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Photovoltaic

~ 2013 ~

Lookout
For Project Developers, PV Professionals, Investors & Stand-alone users

BEPMAX

PHOTOVOLTAIC LOOKOUT 2013


Launched on 7th DEC 2012

DISCLAIMER This is a Reference Guide for Investors, project Developers and PV professionals. This Document is a result of editing, compilation and research from related sources done by Bepmax Solar Pvt Ltd. This is a Promotional document intended to provide information and trends in solar industry, so Bepmax Solar Pvt Ltd is not responsible for any assurance and loss (if) to user of this document, sources and analysis formats. We recommend consulting in a situation of Confusion. Free Information if copied will include its original source/Author/Document. This Document is propriety of Bepmax Solar Pvt ltd and the information provided should not be used for re-sale purpose or Selling after Printing purpose. This is a free document and the CD will be provided to potential investors, analysts and Consultants on request to Bepmax Solar via mail.

~ INDEX ~
1 Technology market
1.1 PV Panels Types, Comparison and Top Manufacturers.. 1.2 Inverters Type and Top Manufacturers 1.3 Trackers & Mounting Structures 1.4 Certifications & Standards CD attached which contains the .pdf file of this reference guide with many more files like Govt. Policies, Drafts, and Excel sheets for financial assessment, MNRE documents and Orders, Datasheets of Top Ten Solar Panels and Inverters, and many.

2 Utility Scale Projects


2.1 2.2 2.3 2.4 2.5 2.6 2.7 3.1 3.2 3.3 3.4 Site Selection Factors and meteorology Selecting Technology & EPC Determining Generation and Losses Project Development Stages Operation and Maintenance Project Financial Model A Typical study on 1MW Plant

Where Are you


Investing?

3 Photovoltaics in Small Scale


PV Applications in small scale Grid Connected and Stand-Alone Systems Government Subsidies and Tax benefits Registration Procedure for SI, RESCO and other with MNRE 3.5 Steps to Register the Solar Project 3.6 Benefits of using Solar

Lookout
Your

Opportunities

4 A lookout on REC
4.1 REC Mechanism 4.2 Different Project Models of REC.

1
TECHNOLOGY MARKET

1.1 PV Panels Types, Comparison and Top Manufacturers

PV Panel Types

Hybrid

Crystalline Silicon

Mono-Si Poly-Si a-Si

Poly Crystalline Panels are being used most and are the most reliable panels

Thin Film Family

CIS / CIGS CdTe

Mono-crystalline silicon solar modules are the workhorse of the solar industry. They are extremely durable and have the highest commercial power conversion efficiencies. However, growing the single crystalline structure in the manufacturing process is time consuming and extremely expensive. Poly-crystalline solar modules are made from a block of silicon that contains multiple crystals. These panels are square in shape with a mosaic-like structure. The poly-crystalline modules are much cheaper to produce than mono-crystalline due to their less stringent crystal structures. The trade-off for less expense with polycrystalline cells; however, is their lower efficiencies over mono-crystalline silicon modules. Thin-film PV (CdTe, a-Si, CIGS) Thin-film PV is the fastest growing sector of the solar cell manufacturing industry. Thin-film cells are manufactured by applying very thin layers of semiconductor material to inexpensive materials such as glass, plastic or metal. Thin-film semiconductors absorb light more easily than c-Si, therefore requiring less semiconductor material, making them far less expensive than crystalline silicon modules.

There are three leading manufactured thin-film PV modules presently: CdTe or Cadmium Telluride thin-film currently has the lowest Wp (watt peak) production cost due to a balance between ease of production and higher cell efficiency (currently 6 11%: limited to 31% maximum).

CIGS and CdTe Panels yield More Production and Give good results in Diffuse Radiation

a-Si or Amorphous Silicon thin-film uses a highly a proven but slower layer deposition manufacturing process which results in lower efficiencies (currently 6 8%: limited to 12% in-lab). Microcrystalline technology is used as an upgrading technology to boost the amorphous silicon products to efficiencies of around 10%. CIGS or Copper Indium Gallium Selenide thin-film has been able to reach the highest efficiencies in production: 13 14% max, and averaging around 10%. There are difficulties in controlling the uniformity of the active layer on larger formats, and this does not currently work on steel.

Comparing photovoltaic technologies

Parameter
Handling Power Efficiency

Crystalline
Mono/Poly Better protection against breakage 12-19% Used particularly for Normal radiations Temperature can effect Output High and stable Low Cost Fewer Mounting structures required and Light weight AL structures can be used at best 5-5.5 Acres/ MW High Inverter Flexibility High Cost per Watt Stable output from initial stages onwards Easily Available Made From Non-Toxic Materials(Si) Less Less maintenance required Relatively easy 88%

Thin Film
a-Si, CIGS, CdTe Not Guaranteed 6-9% Better performance with diffuse radiations Lesser effect of temperature High and Variable High Cost More structures required, also high quality structures required 7 Acres/MW Limited Inverter Flexibility Low than Crystalline Stability achieved after 4-6 Weeks Limited Supply Toxic materials used for thin film (Cds, CdTe) High in initial 5-7 years Highest maintenance required Difficult due to complex structure 11%

Hybrid Models are less known, yet they have the highest efficiencies

Irradiance Temperature effect Output Transportation Mounting Structure Land Required Inverter Cost Stabilization Availability Health Hazards Power Degradation Plant maintenance Repair Market Coverage

The Top Ten

Efficiency of PV Panel is stated as production per m2 . it is inversely proportional to land used.

Top Ten By Module Efficiency (Poly-Si). Source: Solar Plaza, Datasheets


# 1. 2. 3. 4. 5.

Company
Solland Solar Siliken LDK Solar Vikram Wiosun A2peak CNPV Latitude Solar JA Solar CSUN

Module Efficiency
16,00% 15,70% 15,67% 15,63% 15,54% 15,50% 15,40% 15,30% 15,29% 15,24%

Module Type
Sunweb SLK72P6L-305 LDK-200P-24(s) Eldora 280 (300) E300P P3-235-60 (250) CNPV-300P Latitude P6-60/6 (250) JAP6-60-250 CSUN295-72P

Cost per Wp, Availability, Support, Technical History and Power Output are some factors to be kept in mind while selecting A PV panel.

6. 7. 8. 9. 10 .

Top Ten Manufacturers By capacity. Source: Solar Plaza #


1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Company
LDK Solar Sharp Solar Suntech First Solar JA Solar Canadian Solar Trina Yingli Green Hanwa Solarone Jinko Solar

Capacity ( GW)
3.0 2.8 2.4 2.3 2.2 2.0 1.9 1.7 1.5 1.5

Country
China Various Various Various China Various China China China China

Type
m-Si, P-Si m-Si, P-Si, Thin Film m-Si, P-Si, Thin Film Thin Film m-Si, P-Si m-Si, P-Si m-Si, P-Si m-Si, P-Si m-Si, P-Si m-Si, P-Si

1.2 Inverters Type and Top Manufacturers


Basic Types. By size and Way of use

Inverter is heart of solar power Plant. Your Inverter output is your Final output of Production

TYPE
Central Inverter

POWER
100 kW 2.25 MW

DESCRIPTION
Commonly u s e d i n m e g a w a t t -scale p h o t o v o l t a i c power plants in India and foreign countries. A single inverter controls a large portion of the plant. A single inverter controls a single or limited string of modules. They offer multiple controls at a more basic level compared to central inverters, hence, reducing module mismatch losses and simplifying plant maintenance. Typically used for domestic rooftop applications. May be in a grid-tied or stand-alone mode.

String Inverter

5 40 kW

Domestic Inverter

1-5 kW

Inverter selection has to be done after selecting PV Panels, as compatibility with each other is necessary. Few inverters are compatible with thin film panels in comparison of crystalline

Micro-Inverter

100 400 W

Used In Test Projects

Central Inverter Examples:-

String & Domestic Inverter Examples:-

Most of the Domestic Inverters also Referred as kW inverters includes Charge Controller and MPPT feature. MPPT is Maximum Power Point Tracking

The Top Ten

Top Ten by Efficiency (100 kW). Source: Solar Plaza and Datasheets
# 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Company
Ingeteam SAJ New Energy Power One ABB Samil Power SMA ELTEK TBEA Sungrow Santerno

Efficiency Model
98.40% 98.10% 98.00% 98.00% 98.00% 97.60% 97.60% 97.20% 97.00% 97.00% Ingecon Sun 100 TL Suntrio-TL100K PVI-110.0-TL PVS800-100kW Solar Ocean 100TL Sunny Central 100TL Theia TL -100kW GC-100k3 SG-100K3 TG 100 NA

Top Ten by Sales.


# 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Company
SMA Power One Kaco New Energy Satcon GE Energy Ingeteam ABB Schnieder Electric REFU Sptunik Eng.

Country
Germany USA Germany USA Global Spain Global Europe Europe Switzerland

As all commercial photovoltaic modules today generate only DC power, photovoltaic inverter become essential to convert this DC into AC power for either direct AC applications or feeding into the grid. Photovoltaic modules are usually connected in series and then in parallel, which are then connected to the photovoltaic inverter. The functionality of photovoltaic inverters includes: (i) maximizing the output power from the modules by maximum power point tracking (MPPT), (ii) converting the DC power into AC power, (iii) in case of grid-tied inverters, synchronizing the output voltage and frequency to match the grid parameters, and (iv) offer safety and protection to and from the photovoltaic system. (v) Data Logging and SCADA Facilities for Plant Operation and Production Overview

SCADA Technology Offered by Inverters

SCADA stands for Supervisory Control and Data Acquisition, a term used by industry as a blanket term for the control systems employed across industrial plants and the electrical grid. SCADA technology has come a long way, from mechanical regulators and analogue control wires to fully-digital controllers over fibre optics. This tremendous progress in industrial control technology has made available low cost and highly reliable control hardware and software for power plant automation and utility control.

Most of the central inverters are bundled with SCADA Software and Data logging Equipment.

Example: Hierarchical Diagram showing the Data Acquisition from Field level To Corporate Office by Brilliance Solar Inverters & SUNIQ, by GE Energy.

Inverter Output, Daily Weather report, Production, Plant Supervision, Voltage and Current Levels, etc. are Some features of SCADA used in Solar Plants

1.3 Trackers and Mounting Structures


Theory of Mounting Structures

Generalised tilt Angles T.M = 17o-19 o A.P = 19 20


o o

TILT Angle

M.H = 21 o 23 o Gujarat = 23 o -25 o M.P = 23 o -25 o R.J = 25 o 27 o Delhi = 30 o


PV modules must be mounted on a structure, to keep them oriented in the correct direction and to provide them with structural support and protection. Mounting structures may be fixed or tracking. Taking Example of INDIA, it is situated in Northern Hemisphere, so the sun will be seen towards south Direction. The Fact Behind this is that sun rises from EAST at the Equator and sets at WEST at equator, so if you are situated in north of equator than u will see sun in southern direction. So the panels should be leaned according to the tilt angle depending on the location in south direction.

PV Panel

E N S

W
Mounting Structure

EARTH

Need of Sun Tracking A solar tracker is a device for orienting a day lighting reflector, solar photovoltaic panel or concentrating solar reflector or lens toward the sun. The sun's position in the sky varies both with the seasons and time of day as the sun moves across the sky. Solar powered equipment works best when pointed at or near the sun, so a solar tracker can increase the effectiveness of such equipment over any fixed position, at the cost of additional system complexity. There are many types of solar trackers, of varying costs, sophistication, and performance. One well-known type of solar tracker is the heliostat, a movable mirror that reflects the moving sun to a fixed location, but many other approaches are used as well.

Single axis Trackers are the best. Though the project cost increases by 20% but the productio n increases by 25% annually

General Types

Mounting Structures

Trackers

Fixed Structures

Seasional Trackers

Single Axis Trackers

Dual Axis Trackers

Galvanised Steel Structures

Aluminium Structures

Fixed Structures: -Fixed mounting systems keep the rows of modules at a Fixed tilt angle while facing a fixed angle of orientation. The tilt angle and orientation is generally optimised for each PV power plant according to location. This helps to maximise the total annual incident irradiation And total annual energy yield. For Indian sites, the optimum tilt angle is generally between 10 and 35, facing true south. Fixed Structures are Cheaper and require less maintenance. Seasonal Trackers This type of tracker have the facility of adjusting the face according to season to season. These trackers are based on hydraulic Technology. By using this tracker there will be 7 to 9% Increase in Production. Single Axis Trackers This Type of trackers provides a facility of Adjustment of Tilt and Angle of Orientation according to the Movement of Sun. So this Provides Annual increases of 25% In Production. Also the Cost of Single Axis Trackers is high and it requires More Land than Normal. Dual Axis Trackers Adjustment of Tilt, Azimuth and Angle of Orientation with back tracking is done by using this trackers, they are very costly and requires much Space. Production increases by 36% annually by using Dual axis trackers

1.4 Certifications & Standards


PV Module Standards TEST Description
Crystalline silicon terrestrial photovoltaic (PV) modules design Qualification and type approval. Thin-film terrestrial photovoltaic (PV) modules design qualification And type approval.

Comment
The standard certification uses a 2,400 Pa pressure. Modules in heavy snow locations may be tested under more stringent 5,400 Pa conditions. very similar to the IEC 61215 certification, but an additional test specifically considers the additional degradation of thin Film modules. Part 2 of the certification defines three different Application Classes: 1). Safety Class 0 restricted access applications. 2). Safety Class II General applications. 3). Safety Class III Low voltage applications. Module safety assessed based on: 1). durability. 2). High dielectric strength. 3). Mechanical stability. 4). Insulation thickness and distances. Required for modules being installed near the coast or for Maritime applications.

IEC 61215

These standards are accepted in India and one should buy products with the same standards

IEC 61646

En/IEC 61730

PV module safety qualification. Module safety qualification.

IEC 60364-4-41

Protection against electric shock.

IEC 61701

Resistance to salt mist and corrosion

Conformit Europenne (EC)

UL 1703

The certified product conforms to the EU health, safety and environmental Requirements. Comply with the national Electric Code (nEC), oSHA and the national Fire Prevention Association. The modules perform to at least 90% of the manufacturers nominal power.

Mandatory in the European Economic Area.

Underwriters Laboratories Inc. (UL) is an independent U.S.based product safety testing certification company which Is a nationally recognised Testing Laboratory (nrTL). Certification by a nrTL is mandatory in the U.S.

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Inverter Standards TEST Description


Electromagnetic compatibility (EMC). Generic standards. Immunity for residential, Commercial and lightindustrial environments. Electromagnetic compatibility (EMC). Generic standard Immunity for industrial Environments. Electromagnetic compatibility (EMC). Generic standards. Emission standard for residential, commercial and light-industrial Environments. Electromagnetic compatibility (EMC). Generic standards. Emission standard for industrial environments. Information technology Equipment. Radio disturbance characteristics. Limits and Methods of measurement. Electronic equipment for use in power installations. Photovoltaic systems Power conditioners Procedure for measuring efficiency.

It is Mandatory in India to Procure Panels and Inverters according to Government recognized certifications and standards otherwise your application for setting utility scale plant will be rejected and you will not get subsidy in case of Captive standalone user

En 61000-6-1: 2007

En 61000-6-2: 2005

En 61000-6-3: 2007

En 61000-6-4: 2007

En 55022: 2006

En 50178: 1997

EC 61683: 1999

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2
Utility Scale Projects

2.1 Site selection Factors and Meteorology


Key Parameters for Selection of Land

#
1

Parameter
Solar irradiation Land Terrain and Nearby Shadows Clear Optimization and Horizon Storm and Earthquake history Soil Test

Comment
This is most important factor; first you should have irradiation data of land. Flat, Rocky, Slope etc. Any obstacle blocking sun and terrain needs to be studied Check weather south direction has any obstacle. And study the horizon Check the record of natural calamities on location of land Do soil test on Land, Depending on which the Mounting Structures can be decided Per MW Requirement Mono-Si 5 Acres Poly-Si 6 Acres Thin Film 7.5 Acres Single Axis Trackers Add. 1.5 Acres of Land Dual Axis Trackers Add. 2.3 Acres of Land Check whether Development is allowed on Land. Check whether land is not located in forest, civil aviation or reserved area. If located get Permissions from concerned Agency Check whether Plenty of Water and Electricity is available, If not get permissions for the same or use the alternative way This is to be the most priority parameter to be kept in mind. The land should be nearby 66KVA or More Substation, otherwise transmission can be a bottleneck for your Project It would be good if there is would be a facility of broad road accessing location and the estimate the distance of Location from nearest metro city. Always this factor would be the first parameter to keep in mind. The land cost should not be more than 15 Lacks per Acre to get a good Investment returns.

Solar Irradiation, Distance from Substation and Cost of land are the first three factors to be considered before selecting a land

3 4 5

Adequate Land

Legal Factors and Surroundings

Water and Electricity Availability

Distance From Substation

10

Transportation

11

Cost

12

Site Meteorology and Measurements


Solar radiation basics and definition Solar radiation is a primary driver for many physical, chemical and biological processes on the earths surface, and complete and accurate solar radiation data at a specific region are of considerable significance for such research and application fields as architecture, industry, agriculture, environment, hydrology, agrology, meteorology, limnology, oceanography and ecology. Besides, solar radiation data are a fundamental input for solar energy applications such as photovoltaic systems for electricity generation, solar collectors for heating, solar air conditioning climate control in buildings and passive solar devices Several empirical formulae have been developed to calculate the solar radiation using various parameters. Some works used the sunshine duration others used the sunshine duration, relative humidity and temperature, while others used the number of rainy days, sunshine hours and a factor that depends on latitude and altitude.

Diffuse Radiation in simple word is the Radiation which hits the earth after passing through cloud. Thin film panels give good performance in such kind of conditions

The primary requirement for the design of any solar power project is accurate solar radiation data. It is essential to know the method used for measuring data for accurate design. Data may be instantaneously measured (irradiance) or integrated over a period of time (irradiation) usually one hour or day. Data maybe for beam, diffuse or total radiation, and for a horizontal or inclined surface. It is also important to know the types of measuring instruments used for these measurements. For the purpose of this report, data sources such as NREL, NASA, IMD and so on were compared. All these sources specify global irradiance, measured over one hour periods and averaged over the entire month. The data is available for horizontal surfaces and must be suitably converted for inclined solar collectors. Monthly average daily solar radiation on a horizontal surface is represented as H, and hourly total radiation on a horizontal surface is represented by I. The solar spectrum, or the range of wavelengths received from the Sun are depicted in the figure below. Short wave radiation is received from the Sun, in the range of 0.3 to 3 m, and long wave radiation (greater than 3 m) is emitted by the atmosphere, collectors or any other body at ordinary temperatures.

Definitions and terminology Beam Radiation solar radiation received from the Sun without being scattered by the atmosphere and propagating along the line joining the receiving surface and the sun. It is also referred as direct radiation. It is measured by a pyrehiliometer. Diffuse Radiation the solar radiation received from the Sun after its direction has been changed due to scattering by the atmosphere. It does not have a unique direction and also does not follow the fundamental principles of optics. It is measured by shading Pyrenometer. Total Solar Radiation the sum of beam and diffused radiation on a surface. The most common measurements of solar radiation is total radiation on a horizontal surface often referred to as global radiation on the surface. It is measured by Pyrenometer. Irradiance (W/m2) the rate at which incident energy is incident on a surface of unit area. The symbol G is used to denote irradiation. Irradiation (J/m2) the incident energy per unit area on a surface, found by integration of irradiation over a specified time, usually an hour (I) or a day (H).

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Solar Constant - The solar constant is the amount of incoming solar radiation per unit area, measured at the outer surface of Earths atmosphere, in a plane perpendicular to the rays Direct Normal Insolation (DNI) - It is the direct component of the solar radiation incident normal to the collector; that is, the angle of incidence of solar radiation with the normal of the collector is zero throughout the day.

Below Factors are need to be assessed while conducting site meteorology

Solar Irradiation Horizontal and diffuse irradiation

Site meteorology
Your Generation mainly depends on the Meteorology Factors mentioned to right

Wind Speed Air temperature Sunrise and Sunset

Measurements may be direct or indirect. Direct methods are those involving the use of devices such as Pyroheliometers and pyranometers at radiation stations. Indirect methods use satellite data, the number of sunshine hours, or extrapolation to arrive at values for radiation at a place. The solar radiation data should be measured continuously and accurately over the long term. Unfortunately, in most areas of the world, solar radiation measurements are not easily available due to financial, technical or institutional limitations. Solar radiation is measured using Pyroheliometers and pyranometers. ngstrm and Thermoelectric Pyroheliometers are used for measurement for direct solar radiation and global solar radiation is measured using the Thermoelectric Pyranometer. A Thermoelectric Pyranometer with a shading ring is used for measurement of diffuse radiation. Inverted pyranometers and Sunphotometers are used for measuring reflected solar irradiance and solar spectral irradiance and turbidity respectively.

In India, large scale measurements are carried out by the India Meteorological Department at 45 radiation observatories with data loggers at four of these stations. The stations are depicted on the map below (Fig ), obtained from the IMD Pune website. Another method of acquiring data is through mathematical modelling and extrapolation of data using variables such as sunshine hours, cloud cover and humidity. This modelled data generally is not very accurate for

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several reasons. Models require complex calibration procedures, detailed knowledge of atmospheric conditions and adjustments to produce reasonable results. Further inaccuracies arise in micro-climates and areas near mountains, large bodies of water, or snow cover. The third source of radiation data is satellite measured data such as that provided by NASA. NASA data is available for any location on Earth, and can be obtained by specifying the coordinates of the location. The data is available in near real time for daily averages and for 3 hour intervals. Also, this data can be accessed free of cost online

Sources

Sources of radiation data Radiation data is available from various sources, such as IMD, NREL, Meteonorm, NASA, WRDC (World Radiation Data Centre) and so on. Some of these agencies provide data free of cost and with others, the data needs to be purchased. The following are the key features of the some data sources considered Meteonorm Provides data of more than 8,055 weather stations. The measured parameters are monthly means of global radiation, temperature, humidity, precipitation, days with precipitation, wind speed and direction, sunshine duration. Time periods

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1961-90 and 1996-2005 for temperature, humidity, precipitation and wind speed are available. Satellite data is used for areas with low density of weather stations. Interpolation models are provided in the software to calculate mean values for any site in the world. The user may import data for use in the models. This data is not freely available, and must be purchased along with the Meteonorm software. RETScreen RETScreen is Canadian software which holds a complete database for any location in the world, optimised for using the best available data at each location from about 20 sources, the main ones being the WRDC and the NASA irradiance data. Temperatures and wind velocities are also provided probably with good reliability. NASA and WRDC data are available free of cost, and hence RETScreen data is also free. IMD IMD has 45 radiation observatories recording various radiation parameters. At all these stations, measurement of global solar radiation is being carried out while at a few selected stations other parameters like diffuse, direct, net, netterrestrial and reflected radiation and atmospheric turbidity are also measured. Data loggers have been introduced at four stations viz. New Delhi, Patna, Jaipur and Thiruvananthapuram. Besides the measurements on the surface, fortnightly airborne soundings are made with radio metersondes to measure directly the vertical distribution of the infrared radiation flux and radiation cooling from surface up to a height of 20 Km or more in the free atmosphere, at New Delhi, Srinagar, Thiruvananthapuram, Pune, Nagpur, Jodhpur, Calcutta and Bhuvaneshwar. Radiometersonde ascents are being conducted regularly at Maitri, the Indian Antarctic station also. NASA NASA provides over 200 satellite-derived meteorology and solar energy parameters. These are monthly averages from 22 years of data. Global solar energy data is available for 1195 ground sites. These data are available free of cost. 3TIER 3TIER provides custom reports enabling assessment for commercial and utilityscale solar projects. This organization provides Full View Solar Site Climate Variability Analysis (CVA) which describes a complete picture of the solar resources at required site. Based on a satellite derived 11 to 13-year time-series, this product includes the intensity and variability of irradiance values and additional data on wind Speed and temperature

Data from RETScreen and NASA are available for free, but they have data till 1997 and 2005 respectively

3TIER Provide the Present date Data and meteorology and are best and accurate. They had a charge for this service. But for large scale projects 3TIER meteorology consultation in must

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Solar Irradiation map of India. Source SolarGIS 2012 GeoModel Solar s.r.o

Variability in Solar Irradiation

In terms of irradiation, the solar resource is inherently intermittent. In any given year, the total annual global irradiation on a horizontal plane varies from the long term average due to climatic fluctuations. This means that though The plant owner may not know the energy yield to expect in any given year, he can have a good idea of the expected yield averaged over the long term. To help lenders understand the risks and perform a sensitivity analysis, it is important to quantify the limits of the inter-annual variation. This can be achieved by assessing the long-term irradiation data (in the vicinity of the site) Sourced from nearby MET stations or satellites. At least 10 years of data are usually required to give a reasonably confident assessment of the variation.

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2.1 Selecting technology and EPC Contractor


Module Selection
Source and Reference: utility scale solar power plant by International Finance Corporation

This makes choosing a module a more difficult process than it may first appear. Many developers employ the services of an independent consultant for this reason. When choosing modules, the following key aspects should be considered: The aim is to keep the levelled cost of electricity (LCoE) at a minimum. When choosing between high efficiency-high cost modules and low efficiency low Cost modules, the cost and availability of land and plant components will have an impact. High efficiency modules require significantly less land, Cabling and support structures per MWp installed than low efficiency modules. When choosing between module technologies such as mono-crystalline silicon, multi crystalline silicon and thin film amorphous silicon, it should be realised that each technology has examples of high quality and low quality products from different manufacturers. Different technologies have a differing spectral response and so will be better suited for use in certain locations, depending on the local light conditions. Amorphous silicon modules generally perform better under shaded conditions than crystalline silicon modules. Many of them show a better response in low light levels. When ordering a large number of modules, it is recommended to have a sample of modules independently tested to establish the tolerance. The value of the temperature coefficient of power will be an important consideration for modules installed in hot climates. The degradation properties and long term stability of modules should be understood. Product guarantee Manufacturers provide a product guarantee ensuring that modules will be fully functional for a minimum of 3 years. Some companies guarantee a longer period, with 5-6 years being the usual duration. Some manufacturers Provide 10 Year Warranty on Workmanship. Power guarantee In addition to the product guarantee, most manufacturers grant nominal power guarantees. These vary between manufacturers but atypical power guarantee stipulates that the modules will deliver 90% of the original nominal power after 10 years and 80% after 25 years. So far no module manufacturer has offered a power output guarantee beyond 25 years. The conditions listed in both the power guarantee and product guarantee are Important, and vary between manufacturers.

Chinese Modules from good Manufacturer are the best Choice for Economic project. They do provide good Production and also are technically sound

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Inverter Selection
Source and Reference: utility scale solar power plant by International Finance Corporation

Criteria
Project size

Description
Size influences the inverter connection concept. Central inverters are commonly used in large solar PV plants. High efficiency inverters should be sought. The additional yield usually more than compensates for the higher Initial cost. The way the efficiency has been defined should be carefully considered. A wide MPP range allows flexibility and facilitates design. national electrical regulations might set limits on the maximum power difference between the phases in the case of An asymmetrical load. The compatibility of thin-film modules with transformer-less inverters should be confirmed with manufacturers. A transformer inverter must be used if galvanic isolation is required between the DC and AC sides of the inverter. The grid code affects inverter sizing and technology. The national grid code might require the inverters to be capable of reactive power control. In that case, oversizing inverters slightly could be required. The grid code also sets requirements on THD, which is the level of harmonic content allowed in the inverters AC power output. High inverter reliability ensures low downtime and maintenance and repair costs. If available, inverter mean Time between failures (MTBF) figures and track record should be assessed. If modules of different specifications are to be used, then string or multi-string inverters are recommended, in order to Minimise mismatch losses. Ease of access to qualified service and maintenance personnel, and availability of parts is an important dimension to consider during inverter selection. This may favour string inverters in Certain locations. If a fault arises with a string inverter, only a small proportion of the plant output is lost. Spare inverters could be kept locally and replaced by a suitably trained electrician. With central inverters, a large proportion of the plant output would be lost (for example, 100 kW) until a replacement is obtained. Ease of expanding the system capacity and flexibility of design should be considered when selecting inverters. For sites with different shading conditions or orientations, String inverters might be more

Performance

In a Solar project Inverter needs to be replaced at 12th or 13th year. The replacement cost is 4% of the total project cost

MPP range 3-phase or single phase output

Module technology National and international regulations

Grid code

Product reliability

Module supply

Maintainability and serviceability

System Availability

Modularity Shading conditions

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Installation location

Monitoring/recording/telemetry

suitable. Outdoor/indoor placement and site ambient conditions influence IP class and cooling requirements. Plant monitoring, data logging, and remote control requirements define a set of criteria that must be taken into Account when choosing an inverter.

Mounting Structure Selection


Source and Reference: utility scale solar power plant by International Finance Corporation

Mounting structures will typically be fabricated from steel or aluminium. A good quality mounting structure may be expected to: Have undergone extensive testing to ensure the designs meet or exceed the load conditions experienced at the site. Allow the desired tilt angle to be achieved within a few degrees. Allow field adjustments that may reduce installation time and compensate for inaccuracies in placement of foundations. Minimise tools and expertise required for installation. Adhere to the conditions described in the module manufacturers installation manual. Allow for thermal expansion, using expansion joints where necessary in long sections, so that modules do not become unduly stressed. Purchasing good quality structures from reputable manufacturers is generally a low-cost, low-risk option. Some manufacturers provide soil testing and qualification in order to certify designs for a specific project location. Alternatively, custom-designed structures may be used to solve specific engineering challenges or to reduce costs. If this route is chosen, it is important to consider the additional liabilities and cost for validating structural integrity. This apart, systems should be designed to ease installation. In general, installation efficiencies can be achieved by using commercially available products. The topographic conditions of the site and information gathered during the geotechnical survey will influence the choice of foundation type. This, in turn, will affect the choice of support system design as some are more suited to a particular foundation type. Foundation options for ground-mounted PV systems include: Concrete piers cast in-situation These are most suited to small systems and have good tolerance to uneven and sloping terrain. They do not have large economies of scale. Pre-cast concrete ballasts This is a common choice for manufacturers having large economies of scale. It is suitable even at places where the ground is difficult to penetrate due to rocky outcrops or subsurface obstacles. This option has low tolerance to uneven or sloping terrain but requires no specialist skills for installation. Consideration must be given to the risk of soil movement or erosion. Driven piles If a geotechnical survey proves suitable, a beam or pipe driven into the ground can result in low-cost, large scale installations that can be quickly implemented. Specialist skills and pile driving machinery are required; these may not always be available.

20

Earth screws Helical earth screws typically made of steel have good economics for large scale installations and are tolerant to uneven or sloping terrain. These require specialist skills and machinery to install.

Selecting the Consultant


There are many to execute a project with assigning consultant/ Contractor. But first we categorise the consultants. Category 1 (All in one) This type of consultant has got its own Technical Team or has tie-up with Experience EPC player. They can arrange debt financing on behalf of Developer OR takes responsibility of Debt and Equity financing both. Prepares the project Feasibility report on behalf of client and also takes responsibility of project accreditation. Does Government Liaising work and takes responsibilities of required permission and transmission Will be responsible for supply, deign, erection and commission of plant from concept to production. This includes all works Will be responsible for overall maintenance, manpower allocation and other process Category 2 (The EPC) They will be responsible for supply, deign, erection and commission of plant only technical side. This includes all technical and civil works They can maintain the plant very well according to contract years.

21

Category 3 (Erection Contractor) These types of Players are only responsible for erection and commission works. Category 4 (The Non-technical) They would be only responsible for Non- technical works like Land purchasing and legalities, Government Liaising and permissions and paper work for Client. Some of these also provide Debt Finance Consultancy also.

Strategies
Taking the above four category of consultant there are different strategies for a developer to go with. Below are few of them. Strategy 1 Only arrange the Equity/ Margin required and leave all up to category 1 consultant. Strategy 2 Developer does the permission work and arranges the finance. The whole technical side will be responsibility of Category 2 type consultant. Strategy 3 Arrange the Finance and hire Category 2 and Category 4 type of Consultants to commission the Project. Strategy 4 Arrange Finance, Do Government legalities and take permission. Negotiate with Manufacturers and procure the Equipments and Hire Category 3 Type of Consultant for Erection, commission and maintenance. Strategy 5 Hire Category 3 and Category 4 type of Consultants and Procure the Equipments on own. Also arrange the finance on own. Strategy 6 Hire a Category 4 consultant for permission work, Purchase land from Land Consultants, negotiate with Manufacturers and do the needful Procurement, Hire a design Renewable consultant, an electrical consultant, a civil consultant and Commission the project.

22

FLOW Chart for Selection and Execution Select Your Strategy and Prepare an EOI document for invitation of consultants to provide their offers

Short list, Negotiate and select your Consultant

Financial Closure and Government Permissions. Plant design, Procurement, erection and Commissioning

2.3 Determining Generation and losses


Losses in a PV Plant
Source and Reference: utility scale solar power plant by International Finance Corporation

LOSS
Air pollution

Description
The solar resource can be reduced significantly in some locations due to air pollution from industry and agriculture. Due to mountains or buildings on the far horizon, mutual shading between rows of Shading modules and near shading due to trees, buildings or overhead cabling. The incidence angle loss accounts for radiation reflected from the front glass when the light striking it is not perpendicular. For tilted Pv modules, these losses may be expected to be larger than the losses experienced with dual axis tracking systems, for example. The conversion efficiency of a Pv module generally reduces at low light intensities. This causes a loss in the output of a module compared with the standard conditions at which the modules are tested (1,000W/m2). This 'low irradiance loss' depends on the characteristics of the

Incident angle

Low irradiance

23

module and the intensity of the incident radiation. The characteristics of a Pv module are determined at standard temperature conditions of 25C. For every degree rise in Celsius temperature above this standard, crystalline silicon modules reduce in Module temperature efficiency, generally by around 0.5%. In high ambient temperatures under strong irradiance, module temperatures can rise appreciably. Wind can provide some cooling effect which can also be modelled. Losses due to soiling (dust and bird droppings) depend on the environmental conditions, rainfall frequency and on the cleaning strategy as defined in the O&M contract. This loss can be relatively large compared to other loss factors but is usually less than 4%, unless there is unusually high Soiling soiling or problems from snow settling on the modules for long periods of Time. The soiling loss may be expected to be lower for modules at a high tilt angle as inclined modules will benefit more from the natural cleaning effect of rainwater. Most Pv modules do not match exactly the manufacturers nominal specifications. Modules are sold with a nominal peak power and a guarantee of actual power within a given tolerance Module quality range. The module quality loss quantifies the impact on the energy yield due to divergences in actual module characteristics from the specifications. Losses due to mismatch are related to the fact that the modules in a string do not all present exactly the same Module mismatch current/voltage profiles; there is a statistical variation between them which gives rise to a power loss. Electrical resistance in the cable between the modules and the input terminals of the inverter give rise to ohmic losses DC cable resistance (I2r). This loss increases with temperature. If the cable is correctly sized, this loss should be less than 3% annually. Inverter performance Inverters convert from DC into AC with an efficiency that varies with inverter load. This includes transformer

24

AC losses

performance and ohmic losses in the cable leading to the substation. Downtime is a period when the plant does not generate due to failure. The downtime periods will depend on the quality of the plant components, design, environmental conditions, diagnostic response time and the repair response time. The ability of a Pv power plant to export power is dependent on the availability of the distribution or transmission network. Typically, the owner of the Pv power plant will not own the distribution network. He, therefore, relies on the distribution

Downtime

Grid availability and disruption

network operator to maintain service at high levels of availability. Unless detailed information is available, this loss is typically based on an assumption that the local grid will not be operational for a given number of hours/days in any one year, and that it will occur during periods of average production. The performance of a Pv module decreases with time. If no independent testing has been conducted on the modules being used, then a generic degradation rate depending on the module technology may be assumed. Alternatively, a maximum degradation rate that conforms to the module performance warranty may be considered. The inverters are constantly seeking the maximum power point (MPP) of the array by shifting inverter voltage to the MPP voltage. Different inverters do this with varying efficiency.

Degradation

MPP tracking

Curtailment of tracking

Yield loss due to high winds enforcing the stow mode of tracking systems. Power may be required for electrical equipment within the plant. This may include security systems, tracking

Auxiliary power

motors, monitoring equipment and lighting. It is usually recommended to meter this auxiliary power requirement separately.

25

This parameter has been included to draw attention to the risk of a Pv power plant Grid Compliance Loss losing energy through complying with grid code requirements. These requirements vary on a country to country basis.

How to determine Generation


Solar Simulation Software like PVsyst and RETscreen are available Through which the losses can be determined and changes depending on studies, you have to just input the Site Co-ordinates, Irradiation data, Air- Temperature, Select your Panels and inverters, Create a shading Diagram and thats it. You will get the result in minutes. The output of PVsyst is more accurate, all you need to take care is that your inputs should be accurate. Please refer section 2.7 for example.

PVsyst 5.05 or Higher is the best software used in solar industry for simulation and has immense options and user-friendly

26

2.4 Project development Stages


Contract for Sale OR PPA
If you are planning for a utility Scale Projects in India than these are your Options.

Utility Scale Projects

REC Based Project

PPA With State Government According to their Policy Registration with SLDC for transmission and Metering

PPA in Scheme of JNNSM

PPA with State Agency at APPC rates and Accrediation

Some State Governments have a scheme of reverse bidding for tariff and PPA.

REC Registration

Registration With NLDC for Net Metering

Requirements for Power sale or PPA


# 1 2 3 4 5 6

Requirement
Land Project Pre-Feasibility Report Technical Tie-up (If Any) Margin Money EMD and other securities Project Debt and financial Closure

Stage
Prior to PPA Prior to PPA Prior to PPA Prior to PPA Prior to PPA After PPA

27

What Does Pre-feasibility Contains?


Refer the Chart for Contents of Pre-Feasibility. This process is the first process to be done for checking viability of project and the Report for the same has to be submitted first for Getting PPA.

DEBT Options, Financial model and Plan

Land Location, Total area and Related Documents of Ownership

Site Meteorology in Detail

Club the study on all the factors shown in figure Altogether in a report which is called a Prefeasibility Report.

Related land Clearance Documents and its Distance from Substation

Pre-Feasibility

Report On proposed Technology and Technical Information of Equiptments

Capability in terms of Finance and Size of Plant

Rough Plan of Development and estimated time of Completion

Annual Generation Estimation Report

28

Other Required Permissions


Source and Reference: utility scale solar power plant by International Finance Corporation

District Advisory Committee

A clearance may be required from the district collector confirming that the project would not have an adverse impact on its surroundings. The project will normally require prior approval from the relevant planning department at town and district levels.

Planning Department

All permissions are not mandatory, only required permissions out of which is mention needs to be taken

Archaeological Department

Consultation and approval from the relevant archaeological department will confirm that the land acquired for the project is not of historical significance.

Fire Safety Authority

Consultation and approval from the relevant authority may be required with respect to relevant fire safety requirements during construction and operation of the project.

Forest Authority

Consultation and approval from the relevant forest authority may be required if trees are to be felled to prevent any shading of PV plant. It may also be prudent to confirm that the land to be developed has not been reserved for future forestry operations.

Pollution Control Board

Consent from the local pollution control board may be required with respect to wastewater management and noise emission control, particularly during the construction phase of the project.

Irrigation Department

In addition to confirming that land is not subject to any relevant reservation, consultation with the irrigation department May ensure water availability during construction and operation.

Industrial Development Corporation

Early consultation with such authorities at state level may yield indirect benefits to the project, depending on various initiatives taken up by local governments for industrial development.

Local Governing Bodies

In some areas, a project may fall under the jurisdiction of governing bodies for small villages. Consultation with these local bodies

29

is key to getting consent for the project from the local population. Their approval can facilitate work in the construction and operation phases

Construction power requirements

This specific licence is normally obtained from the state distribution utility for obtaining power required during construction of the plant. Otherwise, stand- alone diesel generators can be utilised with prior permission from the pollution control board.

SLDC/NLDC

In addition to the power purchase agreement, a grid connection permit from the transmission utility is required for exporting power. This normally specifies and confirms the point and voltage level of connection.

Electrical Inspectorate

Electrical inspectorate approvals ensure safety on all electrical installations. The approvals are likely to be mandatory requirements of the public works department of the state in which the plant is built. These are required through the life cyclefrom pre-construction to postcommissioningof the project.

From Concept to Construction (Major Works)

ACTIVITY

DETAILS
Project writing Selection Of land Getting PPA with State Agency Other required Permissions Selecting EPC Project Finance Bank Guarantee Designing the Project

EXECUTIVE PROJECT

SYSTEM DESIGN AND APPROVALS

Site Details Energy Estimation Electrical Schematics Mechanical Schematics Inverter Details & Confirmation Module Manufacturer Details & Confirmation Mounting Structures Details and Confirmation

30

Confirmation of Other BoS Site Survey & Contour Mapping Soil Test Water Analysis Boundary Fencing Electric Resistance Test Arrangement of Electricity for Construction from State Board or Using Diesel Generator Arrangement of Adequate Water for Construction

SITE PREPARATION

DESIGN LAYOUT

Structure Foundation Design Structure Layout Design Inverter Layout Design Lightning & Earthing Mat Layout 360/11Kv Transformer Layout Design Cable Trenches & JB Layout Plumbing Layout Monitoring System Wiring Layout Civil Works Vendor Finalization Site JCB Levelling Foundation marking with levels Bore wells & Pumps Site office and Warehouse Control Room Construction Plumbing Works Statutory Permissions for Civil Works Area Grading, Internal Roads Inverter selection and Finalization Transformer Finalization Transformers Housings, Invertors housings, and auxiliary services allocation (including inverters) Middle Voltage Electrical installation IN housings Low Voltage Electrical installation IN housings. Including General Protections. Inverter and Transformer Installation

CIVIL WORKS

INVERTERS HOUSES, SECURITY, AUXILIARY SERVICES

31

ELECTRICAL INSTALLATION

Modules Cabling Cable connection to the DC connection boxes (including fuse protection) Cable connection from DC protection boxes TO the inverters. Installation of the DC protection boxes AC cabling FROM inverters TO transformers Middle Voltage cabling Lightning, Earthing & Other Utilities Installation Switchyard Design & Approval Vendor Offers and finalization Sub-station Civil Works Utility Approval Switchyard Installation

SWITCHYARD

COMMUNICATIONS

Communication systems installation Communication systems programming Installation tests Grid Connection

CONNECTION & TESTING

Some of the Required Designs & Drawings


# Name Of Drawing

Drawing Of Civil work and Array Yard Map showing the results of Pre-Construction survey of the project site showing location of control room, Array yard, Power evacuation arrangement, Switch gear room, transformer bay etc. General layout drawing of solar PV power plant locating control room building, Module yard, Internal roadways, Drainage system, Fencing, gate, Water distribution line mentioning all lines and levels General equipment layout drawing for control room, Transformer bay, switch gear room etc. General layout of solar PV module yard locating Earth Pits & Earth continuity, cable trenches, yard lighting, lightning conductors with its corresponding earth pits and cable trays. Foundation details of lightning conductors, Yard lighting posts. Topographical survey for proposed area & Civil drawing for Array yard

4 5 6

32

7 8 9 10 11 12 13 14 15

Array yard layout Module structure foundation drawing Approach roadway and pathway Water arrangement for module cleaning Water sewage and drainage system Fencing to Yard Watch towers Scope of civil work for core area land development Model mounting structure and design data

Drawing of electrical work for Array yard 16 17 18 19 20 Drawing for cable trenching and wiring Drawing for Junction box Drawing for array yard lightning Array Yard lightning protection Drawing for earthing system for array yard Power Control Unit 21 22 23 24 25 26 27 28 29 30 31 32 Drawing for main control unit Drawing for unit control room Drawing for security cabin and Gate Drawing for DC bus panel Drawing for AC bus panel Drawing for circuit Breaker Drawing for DC battery & Charger Drawing for protection system Drawing for auxiliary power supply Drawing for string monitoring & system Drawing for web box & Remote monitoring system Drawing for lighting fixtures

Power control unit for Main control room 33 34 Drawing for control panel monitoring desk Structural details of construction works includes foundation, tie beam, column, lintel, chajja, roof beam with roof, and water storage tank with supporting structure details, parapet, plinth protection Details of power conditioning unit/Inverter (bill of material, schematic diagram, wiring diagram, Internal layouts etc.) Drawing for Cable and wires layout Drawing for control electrical wiring Drawing for auxiliary power supply

35 36 37 38

33

39 40 41

Drawing for DC battery and Battery Charger Drawing for control room lighting fixture Line diagram, block diagram& circuit diagram for surveillance camera desk Drawing for land development plan for 1MW unit control room & Main control room Earthing system for switchyard Drawing for Lightning arrestors Drawing for transformer Circuit breakers for Main control room Drawing for isolators of switchyard & Main switchyard Switchyard lightning for 1MW unit Switchyard single line diagram for 1MW unit control room Switchyard single line diagram of main control room

Switchyard for unit control room & Main control room 42 43 44 45 46 47 48 49 50

Utility & communication drawings 51 52 Material drawing of whole project Drawing for surveillance includes cabling and placement of related equipments

Project Timeline. Reference of 1MW Plant


Work
10 EXECUTIVE PROJECT SYSTEM DESIGN AND APPROVALS SITE PREPARATION DESIGN LAYOUT CIVIL WORKS INVERTERS HOUSES, SECURITY, AUXILIARY SERVICES ELECTRICAL INSTALLATION SWITCHYARD COMMUNICATIONS CONNECTION & TESTING 20 30 40 Day No 50 60 70 80 90 100

34

Commissioning the Project


Follow Below steps for a successful commissioning of Project.

IEC 62445 Criteria


The power plant is structurally and electrically safe. The power plant is sufficiently robust (structurally and electrically) to operate for the specified lifetime of a project. The power plant operates as designed and its performance is as expected.

IEC 62445 Criteria


Open Circuit Voltage Test Short Circuit Voltage Test

Areas of Commissioning
Check Module Strings and its Performance Checking of Inverter Cabling, its AC/DC Voltage levels and Mountings Transformer Voltage Check and Cabling Check Switchgear Check Test Check the Lightening Protection system Test Check Earthing Protection System Interface Test results with Monitoring Systems results

Post Connection Test

For better practices a report on test results and procedure must be made. This will be your commissioning report

DC Current Test Performance Ratio Test

35

2.5 Operation and Maintenance


Operation and Maintenance be categorized in two sections 1) Planned O&M Planned in advance and aimed at preventing faults from Occurring, as well as keeping the plant operating at its optimum level. 2) Unplanned O&M Carried out in Response to Failures.

Planned O&M O&M service


Solar PV Panels

Activities
Cleaning of Modules Module Junction Box check Check of Connectors, Module Defect and Cracks and other Checking of Earthing Lugs Checking in deformation and Imbalance in level of structures Cleaning air filters Checking Cables and Loose connections Performance Monitoring Voltage level Checks Cabling Checks Weather and Radiation Monitoring Every Day Generation Monitoring Performance Monitoring Continuous Surveillance Monthly maintenance Plan Every Day MIS Daily Reporting to Higher Authorities Expert Visit on Breakdown All risk Insurance for Plant Insurance for Workmen All Housekeeping Activities Procurement of Required Stationary, Provision, consumables and Spares for Replacement Health and Safety measures Building maintenance Security personnel management Management and maintenance of resources and Materials

Structures Inverters Transformer

Monitoring

Management

Insurance

General & HR

Material management

36

Unplanned O&M
Source and Reference: utility scale solar power plant by International Finance Corporation

Unscheduled maintenance is carried out in response to failures. As such, the key parameter when considering unscheduled maintenance is diagnosis, speed of response and repair time. Although the shortest possible response is preferable for increasing energy yield, this should be balanced against the likely increased contractual costs of shorter response times. The majority of unscheduled maintenance issues are elated to the inverters. This can be attributed to their complex internal electronics, which are under constant operation. Depending on the nature of the fault, it may be Possible to rectify the failure remotely this option is clearly preferable if possible. Other common unscheduled maintenance requirements include: Tightening cable connections that have loosened. Replacing blown fuses. Repairing lightning damage. Repairing equipment damaged by intruders or during module cleaning. Rectifying SCADA faults. Repairing mounting structure faults. Rectifying tracking system faults.

Always have a support agreement with Inverter manufacturer, as most of the break downs and issues are due to malfunctioning of inverter

37

2.6Project Financial Model


Capital Cost
Capital Cost of Project involves the Total expense done in setting up the project from concept to production. This typically involves following LAND Cost Cost of all supply Design and labour Cost Erection Cost Process, Legal and Permissions Cost Other Contingencies Out of these LAND cost should not be involved in calculations of return as it is an appreciation asset.

LTV Ratio - The loan-to-value (LTV) ratio is a financial term used


by commercial lenders to express the ratio of a loan underwritten to a value of an asset purchased. If cost of an item is Rs 100 for which Loan/Debt is given 80 Rs than the LTV ratio is 80/100 or 80%

Margin Money / Equity - The Amount of Money an Investor/Developer


invests as a margin required other than debt or to acquire debt. For an example if Project cost is 10 Cr and to acquire loan/debt of 8 Cr you should have or Invested 2 Cr which is Equity of Developer or Margin Money Invested.

Annual Interest - For Solar Debts are available at an Annual interest rate of 89%. This means if you have taken 100 Rs Loan than your annual interest will be Rs 8-9.

Loan/debt tenure The Period for which you have taken debt/loan for your
project is called loan tenure. Ex 7 years or 10 Years. During these period you will Pay every year interest + Principle according to decided amortization schedule. If a Project has taken debt, than every year payment of Principe + Interest is considered in expense

Depreciation The decrease in value of assets is called depreciation. In Gujarat


you can avail depreciation of 6% on assets for first 10 years and 2% on remaining useful years. In case of Accelerated depreciation you can involve 80% depreciation first year itself in your book of accounts.

Return on Equity In a project where you have invested 20% of the total
project cost as equity or a part of expense, when this project goes into production you will earn something. So RoE is the rate per year you get your investments back. In financial terms it is calculated as RoE = Net Profit after Tax -----------------------------Equity Invested

Insurance Cost Every year insurance Premium is about 0.35%of the capital
cost of assets.

38

Degradation This is a phenomenon in which the Power output of a PV panel


Decreases every year at an average of 0.7% to 1% depending on the quality and type of PV panels.

Operational Expense This is a periodical expense needs to be done to


maintain, operate your Plant. Also includes the purchase of items and other contingencies. The operational expense includes. O&M Cost decided with EPC Transportation Cost Salaries Other Fixed costs like Telephone, internet, housekeeping, etc. Purchase of Spares and other items

An excel sheet of Simple financial model and CERC financial model sheet is included in the CD with this document

Carbon Credit/ CDM benefit According to Kyoto Protocol, the RE


generators can get CDM benefit on RE they produced. Per 1MW of Energy produces I CDM is availed. This CDM can be traded for which one can get 5 to 8 Euros (According to Present rate).

Revenue from Sale The amount generated from sale of total electricity
according to the Agreement rate of sale/kWh.

How to make a Simple financial Model


A Draft Financial Model is provided in Attached CD in excel format Example for the same is given in section 2.7

Follow these steps (Yearly Calculation) (Indian rupees) (1 Euro = 71 Rs) Step 1 Calculate your average generation. Multiply it by rate of sale. You will get your Revenue from sale of Electricity. Lets say its A Step 2 Divide your generation by 1000, and the number which you get is your no of CDM. Multiply that CDM nos with 568(8 Euros). You now get your Revenue from CDM. Lets Say its B Step 3 - Every Year Instalment Online or use the spread sheet contained in CD with this manual and calculate the Amortization schedule. The Figure of Principle + Interest paid each year is to be taken in account and lets say its C. Step 4 Add all your Operational Expenses which includes O&M every year, Insurance, Salaries, Purchase of Spares and Contingencies. Lets say the Total Operational expenditure as D Step 5(Net Profit) Lets Say its E

E = A+B C D Step 6 - Take 6% of the Project cost as Depreciation and Subtract it from E, the
Amount generated will be your Net Profit in Book of Accounts, from which Applicable taxes are to be paid and the final amount after paying taxes is your Profit after Tax.

39

2.7 A typical Study on 1MW Plant


Based on Gujarats Solar Policy, New tariff order This is only a Reference project and explanations are only in brief

SITE Location and Meteorology


Location: Bajana, Dist.: Surrendranagar, Gujarat Latitude 23.7 / Longitude 71.46
Unit Latitude Longitude Elevation Heating design temperature Cooling design temperature Earth temperature amplitude Frost days at site N E m C C C day Climate data location 23.7 71.46 73 16.61 37.26 19.36 0

Month

Air temperat ure

Daily solar Win Relative radiation Atmospheri d humidit c pressure spee y horizonta d l % 33.0% 29.3% 27.2% 32.6% 43.8% 61.0% 73.0% 71.2% 58.4% 38.4% 28.6% 31.4% 44.0% kWh/m2/ d 4.65 5.3 6.2 6.7 6.7 5.7 4.7 4.5 5.2 5.2 4.7 4.31 5.31 kPa 100.6 100.5 100.2 99.9 99.6 99.2 99.2 99.5 99.8 100.1 100.5 100.7 100.0 m/s 3.3 3.4 3.5 3.8 4.4 4.2 3.8 3.3 3.0 2.7 2.8 3.0 3.4 10.0

Heatin Coolin Earth g g temperatur degree- degreee days days

C 21.4 22.5 33.6 39.4 40.0 34.5 31.0 30.8 32.7 33.2 29.6 25.4 31.5 0.0

C-d 0 0 0 0 0 0 0 0 0 0 0 0 0

C-d 368 389 570 635 687 623 580 568 582 615 511 419 6547

Source: NASA & RETscreen International

January February March April May June July August September October November December Annual Measured at (m)

21.9 24.0 28.7 31.4 32.1 30.7 28.7 28.4 29.4 30.0 27.1 23.4 28.0

40

SUN Paths Diagram


Courtesy: PVsyst 5.05

Land Feasibility (Brief)


General Characteristics The Land is near Bajana Village of Surrendranagar District , Gujarat The land is located at the Main road and the distance from Ahmedabad 103 Kms which facilitates the transportation. Nearest Substation The distance of substation from Land is 7 Km. Substation Type: 66 kV There will be no Wheeling charge

According to Government:At 66 kV voltage level and above: As per the scope of the current Discussion Paper, this clause will be applicable to solar Plants of capacity greater than 4 MW. For wheeling of power to consumption site at 66 kV voltage level and above, the wheeling of electricity generated from the Solar Power Generators to the desired location(s) within the State shall be allowed on payment of transmission charges and transmission losses applicable to normal Open-Access Consumer. As a promotional measure for solar power which is still in its nascent stage. No cross-subsidy Surcharges would be levied in case of third-party sale.

41

The control period proposed for the solar energy tariff order is from 29th January, 2012 to 31st March, 2015. Considering the nature of solar energy, all solar energy power plants will be considered as must run facilities, and the power generated from such power plants will be kept out from the merit order dispatch principles.

Type Of soil and Terrain The type of soil is yellow type of Semi rigid Soil and has a good properties of holding structures The terrain is flat and there are no mountains in nearby district, so no shadows and no Blocking of sun as there is No constructed building or infrastructure near land which blocks the sun. Also there are no Water blockage problems.

History and Surroundings. In past 20 years, a 4.7 Richter scale earthquake was experienced over land and nearby area, According to reports there was no damage. No storm has been recorded in history of this land There is no forest area near to land, no river of lake and No mountains. So there is much less possibility of having a natural calamity or natural hazard.

Availability As there is a nearby substation and nearby village having electricity in all areas, we can get electricity easily without adding any infrastructure, so the same will be useful in Construction. The Electricity Required Will be taken from Gujarat Electricity Board OR Diesel Generator Can be kept in case of scarcity of Electricity There is plenty of water available as there are 7 wells in land and as the area around land is farming area, we can get plenty of water. Also government has the facility of proving a special line of water if needed.

Other Out of 365 days in a year, we have taken only 330 days as useful days of production The ideal time is 7.00 am to 6.30pm. This is the average time considered as sunrise and sunset timings of every month are different.

42

Technical
Plant Size Land Contour Technology PV Panels Total No of panels Inverter Total No of Inverter Structures 1MW Flat Poly-Crystalline Jinko Solar JKM 250P-60 4000 SMA Sunny Central 1000MV11 with multi MPPT feature 1 Galvanised Steel Fixed Structures

Generation
Typical PVsyst Loss diagram and Production Every Year

Datasheets of most used Panels & Inverters are included in the CD with this Document

43

Overview Table

E_Array is the energy output which u get before you power is feed in inverter. Your actual generation will be E_Grid
25 Year Generation (Degradation @ 0.8% every year)
Year No 1 2 3 4 5 6 7 8 9 10 11 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Performance Ratio 100% 99.200% 98.400% 97.600% 96.800% 96.000% 95.200% 94.400% 93.600% 92.800% 92.000% 91.200% 90.400% 89.600% 88.800% 88.000% 87.200% 86.400% 85.600% 84.800% 84.000% 83.200% 82.400% 81.600% 80.800% Generation 1714076 1700363 1686651 1672938 1659226 1645513 1631800 1618088 1604375 1590663 1576950 1563237 1549525 1535812 1522099 1508387 1494674 1480962 1467249 1453536 1439824 1426111 1412399 1398686 1384973

44

Financial Analysis
Project Cost ( Excluding Land) Equity Debt Loan tenure Interest Rate Insurance Premium Operational Expense including O&M Escalation In Op-ex Project Life Tariff 9 Cr 1.8 Cr 7.2 Cr 10 years 8% 315000 annually 6 Lakhs 3% Annually 25 years 11.25 for 12 years and 7.50 for next 13 years

If you want the same financial model on system using single axis tracker, other specified products or in other financial terms and Heads than fell free to mail us.
info@bepmax.com

Step 1 & 2 Revenue


Year No Generation Revenue from Tariff Revenue from CDM ( 1CDM =8 euros) Total Revenue

1 2 3 4 5 6 7 8 9 10 11 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

1714076 1700363 1686651 1672938 1659226 1645513 1631800 1618088 1604375 1590663 1576950 1563237 1549525 1535812 1522099 1508387 1494674 1480962 1467249 1453536 1439824 1426111 1412399 1398686 1384973

19283355 19129084 18974824 18820553 18666293 18512021 18357750 18203490 18049219 17894959 11827125 11724278 11621438 11518590 11415743 11312903 11210055 11107215 11004368 10901520 10798680 10695833 10592993 10490145 10387298

973595.2 965806.2 958017.8 950228.8 942440.4 934651.4 926862.4 919074 911285 903496.6 895707.6 887918.6 880130.2 872341.2 864552.2 856763.8 848974.8 841186.4 833397.4 825608.4 817820 810031 802242.6 794453.6 786664.7

20256950 20094890 19932842 19770781 19608733 19446673 19284612 19122564 18960504 18798455 12722833 12612196 12501568 12390931 12280295 12169666 12059030 11948401 11837765 11727128 11616500 11505864 11395235 11284599 11173962

45

Step 3, 4 & 5 (Net Profit)

Year No

Total Revenue

Every Year Principle + Interest

Insurance

Operational Expenditure

Net Profit (without Tax)

1 2 3 4 5 6 7 8 9 10 11 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

20256950 20094890 19932842 19770781 19608733 19446673 19284612 19122564 18960504 18798455 12722833 12612196 12501568 12390931 12280295 12169666 12059030 11948401 11837765 11727128 11616500 11505864 11395235 11284599 11173962

10730123 10730123 10730123 10730123 10730123 10730123 10730123 10730123 10730123 10730123

315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000 315000

600000 618000 636540 655636.2 675305.3 695564.4 716431.4 737924.3 760062 782863.9 806349.8 830540.3 855456.5 881120.2 907553.8 934780.4 962823.9 991708.6 1021460 1052104 1083667 1116177 1149662 1184152 1219676

8611827 8431767 8251178 8070022 7888304 7705985 7523058 7339516 7155319 6970468 11601483 11466656 11331111 11194811 11057741 10919886 10781206 10641693 10501305 10360025 10217833 10074687 9930573 9785447 9639286

Step 6 - Depreciation, Taxation, PAT and Actual PAT


FACT Depreciation MAT Income Tax Equity Investment FIGURES 6% for 10 years 2% for next 15 years 18% for first 10 Years 30% For next 15 years 1.8 Cr

Table in next Page

46

Year No

Net Profit (without Tax)

Depreciation

1 2 3 4 5 6 7 8 9 10 11 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

8611827 8431767 8251178 8070022 7888304 7705985 7523058 7339516 7155319 6970468 11601483 11466656 11331111 11194811 11057741 10919886 10781206 10641693 10501305 10360025 10217833 10074687 9930573 9785447 9639286

5400000 5400000 5400000 5400000 5400000 5400000 5400000 5400000 5400000 5400000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000 1800000

Profit Before Tax ( In Book of Accounts)

TAX

Actual Net Profit

ROE ( Return on Equity)

3211827 3031767 2851178 2670022 2488304 2305985 2123058 1939516 1755319 1570468 9801483 9666656 9531111 9394811 9257741 9119886 8981206 8841693 8701305 8560025 8417833 8274687 8130573 7985447 7839286

578128.9 545718 513212.1 480603.9 447894.8 415077.3 382150.4 349113 315957.3 282684.3 2940445 2899997 2859333 2818443 2777322 2735966 2694362 2652508 2610392 2568007 2525350 2482406 2439172 2395634 2351786

8033698 7886049 7737966 7589418 7440410 7290908 7140907 6990404 6839361 6687784 8661038 8566659 8471778 8376368 8280419 8183920 8086844 7989185 7890914 7792017 7692483 7592281 7491401 7389813 7287500

44.63% 43.81% 42.99% 42.16% 41.34% 40.51% 39.67% 38.84% 38.00% 37.15% 48.12% 47.59% 47.07% 46.54% 46.00% 45.47% 44.93% 44.38% 43.84% 43.29% 42.74% 42.18% 41.62% 41.05% 40.49%

Land Value Calculation

Area 1 Acre 6 Acres( 1MW)

Purchase Cost 10,00,000 60,00,000

Escalation Every Land Cost after year. Estimated 25 years 10% 9849733 10% 5909840

47

3
Photovoltaics in small Scale

3.1 PV applications in Small Scale


Here we are talking about the PV system which generates Electricity. There are Systems Available in market which are pre-configured and Plug and play. It includes PV panels, Inverters, AC and DC boxes, Balance of systems. The same types of solar KITS are been manufactured and supplied. The same Bepmax is marketing. These are available in different sizes of 1kW, 2.2kW, 5 kW and 10kW. Typical Applications of PV kits are described in below chart

Residence

For Rural areas

Club houses & Party plots

For power to Telecom towers

PV KITS
Industry Rooftops Commercial Offices and Complex

Schools and Colleges

Common Lighting for Flats

48

3.2 Grid Connected and Stand-alone Systems


For Applications involving Residential and Industrial where Electricity is to be Generated from solar and has to be used for own purpose Solar Kits are been used. These Solar Kits are Pre-Engineered and uses Tier-1 Solar Modules. These pre-engineered kits are PLUG and PLAY type & ready to install with all necessary accessories and hardware which can be installed in many kinds of site conditions. They are available in 2 types: Stand-Alone with battery backup In house Grid Connected

The use of these standardized kits gives the benefit of optimizing the energy production and the costs involved in setting up such small scale power plants.

49

In house Grid Connected

Stand alone with battery backup


In a stand-alone Solar PV system the main objective is to utilize the solar energy during day time and also to charge the battery bank when generated solar energy is more than the load demand & use the stored energy during night time or during periods of low solar power. In less or No utilization stage, charge or Electricity can be stored in batteries for further utilization. Also Battery sizing can also be done depending upon requirement.

This electricity availability from this system is during daytime when sun is available. So the electricity can be utilized only at day-time

There is wastage of electricity when there is less or No utilization, Also it has to be delivered to continuous load.

Cost of this system is less

Cost of this system is high due to involvement of batteries in it.

A typical Example on roof

50

Space Required

Size of Plant (kW) 1 2.5 5 10 15 20

Area Required (Sq.mtrs) 10 25 55 100 155-160 200-220

Always check your open space, Shadings and Clear south direction with Horizon (sunrise and set times) before you plan to set solar KITS on your rooftop

3.3 Government Subsidies and Tax benefits


Subsidy of 30% is available from MNRE on both with and without battery models on benchmark cost of Rs 270/Wp on battery model and Rs 190/Wp on without Battery model. For claiming subsidy under "MNRE off-grid and other application scheme" two set of complete and duly signed application forms need to be submitted to State Renewable Nodal Agency. From State level the application will be preceded to central level for final approval from PAC (Project Approval Committee). The application forms are available for download at official website of MNRE. Before this the project proponent needs to appoint a consultant for proper pre-feasibility study of the proposed project. The findings of this study are required at various stages of application form filling. Once the project gets approval, funding can be claimed through NABARD which has already got affiliation from IREDA, which has been designated as central official body for managing funds granted under this scheme. Solar systems can be used to fulfil even smallest capacity power requirements because of the flexible sizes in which solar photovoltaic panels are available these days. Since a household system is typically an off-grid, one can avail the capital subsidy benefits of a MNRE scheme also. This reduces the capital cost of the system straight away by 30% along with the tax saving benefit in form of 80% accelerated depreciation for 1st Year

51

Reference Table for Subsidies


BENEFICIARIES / ENERGY SOURCES LOCAL BODIES/ INSTITUTIONS COST/ SUBSIDY

SL. A.

INDUSTRIES

INDIVIDUALS

SOLAR PHOTO VOLTAIC (SPV) -Emergency lamps in factories, offices, canteens, etc.

Solar Lighting

Emergency lamp. Emergency lamp, Security light Rs 81/watt with Battery Rs 57/Watt without Battery

(a)

Lantern (Portable Light)

-Security lights at the gate

Farm operations at night. Pest catcher in farms/gardens

(b)

Home lights

(i) Parking Areas Lighting for offices, other small buildings, Group houses, Multipurpose community centres, Guest houses, Parking areas, Corridors, Places of worship.

18 W panel 1 light 37 W panel 2 lights 74 W panel 4 lights (20W DC fan can also be used in place of one light)

(ii) Portico (iii) Canteens (iv) Guest Houses (v) Toilets etc.

Individuals, Farm houses, Radio, T.V.

Rs 81/watt with Battery Rs 57/Watt without Battery

(c)

Street lights

- Campus/factory lighting Street lights, Parks & Play fields, Bus stands, Bus shelters, Petrol bunks, Resorts etc.

(74 W)

- Approach road, garden lighting, parking areas, security lights, stores yard

Garden/Security lights

Rs 81/watt with Battery Rs 57/Watt without Battery

Automatic ON/OFF From dusk to dawn (10 hrs.) Small shops, Nursing Homes, Hospitals, Health centres, Resorts, etc.

Solar power pack (1 kWp )

Lighting for offices, corridors, parking areas, conference halls etc.

Back-up supply for houses, clinics, shops.

Rs 81/watt with Battery Rs 57/Watt without Battery

52

Illuminated Hoardings up to 1 kWp

Illuminated Hoardings / Bill Boards

Advertising Agency, Traders enterprises Shopping complexes, Offices, Colleges, Street lights for local bodies, Community centres, Resorts etc.

--

Rs 81/watt with Battery Rs 57/Watt without Battery

SPV Power Plant (1 kW and above)

Lighting for offices (higher load) campus, Security lighting, lighting for residential colonies.

--

Rs 81/watt with Battery Rs 57/Watt without Battery

SPV Water Pumps 200 to 3000 Watts (up to 3 HP 30 m depth) (more effective with drip irrigation)

- Drinking water supply

Small scale irrigation Drinking water supply. Small scale irrigation

- Watering of plants/ gardens/orchards.

Drinking water supply, Public toilets, Resorts.

Rs 81/watt with Battery Rs 57/Watt without Battery

Building Integrated Photovoltaic (BIPV) up to 250 kWp

Administrative Buildings, Corporative Offices

Office, Residential buildings, Demo Solar Buildings

Mansions, Bungalows, Farm Houses.

Rs 81/watt with Battery Rs 57/Watt without Battery

Street light control system with 5 Wp SPV module to control 100 street lights

Campus, factory lights, Approach road, garden lighting, parking areas, security lights, stores yard

Street lights, Garden lights parks & play fields, bus stands, bus shelters, petrol bunks, Resorts etc. Traffic Police

Garden / Security lights

Rs 81/watt with Battery Rs 57/Watt without Battery

Solar Road Studs, blinkers Solar Traffic signals 500 Wp (min) SOLAR THERMAL

--

--

9 B.

--

Traffic Police

--

Solar Water Heating

(i) Process Industries viz. Breweries, Pharmaceuticals, Chemical, Dyeing etc.

(i) Hospitals, Primary Health Centres, Nursing Homes etc. Bathing, Washing, Cooking (subject to quality of water)

Rs.3300 per Sq.m for FPC (Flat Panel Collectors)

- Temperature level up to 80oC

(ii) Boiler Feed Water Heating

(ii) Hostels, Lodges, Resorts etc.

- Capacity 1005000, 25000 LPD (Litres per Day)

(iii) Pre-cooking in Canteens

(iii) Drying of Agro Produce in Small Scale.

Rs. 3000 per sq.m for ETC (Evacuated Tube Collector)

53

(iv) Dish washing etc. 2 Solar Air Heating (i) Drying Agro products

(iv) Pilgrim centres (i) Fish Drying

(Temperature range: 80 to 100oC)

(ii) Drying of Fish

(ii) Drying of Appalams, Vadagams etc. (iii) Drying Agro products in Small Scale in co-operative Societies, Self Help Groups involved in Food processing Small & Medium Enterprises (SMEs)

Not applicable

Rs 2400 per sq.m

(iii) Preheating of withering air in Tea Industries. (iv) Any other application requiring low temperature. 3 (i) (ii) Solar Cooker Box Type (5 persons) Dish Type (15 persons) Community cookers (iii) (50 persons) Steam cooking (1000 to Item (i) & (ii) for families, Road sides, Restaurants item (iii) & (iv) for canteens

Noon-meal Centres, Hostels, Community Kitchens, Hotels, Hospitals with mainly community cookers.

Domestic cooking with Box type or Dish type cookers.

RS 2100 per sq. for manual tracking Rs 5400 per sq. for single axis tracking Rs. 6000 per sq. for double axis tracking system

(iv)

10000 persons) Batteries of Topping in street lights. Topping of Batteries in home lights

Solar Stills (Distilled Water)

Laboratories, Battery Topping

5 II

Energy Efficient Buildings (climate responsive architectural concept)

Office, factory buildings, Commercial complexes etc.

Office buildings, Community centres, other type of buildings

Houses

BATTERY OPERATED VEHICLE

Van, Autorickshaw, passenger car.

Campus use, transport with the factories

Urban/Rural transport, Hospital, Tourist sites etc.

Passenger cars

Rs. 4000 for low speed vehicle Rs 5000 for high speed vehicle

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3.4 Registration Procedure for SI, RESCO and other with MNRE
The Jawaharlal Nehru National Solar Mission (JNNSM) is one of the eight National Missions launched by the Government of India as part of the Indias National Action Plan on Climate Change. JNNSM aims to promote ecologically sustainable growth, while addressing Indias energy security challenge. The immediate aim of the mission is to focus on promoting the use of renewable sources of energy and setting up an environment, which will facilitate increased penetration of solar technology in the country. In order to achieve this objective, the mission envisages providing capital and interest rate subsidies with an objective to make the solar off-grid projects commercially viable and workable on a sustainable basis. To scale up the said program and increase participation of capable entities as well as reduce transaction time, the Ministry of New and Renewable Energy (MNRE) has envisaged an alternative route wherein channel partners can directly submit their project proposals to MNRE. This would enable a quicker turnaround in project approval process as compared to submitting proposals through the State Nodal agencies. In order to ensure that only capable and wellmeaning channel partners are allowed through this new route, the mission has envisaged that such entities get an accreditation by reputed rating agencies for submission of projects directly to MNRE. Need for accreditation The Mission envisages that the scheme would be implemented through multiple channel partners so that there is a scaling-up of projects across geographies. For the successful, wide-scale and meaningful implementation of the mission, it is important that only credible channel partners are involved in the missions implementation. The accreditation process would categorize various entities into grades which would help in identifying those channel partners which have the capacity and capability to undertake these projects. This publicly available and highly credible benchmarking exercise can act as a powerful tool for effective promotion of best-practices in this sector. It will also ensure optimum and effective use of the subsidies, resulting in an increase in the number of off-grid solar projects. This will also function as a tool to monitor performance capability over time, incentivize efficient players and at the same time penalize weaker performance. For the entities submitting proposals and seeking subsidies, this route of submitting projects, directly to the ministry will provide one more channel and ensure faster turnaround for appraisal of projects & disbursal of subsidies. The grading will also enable the channel partners to showcase their capability in executing projects to various other stakeholders like lenders, customer, suppliers and community groups. The grading would also provide a tool for comparison of these channel partners on a rational, scientific framework and a commonly applicable scale. Further, in line with the objective of the mission, the grading process also envisages the participation of start-ups with requisite technical skills, and innovative entrepreneurs and accordingly factors in the parameters. The grading would also facilitate rapid up-scaling of the scheme

55

in an inclusive mode and enable knowledge sharing between channel partners and project developers. Framework Development A framework was developed based on discussions held with various stakeholders to incorporate their views and opinions on the current scenario of the sector, the best practices adopted by entities and the expectations of these stakeholders. Interactions were conducted with manufacturers, system integrators, bankers, industry associations, as well as government officials involved in the solar sector. The framework was finalized based on the feedback from all the above stakeholders. The framework was also validated using a comprehensive testing exercise which involved testing the framework on a sample list of entities identified by the Ministry. The Ministry has adopted the framework and the framework would henceforth be used for the grading of the channel partners.

Framework for assessment of System Integrators


1 Promoter Track Record A Solar Capacity installed B Promoters' relevant track record C Quality of second tier management team 2 Technical Expertise and Adequacy of Manpower A Technical Expertise B Adequacy of Manpower 3 Quality of Supplier and Tie-Ups A Quality of suppliers B Supplier feedback 4 Customer and O&M Network A Customer Feedback B O&M capabilities Performance Capability Grading Financial Strength 1 Sales 2 Return on capital employed 3 Total Outside Liabilities/ Tangible Net worth 4 Interest Coverage 5 Net worth 6 Feedback of bankers on conduct of account and integrity 7 Current Ratio

Framework for assessment of RESCOs


1 2 3 4 5 Promoter track record Promoters qualification and technical competence Monetary value of capacity Installed Promoter's track record Quality of management Tie-ups with system integrators Project Management Capability

56

6 7 8

O&M capabilities and tie-ups Quality of EPC contractors and equipment suppliers Supplier/EPC feedback Customer concentration, quality and ability to manage receivables 9 Quality of customers 10 Collection capability Performance Capability Grading Financial strength 1 Net worth 2 Bankers Feedback 3 Financial Flexibility Project Related Assessment 4 Gearing 5 Debt Service Coverage Ratio 6 Interest Cover 7 Project IRR Process for grading Channel partners desirous of applying for CFA directly to MNRE would need to obtain a grading from the credit rating agency selected by MNRE. Eligible channel partners which will be considered by MNRE for providing subsidy under this scheme.

Following mentioned steps would be included in grading an entity by a credit rating agency: Step 1: Any entity interested to become channel partner will approach any of the rating agencies like CRISIL and ICRA Step 2: The rating agency will assign rating to the entity based on financial and technical strength. Step 3: The entity will approach the Ministry for accreditation based on the obtained rating and the Ministry will do the needful Step-4: After accreditation the entity will submit project proposal to Project Approval Committee for approval. PAC will take necessary action. Step-5: After approval of Project the entity will implement the project and approach the Ministry for release of CFA Step-6: The Ministry will get the project inspected through third party and release the CFA Features of the Grading

Product Definition: The grading will reflect The performance capability and financial strength of the channel partner to undertake off-grid solar projects. Product Scale: The grading would be done on a 5x3 matrix (5x3). This matrix will assess the entity on two broad parameters; performance capability and financial strength.

57

Financial Strength High Performance Capability Highest High Moderate Weak Poor SP 1A SP 2A SP 3A SP 4A SP 5A Moderate SP 1B SP 2B SP 3B SP 4B SP 5B Low SP 1C SP 2C SP 3C SP 4C SP 5C

Validity of Grading The grading will be valid for a period of two years for entities with the highest performance capability (graded 1A/1B/1C); for all other entities the grading will be valid for a period of one year, to offer them an opportunity to move up the grading scale.

The channel partners who wish to get themselves graded under this scheme can contact the credit rating agencies listed below. For grading fees, please visit the website of the respective rating agencies

CRISIL and ICRA are the Rating agencies. Visit their websites for more Information

58

3.5 Steps to Register the Solar project


First of all we recommend to see whether you size of project is eligible for subsidy or not. As for residence subsidy is only available up to 1kW solar pack but if anyone wants solar for their flats common lighting than subsidy is available up to 100kW as it is considered in commercial If you are the owner of the project than you can follow below steps

Registration Procedure Document and Project proposal format is included in the CD attached with this document

Select you size

Check if subsidy is available for your size and entity

Approach MNRE Registered SI

Approach unRegisteres SI

Do your own paper work for Subsidy

SI will directly submit proposal to MNRE

They will prepare your Project proposal and will approach registered state agencies

In this case you have to prepare proposal and have to approach state agencies

After the project is passed than your subsidy will be deposited in SI's account and they can provide you back

After the project is passed subsidy will be directly be deposited in your account

After the project is passed subsidy will be directly be deposited in your account

SI = System integrator, who will supply and install solar system

59

3.6 Benefits of Using Solar

Benefits

Decreases your Electricity bill

You will be on when power cuts off

Long life of panels and low maintenance

30% MNRE subsidy available and 80% Accelerated benefit for 1st year

Example Entity
State Electricity rate with taxes Annual Units used Annual Bill Space Available Proposed Size of Plant Proposed Type Overall cost with Consultation and installation Subsidy Available Tax benefits from 80% AD benefit from 1st year Actual Cost after Savings Units generated every year Savings on electricity Bill every year Break Even Useful life of Solar

Commercial office on top floor with terrace rights


` 7.80/Unit(kWh) 12,000 ` 101400 60 Sq.mtrs 5kW System without battery. As office being closed at night hours. `6,00,000 `1,80,000 `1,00,800 `319200 9000 `70200 4.5 years 25 Years

60

4
A Lookout on REC

4.1 REC Mechanism What is RPO?


Renewable Purchase Obligation (RPO) A mandate for obligated entities (OEs) to purchase a percentage of the total electricity consumption Mandated by Electricity Act 2003 Section 86(1) (e) - The State Electricity Regulatory Commission (SERC) should. specify, for purchase of electricity from renewable energy sources, a percentage of the total consumption of electricity in the area of a distribution licensee Section 61(h) The CERC shallspecify the terms and conditions for the determination of tariff, and shall be guided by the promotion of co-generation and generation of electricity from renewable sources of energy Section 66 - The CERC shall endeavour to promote the development of a market (including trading) in power in such manner as may be specified and shall be guided by the National Electricity Policy Obligated Entities like 1) Distribution companies 2) Open access Consumers 3) Industries Consuming Captive Power Have to fulfil their RPO for which they can do the following Process Generate their own renewable energy Purchase energy from RE sources that comply with RPO regulations Purchase Renewable Energy Certificates(RECs) In case an obligated entity does not meet its RPO, and even a single REC remains Unsold on the exchange, a penalty of maximum cost of REC shall be imposed on the Entity.

What is REC?
REC means Renewable Energy Certificate which is equal to 1MW energy produced of 1000kWh. It is Valid for 365 Days from the date of issuance. This Certificate can be traded to Obligated Entities through Indian Energy Exchange (IEX) and Power Exchange of India Ltd (PXIL) REC Price (Source: REC registry) Floor Price - ` 9300 Ceiling Price - ` 13400 Valid Period April 2012 to March 31st 2017

61

Future Expectations on Prices It is an Assumption that Prices of REC will be halved after March 2017, so the price will come down to `4600 - ` 6500 Minimum Required Capacity 250kW Objective - Renewable Energy Certificate (REC) mechanism is a market based instrument to promote renewable energy and facilitate compliance of renewable purchase obligations (RPO). It is aimed at addressing the mismatch between availability of RE resources in state and the requirement of the obligated entities to meet the renewable purchase obligation (RPO).

REC Registration Procedure


Reference and Source: www.recregistryindia.nic.in

Accredation

Registration

Issuance of REC

Redemption of REC

Accreditation
STEP 1: The applicant shall apply for Accreditation on the Web Based Application and shall also submit the same information in physical form with the State Agency. The application for accreditation shall contain (i) owners details, (ii) operator details (in case the owner and operator are different legal entities), (iii) Generating Station details, (iv) Connectivity details with concerned licensee (STU/DISCOM), (v) metering details, (vi) Statutory Clearance details, (vii) Undertaking of not having entered into PPA on preferential tariff for the capacity for which participation in REC. An application for availing accreditation shall be made by the generating company to the host State Agency, as defined under Clause 2(1) (n) of the CERC REC Regulations. The applicant shall apply for Accreditation on the Web Based Application and shall also submit the same information in physical form with the State Agency. The application for accreditation shall contain (i) owners details, (ii) operator details (in case the owner and operator are different legal entities), (iii) Generating Station details, (iv) Connectivity details with concerned licensee (STU/DISCOM), (v) metering

62

details, (vi) Statutory Clearance details, (vii) Undertaking of not having entered into PPA on preferential tariff for the capacity for which participation in REC scheme is sought as per the CERC REC Regulations and (viii) any other relevant information as per the enclosed format (FORMAT- 1.1 : Application for Accreditation of RE Generation Project). In case, the Applicant has multiple RE generation projects then, separate Applications will have to be submitted by the Applicant for each RE generation project. Accreditation of each RE generation project shall be carried out separately. The RE Generation Project shall comply with the requirements of Connectivity standards for Grid Connectivity at particular injection voltage/grid interface point as specified by State Transmission Utility or concerned Distribution Licensee, as the case may be. The Application made for accreditation of RE generation project shall be accompanied by a non-refundable processing fee and accreditation charges (one time and annual, if any) as determined by the Appropriate State Electricity Regulatory Commission from time to time. STEP 2: The State Agency shall assign a unique acknowledgement number to the Applicant for each application for accreditation of its RE generation project, for any future correspondence. STEP 3: After receipt of application in physical form for accreditation, the State Agency shall conduct a preliminary scrutiny to ensure Application Form is complete in all respect along with necessary documents and applicable processing fees and accreditation charges. The State Agency shall undertake preliminary scrutiny of the Application within 5 working days from date of receipt of such Application. STEP 4: After conducting the preliminary scrutiny, the State Agency shall intimate in writing to the Applicant for submission of any further information, if necessary, to further consider the application for accreditation or reject application. The reasons for rejecting the application for accreditation shall be recorded and intimated to Applicant in writing within 2 working days from date of receipt of the completed application by State Agency. STEP 5: While considering any application for accreditation of RE generation project, the State Agency shall verify and ascertain availability of following information: a. Undertaking of 'Availability of Land' in possession for setting up generating station b. Power Evacuation Arrangement permission letter from the host State Transmission Utility or the concerned Distribution Licensee, as the case may be c. Confirmation of Metering Arrangement and Metering Location d. Date of Commissioning of RE project for existing eligible RE Project or Proposed Date of Commissioning for new RE for accreditation e. Undertaking regarding Off-take/Power Purchase Agreement f. Proposed Model and Make for critical equipment (say, WTG, STG, PV Module) for the RE Project. Confirmation of compliance of critical equipment with relevant applicable IEC or CEA Standards g. Undertaking for compliance with the usage of fossil fuel criteria as specified by MNRE h. Details of application processing fees/accreditation charges

63

STEP 6: The State Agency, after duly inspecting/verifying conditions elaborated in Step 5, shall grant 'Certificate for Accreditation' to the concerned Applicant for the proposed RE Generation project and assign a specific project code number to that effect which shall be used by the such Applicant (Eligible Entities) for all future correspondence with the State Agency. The process of accreditation shall normally be completed within 30 days from date of receipt of complete information by State Agency. In case accreditation is not granted at this stage, the reasons for rejecting the application for accreditation shall be recorded and intimated to Applicant in writing. STEP 7: If accreditation is granted, the State Agency shall also intimate accreditation of particular RE generation project to the following entities, a. The Central Agency, as defined under Clause 2(1) (b) b. The host State Load Despatch Centre c. The distribution company in whose area the proposed RE generation project would be located.

Registration
STEP 1: The applicant shall apply for Registration on the Web Based Application and shall also submit the same information in physical form with the Central agency. The application for registration shall contain the following information as submitted for Accreditation of the RE Generation project: (i) Owner details (ii) RE Generating Station details, (iii) certificate of accreditation by the State Agency, (iv) generating facility commissioning schedule (v) any other relevant information as per the enclosed format (FORMAT- 2.1 : Application for Registration. An application for availing registration shall be made by the RE Generating Company to the Central Agency, as defined under Clause 2(1) (b) of the CERC REC Regulations. The applicant shall apply for Registration on the Web Based Application and shall also submit the same information in physical form with the Central agency. The application for registration shall contain the following information as submitted for Accreditation of the RE Generation project: (i) Owner details (ii) RE Generating Station details, (iii) certificate of accreditation by the State Agency, (iv) generating facility commissioning schedule (v) any other relevant information as per the enclosed format (FORMAT- 2.1 : Application for Registration of Eligible Entity). The Application made for registration of RE Generating Company with the Central Agency as Eligible Entity shall be accompanied by a non-refundable registration fees/charges and annual fee/charges as determined by the Central Electricity Regulatory Commission, by order, from time to time. In case, the Applicant has multiple RE generation projects then, separate Applications will have to be submitted by the Applicant for each RE generation project. STEP 2: The Central Agency shall assign a unique acknowledgement number2 to the Applicant for each application for registration of its RE generation project, for any future correspondence. While registration of each RE generation project shall be carried out separately, unique number once assigned for a particular Eligible Entity shall remain same for all RE generation projects of the said Eligible Entity to be registered with Central Agency. A sequential number series shall be followed for distinguishing each RE generation project of the Eligible Entity to be registered under the unique number assigned to particular Eligible Entity. STEP 3: After receipt of application in physical form for registration, the Central

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Agency shall undertake preliminary scrutiny to ensure Application Form is complete in all respect along with necessary documents and applicable registration fees and charges. The Central Agency shall undertake preliminary scrutiny of the Application within 2 working days from date of receipt of such Application. STEP 4: After conducting the preliminary scrutiny, the Central Agency shall intimate in writing to the Applicant for submission of any further information, if necessary, to further consider the application for registration or reject application. The reasons for rejecting the application for registration shall be recorded and intimated to Applicant in writing within 2 working days from date of receipt of the completed application by Central Agency. STEP 5: While considering any application for Registration, the Central Agency shall verify and ascertain availability of following information: 1. A Valid Certification of Accreditation by State Agency 2. Date of Commissioning or Proposed date of Commissioning or Commissioning Schedule for new projects. 3. Undertaking that it has not entered into any Power Purchase Agreement at preferential tariff as may be determined by the Appropriate Commission 4. Details of payment of registration fees/charges

STEP 6: The Central Agency, after duly inspecting/verifying conditions elaborated in Step 5, shall grant 'Certificate for Registration' to the concerned Applicant as 'Eligible Entity' confirming its entitlement to receive Renewable Energy Certificates for the proposed RE Generation project and assign a specific entity-wise and project-wise code number to that effect which shall be used by the such Applicant (Eligible Entities) for all future correspondence with the Central Agency. The process of registration shall normally be completed within 15 days from date of receipt of complete information by Central Agency. In case registration is not granted at this stage, the reasons for rejecting the application for registration shall be recorded and intimated to Applicant in writing. STEP 7: If registration to Eligible Entity is granted, the Central Agency shall also intimate registration of Eligible Entity for particular RE generation project to the following entities, a. The host State Agency b. The host State Load Despatch Centre c. The Power Exchanges, as defined under Clause 2(1) j of the CERC REC Regulations

Issuance of REC
STEP 1: The eligible entity shall apply for Issuance of REC on the Web Based Application and shall also submit the same information in physical form with the Central Agency. The application for issuance of certificate shall include (i) Energy Injection* Report duly certified by the concerned State Load Despatch Centre (ii) Registration Certificate and shall be made in the specified format (FORMAT- 3.1: "Application for Issuance of Renewable Energy Certificates to the Eligible

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Entities"). The application shall be accompanied by applicable fee & charges. An application for issuance of Renewable Energy Certificate shall be made by the Eligible Entity to the Central Agency. The eligible entity shall apply for Issuance of REC on the Web Based Application and shall also submit the same information in physical form with the Central Agency. The application for issuance of certificate shall include (i) Energy Injection* Report duly certified by the concerned State Load Despatch Centre (ii) Registration Certificate and shall be made in the specified format (FORMAT- 3.1: "Application for Issuance of Renewable Energy Certificates to the Eligible Entities"). The application shall be accompanied by applicable fee & charges towards issuance of certificates as determined by CERC from time to time. While making application for issuance of RECs, the Applicant (Eligible Entity) shall quote the unique Registration Number assigned to it by Central Agency at the time of registration. Note :- Injection shall include self-consumption of the Captive Power Plant if it is separately metered and measurable. STEP 2: The Central Agency shall assign an acknowledgement number to the Eligible Entity for its registered application request for issuance of Renewable Energy Certificates, referring to Unique Number assigned to the concerned Eligible Entity at the time of registration, for any future correspondence. STEP 3: After receipt of application in physical form for issuance of renewable energy certificates from the Eligible Entity, the Central Agency shall undertake a preliminary scrutiny within 2 working days to ensure that the Application Form is complete in all respect along with necessary documents and applicable fees and charges. As part of preliminary scrutiny, the Central Agency shall ensure fulfilment of following conditions:

The application is made in the format specified by the Central Agency from time to time. The status of Accreditation of the Eligible Entity with the Central Agency has not expired. The status of Registration of the Eligible Entity with the Central Agency has not expired. The duly certified Energy Injection report by the concerned State Load Despatch Centre is attached for the same period for which application is made towards issuance of Renewable Energy Certificate by the Eligible Entity. The application is accompanied with fees & charges.

STEP 4: After conducting the preliminary scrutiny, the Central Agency shall intimate in writing to the Applicant for submission of any further information or seek clarification, if necessary, to further consider the application for issuance of Renewable Energy Certificates or reject application. The reasons for rejecting the application for issuance of Renewable Energy Certificates shall be recorded and intimated to Applicant in writing within 2 working days from date of receipt of the completed application by Central Agency. STEP 5: While considering any application for issuance of Renewable Energy Certificate, the Central Agency shall verify and ascertain availability of following information:

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Verification of the time period for which the Central Agency may have already issued Renewable Energy Certificates to the concerned Eligible Entity. Verification of Renewable Energy Certificates claimed by the Eligible Entity from the duly certified Energy Injection Reports by the concerned State Load Despatch Centre in respect of concerned Eligible Entity. Details of fee & charges made for issuance of certificates. Confirmation of Compliance Auditor report, if any.

STEP 6: The Central Agency shall only issue Renewable Energy Certificates to the Eligible Entity after confirming, the claims made by the Eligible Entity, with the Energy Injection Report submitted by the SLDC. In case of any discrepancy, in the Energy Injection Report enclosed by the Eligible Entity along with Application and regular Energy Injection Report received by Central Agency from concerned State Load Despatch Centre, the information contained in regular Energy Injection Report furnished by concerned State Load Despatch Centre shall be considered as final and binding for the purpose of issuance of Renewable Energy Certificates. However, in case energy units reported under Energy Injection Report by concerned State Load Despatch Centre exceed that claimed by Eligible Entity for same period then, Central Agency shall seek necessary clarification from concerned State Load Despatch Centre before issuance of the Renewable Energy Certificates. The denomination of each REC issued would be as per the CERC REC Regulations and 1 REC would be taken as equivalent to 1 MWh of energy injected into the grid. It is clarified that any fractional component of energy as per the Energy Injection Report can be accumulated and would be considered for issuance of RECs as per the CERC REC Regulations. STEP 7: The Central Agency shall issue the Renewable Energy Certificates to the Eligible Entity within fifteen (15) days from the date of receipt of application form along with complete information necessary for processing of application for issuance of RECs. STEP 8: In case the Eligible Entity is not fulfilling any of the conditions mentioned under Step-5 and fails to provide necessary information/clarification in the matter within stipulated timeframe, the Central Agency may reject the application and shall intimate to the Eligible Entity, in writing, the reasons for rejecting the application for issuance of RE certificates. STEP 9: Upon issuance of RE Certificates to Eligible Entity, the Central Agency shall also intimate about such issuance to the concerned State Agency.

Redemption of REC
STEP 1: The total quantity of Certificates ('Solar' and 'Non-Solar' separately) placed for dealing on the Power Exchange(s) by the eligible entity shall be less than or equal to the total quantity of valid Certificates held by the eligible entity

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as per the records of the Central Agency. The renewable energy certificates shall be dealt in the Power Exchange within the price band as specified by CERC from time to time. The Eligible Entity shall place for dealing of renewable energy certificates; both 'Solar' and 'Non-Solar' Certificates, on any Power Exchange authorised to deal in renewable energy certificates by CERC. The total quantity of Certificates ('Solar' and 'Non-Solar' separately) placed for dealing on the Power Exchange(s) by the eligible entity shall be less than or equal to the total quantity of valid Certificates held by the eligible entity as per the records of the Central Agency. The renewable energy certificates shall be dealt in the Power Exchange within the price band as specified by CERC from time to time. STEP 2: During the time the bidding window opens in the Power Exchange, the eligible entities shall place their offers and the buyers1 shall place their bids through the trading platform of the respective Power Exchange. STEP 3: On closure of the trading window, the Power Exchange(s) shall send the maximum bid volumes for each of the eligible entity, which has placed offers on that Power Exchange, to the Central Agency for verification of the quantity of valid RECs available with the concerned eligible entity for dealing on the Power Exchange(s). STEP 4: The Central Agency shall check the combined maximum bid volume in the Power Exchange(s) for each eligible entity against the quantity of valid RECs for that entity for both 'Solar' and 'Non-Solar' Certificates. The Central Agency shall send a report to Power Exchange(s) confirming the availability of the valid RECs with the eligible entity. In case the combined maximum bid volume placed for dealing in the Power Exchange(s) exceeds the quantity of valid RECs held by the eligible entity as per the records of the Central Agency, then, the Central Agency shall advise the Power Exchange(s) to exclude such bid(s) while working out the Market Clearing Price and the Market Clearing Volume. STEP 5: The Power Exchange(s) shall work out the Market Clearing Price and the Market Clearing Volume taking into account the advice received from the Central Agency and send the final cleared trades to the Central Agency for extinguishing of the RECs sold in the records of the Central Agency. The certificates will be extinguished by the Central Agency in the 'First-in-First-out' order.

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4.2 Different Project Models of REC


Model 1: Sale to Distribution Licensee and REC is availed

Project

X Units Generated

PPA with Discom at APPC rate

X/1000 = REC Availed

Power Sale through Grid

Visit website of IEX and pxil to see analyse the pattern of sale of solar RECs and the trade rate.

Sell of REC to obligated Entities Through IEX or PXIL

In this Model you can earn in three ways 1) APPC rate per unit which is different for all states. In Gujarat the rate is Appx `3. 2) REC sale - `9300 to `13400 3) CDM Benefit 5 to 8 Euros per every 1MWH produced. So per unit you can get (Till 2017) Minimum/Unit = 3(APPC) + 9.3(REC) + 0.35 (CDM) = 12.65 Maximum/Unit = 3(APPC) + 13.4 (REC) + 0.56(CDM) = 16.96

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Model 2: Built Operate and Sale to 3rd Party with REC availed 3rd party could be industry or agency.

Project

X Units Generated

PPA with Discom at 3rd party rate

X/1000 = REC Availed

Power Sale through Direct mains

Sell of REC to obligated Entities Through IEX or PXIL

In this Model you can earn in three ways 1) 3rd Party PPA rate per unit Assumed to be `5.30 2) REC sale - `9300 to `13400 3) CDM Benefit 5 to 8 Euros per every 1MWH produced. So per unit you can get (Till 2017) Minimum/Unit = 5.30(PPA) + 9.3(REC) + 0.35 (CDM) = `14.95 Maximum/Unit = 5.30(PPA) + 13.4 (REC) + 0.56(CDM) = `19.46

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Model 3: Captive use and REC availed Case Considered: Industry in Gujarat using Power of GEB (Gujarat electricity Board) and feeds the RE generated power in Grid

Pays APPC rate for X-Y units


DEVELOPE R

Deducts Y Units from Generated X units

Y Units Usage

GEB

REC Availed and Sold

Produces X amount of Units through

If you need a detailed report on any of these models with figures on any scale of project than mail us
info@bepmax.com

In this Project you can have lots of benefit 1) You can get REC benefit or fi you are obliged entity than you can used it for your own. 2) You can deduct your own usage from what u produced, so on each unit deduction you will get profit equal to Present rate of electricity for Commercial/Industrial which in any state will not be less than 7. 3) As explained in Above Flow chart the remaining unit after deduction can be traded (Only After having PPA with DISCOM) at an APPC rate. 4) You can get CDM benefit

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BEPMAX SOLAR (P) Ltd


Energizing Nation Enligtening LIFE

Turnkey Projects Solar project Consultation Feasibility Analysis Financial Analysis

Project Registration Land Consultation Permission works

EPC services and Consultation

Project Laision work

Finance
Debt Consultation and fund raising consultation Debt Available at 7 to 9 % of annual interest

Small Scale Solar


Supply, design, erection and Consultation for subsidy for small scale solar PV systems

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A letter from Managing Director


Energy and Energy production has a wide playing role in todays life. It relates Human day to day life as well as countrys/states facilities as well as plays an important in financial cycles and creating large manpower requirement and thereby reducing poverty. Commenting on clean energy, I recommend that this field is the future of tomorrows world. Most of the countries are using renewable sources as 15% of their total energy requirement. The day is not far for reaching the same at 50%. Investment & Adaption of Solar is a profitable approach with your dedication towards environment and helping keeping the Globe clean. We are working in many verticals for solar industry which includes EPC services, Project Consultation, Finance Consultation and also in nearby future we would be in a new vertical called Project developer. In and All, We Here are with a motto Energizing Nation, Enlightening LIFE .

Bhupesh K Shah MD & CEO Bepmax Solar Pvt Ltd md@bepmax.com info@bepmax.com

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A letter from Vice-President


RENEWABLES, it sound very onomatopoetic and Pleasant as there is a work NEW & ABLE involved in it. New and everlasting. Work-ABLE, feasi-ABLE and Sustain-ABLE adding up. Who might have thought before 18th century that people would invest in Sun? But today Solar is the fastest growing Energy sector. In addition of investment you are helping nature. In this Reference manual PHOTOVOLTAIC LOOKOUT we have tried to put a light on solar business by adding many brief topics of this industry. No-doubt its the best investment industry in which you can have long returns and a tag of Producer of Clean energy I am also thankful to Indian Government for aggressively taking this field ahead and we expect more from you. Also I expect more policies from other states like Gujarat. We are Dedicating this to the people and their effort for making solar successful. Cheers to all guys who is in industry and also to those who want to be part of Industry. Lets build, Lets earn and lets help our environment and keep the beauty of Nature alive. Also I would like to thanks my M.D. Mr.Shah for Motivating me towards this field and making this happen

Rishi R Patel Vice president-Operations Bepmax Solar Pvt Ltd Editor and Compiler of Photovoltaic lookout rishi@bepmax.com info@bepmax.com

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Bepmax Solar Pvt Ltd


Contact us at: +91-9825050867 +91-9428503868 info@bepmax.com www.bepmax.com

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