- The union territory’s administrator VP Singh Badnore has approved the model
- A tender to rope in companies for installing solar panels will be floated soon
In Chandigarh, homes will soon have solar plants installed over roofs. Chandigarh Renewable Energy and Science & Technology Promotion Society (Crest), informed that it will be a floating a tender to hire private companies for the same.
Approved under Renewable Energy Service Company Model (RESCO) model, this solar plants will be used to supply electricity to the grid and to home owners as well. The union territory’s administrator VP Singh Badnore has approved the model.
Win-win for companies and consumers
The owners of the buildings getting these solar plants installed will be given electricity at a cost of Rs 3.44 per unit (produced by solar plants). Electricity rates in Chandigarh vary between Rs 2.75 to Rs 5.20 depending on the usage.
Initially, the tender floated will include setting up solar plants for 15 years. After the duration, these plants will be handed over to the house owners. Unlike, increase in power tariff rates almost every year, the cost per unit for electricity generated via these plants will be fixed at Rs 3.44 for 15 years.
Solar power in India
According to Mercom, cumulative solar installations in the country stood at around 35.6 GW at the end of 2019, representing 9.6 per cent of the total installed power capacity mix. It accounted for about 26.7 per cent of all renewable energy in the country.
In comparison, at the end of 2018, solar power contributed to roughly 27.9 GW of the total installed generation or 7.9 per cent of the overall power capacity.
India imported solar cells and modules worth $1,179.89 million from China in the first nine months of the 2019-20 financial year (FY). In FY17, FY18, and FY19 India’s solar imports from China stood at $2,817.34 million, $3,418.96 million, and $1,694.04 million, respectively.
In FY17, FY18, and FY19 the total value of the India’s solar imports stood at $3,196.5 million, $3,837.6 million, and $2,159.7 million, respectively. China-headquartered companies supply about 80 per cent of solar cells and modules to India.