Solar panels on the rooftop that produce a kilowatt of power are no longer beyond the reach of ordinary citizens. Such a project will cost around Rs 60,000, even less if the central government’s 30% subsidy is factored in. In fact, generating the energy to run two fans and two lights could come at the price of a high-end smartphone.
The investment of around Rs 50,000 on putting up the solar panels would have a payback period of around three years. Till a year ago, generating each kilowatt of solar power cost upward of Rs 90,000.
“Over the past 6-7 years, the prices of solar modules have fallen 85%,” said Jasmeet Khurana, associate director (consulting), Bridge to India, a consultancy specialising in renewable energy. “This slide, coupled with increasing volumes, has led to the price crash.”
SOURCE: Economic Times of India