable sector has compelled various agencies and institutions to look forward in this regard. Delhi technological University has took a step forward and decided to have a SPV rooftop system of 432 KW power. Assuring robust project design, reliability and best support, M/s Hero Future Energies Limited got this opportunity to implement a 432 kW SPV power Plant under the supervision and guidance of the esteemed professors on the rooftops of the buildings of the Delhi Technological University. This research work brings out the technical details & overall cost mitigating this pioneer project. The total power to be produced by the solar cells will be 432 kW. The cell technology, which is being used, is crystalline type. The main objective of this project is to study the economic feasibility and practicality of the of the rooftop solar power systems of these type of SPVs.