www.adiurja.com - Business Case for Solar Power Plant

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Capital Expenses
Size of system		kWp
Rate of system		₹/kWp
Total price of system	₹ 1,90,00,000

Operating Expenses
Yearly O&M costs		percent of system price
Inflation in O&M costs		per year

Finance
Subsidy		of system price, which amounts to ₹ 57,00,000
Total investment	₹ 1,33,00,000	which is equal to (total price of system - subsidy)
Equity		of investment, which amounts to ₹ 1,33,00,000
Debt	0%	of investment, which amounts to ₹ 0
Interest rate on debt
Duration of debt		years

Electricity
Generation per year by solar plant		kWh/kWp
Degradation in yield per year due to aging	0.5%	per year
Current rate of grid electricity		₹/kWh
Inflation in rate of grid electricity		per year

Comparison of electricity costs

Comparison of electricity rates


Year	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
Solar Electricity
Estimated plant yield rate (kWh/kWp)	1,730	1,721	1,712	1,703	1,694	1,685	1,676	1,667	1,658	1,649	1,640	1,631	1,622	1,613	1,604	1,595	1,587	1,579	1,571	1,563
Annual solar electricity generation (kWh)	1,73,000	1,72,100	1,71,200	1,70,300	1,69,400	1,68,500	1,67,600	1,66,700	1,65,800	1,64,900	1,64,000	1,63,100	1,62,200	1,61,300	1,60,400	1,59,500	1,58,700	1,57,900	1,57,100	1,56,300
Costs of solar electricity
Equity (₹)	1,33,00,000
Loan payment (₹)
O&M (₹)	19,000	19,380	19,767	20,162	20,565	20,976	21,395	21,822	22,258	22,703	23,157	23,620	24,092	24,573	25,064	25,565	26,076	26,597	27,128	27,670
Annual cost of solar electricity (₹)	1,33,19,000	19,380	19,767	20,162	20,565	20,976	21,395	21,822	22,258	22,703	23,157	23,620	24,092	24,573	25,064	25,565	26,076	26,597	27,128	27,670
Cumulative cost of solar electricity (₹)	1,33,19,000	1,33,38,380	1,33,58,147	1,33,78,309	1,33,98,874	1,34,19,850	1,34,41,245	1,34,63,067	1,34,85,325	1,35,08,028	1,35,31,185	1,35,54,805	1,35,78,897	1,36,03,470	1,36,28,534	1,36,54,099	1,36,80,175	1,37,06,772	1,37,33,900	1,37,61,570
Levelized Cost of Energy (LCOE) of solar (₹/kWh)	76.99	38.65	25.87	19.48	15.65	13.1	11.28	9.91	8.85	8	7.3	6.72	6.23	5.81	5.45	5.13	4.85	4.6	4.38	4.18
Grid Electricity
Rate of grid electricity (₹/kWh)	10	10.5	11.03	11.58	12.16	12.77	13.41	14.08	14.78	15.52	16.3	17.12	17.98	18.88	19.82	20.81	21.85	22.94	24.09	25.29
Annual cost of grid electricity (₹)	17,30,000	18,07,050	18,88,336	19,72,074	20,59,904	21,51,745	22,47,516	23,47,136	24,50,524	25,59,248	26,73,200	27,92,272	29,16,356	30,45,344	31,79,128	33,19,195	34,67,595	36,22,226	37,84,539	39,52,827
Cumulative cost of grid electricity (₹)	17,30,000	35,37,050	54,25,386	73,97,460	94,57,364	1,16,09,109	1,38,56,625	1,62,03,761	1,86,54,285	2,12,13,533	2,38,86,733	2,66,79,005	2,95,95,361	3,26,40,705	3,58,19,833	3,91,39,028	4,26,06,623	4,62,28,849	5,00,13,388	5,39,66,215
Levelized Cost of Energy (LCOE) of grid (₹/kWh)	10	10.25	10.51	10.77	11.05	11.33	11.62	11.93	12.24	12.56	12.89	13.23	13.58	13.95	14.33	14.71	15.12	15.53	15.96	16.4