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India aims for half of state-run fuel stations to be solar-powered in five years ---------------------------------------------------------------------- India aims for 50% of fuel stations owned by public sector oil companies to be operated by solar power within five years under the government's green energy drive, its oil minister said on Tuesday. Dharmendra Pradhan said India's three state-backed fuel retailers Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum, which operate about 63, 150 fuel station across India, are moving to deploy solar panels across their operations. They have currently installed a combined 270 megawatts (MW) of solar power capacity and will add 60 MW more capacity in the coming year, Pradhan said. With government encouragement, Indian oil and gas companies are turning to investing in green energy such as renewables, biofuels and hydrogen to reduce the country's carbon footprint. "The oil and gas public sector undertakings are increasingly evaluating new opportunities in the solar and renewable energy space for diversification, " Pradhan said at the World Solar Technology Summit of the International Solar Alliance. India imports over 80% of its solar cell and module requirements from China, as domestic manufacturers have struggled to compete with cheap Chinese modules. However, Pradhan said companies have expressed interest in setting up new manufacturing capacity in India amounting to 10 GW of solar power equipment. Prime Minister Narendra Modi wants companies to procure most of their equipment from local industry to boost the Indian economy, which has now been hit by COVID-19. Asia's third-largest economy has set a target to have a renewable energy capacity of 175 GW by 2022. That would include 100 GW of solar capacity, up from around 35 GW currently. Regards Future Green Power Solutions Pvt. Ltd 9587700773
COVID-19 provides opportunities for domestic solar module manufacturing ---------------------------------------------------------------------- The supply disruption from China due to the COVID-19 pandemic and subsequent decline in domestic solar capacity addition offer a golden opportunity to ramp up local manufacturing of solar modules and cells, according to industry experts. However, the industry feels there is an urgent need for a national vision policy for local solar modules manufacturing as well as ancillary products, in line of solar power generation target of 100 gw by 2022 under National Solar Mission. Future Green power Solutions pvt. ltd. 9587700773
Indian solar power cheap, but much higher than the Middle East, shows report ----------------------------------------------------- Although India's solar tariff rates are amongst the lowest in the world, they might not be able to compete with those of the Gulf countries which boast of some the cheapest projects in the world, said the Institute for Energy Economics and Financial Analysis (IEEFA). . Tariffs in the Gulf, which has strong solar radiation and lower costs are less than a rupee per unit, making them much lower than India. “The economic, tax and financial makeup of each country play a direct role in determining tariffs, " said Vibhuti Garg, energy economist at IEEFA. "It would be extremely difficult for the Indian market to replicate the combination of factors leading to low solar tariffs in the Gulf region, " she added. The Gulf region has achieved tariffs in the range of $1.35-1.80 cents/kWh, or Rs. 0.99 per unit. In comparison, India's lowest bid was achieved in July earlier this year at Rs. 2.36 a unit. Factors in UAE and Saudi Arabia such as long-dated loans at low-interest rates, lack of corporate taxes, negligible duties on equipment, low or negligible land costs for solar projects, and lower return on equity (ROE) expectations are responsible for the record low rates, a report by IEEFA and JMK research said.Garg, who was one of the authors of the report, said that if the government continues with its proposal of levying a permanent basic customs duty on solar imports from China, the tariff differential for Indian projects will widen further. “Indian policy makers want developers to achieve tariffs on a par with those discovered in the Gulf bids, but such low tariffs are neither achievable nor sustainable in India under the current conditions, " she said. However, IEEFA predicts the rates in India to fall between 5 to 10% on average over the coming decade due to technological advances and economies of scale. Earlier this week, Portugal signed the cheapest tariff anywhere in the world, with $1.32 cents per kWh for a 700 MW project. Regards Future Green Power Solutions Pvt. Ltd
View: Cleaner, and now cheaper, solar power beats coal -------------------------------------------------------------------- The Covid crisis has diverted attention from a major breakthrough that should leave all smiling. The latest auction for 400 MW of solar power, including storage, has been won by ReNew Power with a levelised tariff of Rs 3.52/unit over 15 years. The equivalent thermal power tariff would have been closer to Rs 4.5/unit. Solar energy has beaten coal-based power hollow, and would do so even if taxes and cesses on coal were lifted. The bulk of future power generation can be solar without subsidies. < .. Read more at: utm_medium=text& utm_campaign=cppst
Future Green power Solutions Pvt. Ltd ---------------------------------------------------------- Happy Independence Day In the Indian tradition, Sun is the source of all forms of energy: PM Modi The world must turn to Sun to power our future: Convergence between economy, ecology and energy should define our future: PM Modi Vast majority of humanity blessed with generous sunlight round the year yet many are without any source of power: We want to bring solar energy into our lives and homes, by making it cheaper, more reliable and easier to connect to grid: India has set a target of adding 100 GW of solar power by 2022:
Do solar panels increase home value? ------------------------------------------------------- Short answer? Yes, installing solar panels will increase the market value of your home by at least the cost of the system. Per the National Renewable Energy Laboratory, every $1 of savings generated from a solar energy system will add $20 to your home’s market value when you decide to sell. Not only will you realize an increase in the value of your home, a solar energy system will help sell your home 20% faster than residences without solar panels. Bill Gates said it best: “It’s really kind of cool to put solar panels on your roof.” — Bill Gates Solar Panels are Adding Value to Homes Solar panel owners are seeing an increase in their property values over comparative homes in their neighborhood. The main reason for this increase in market value is that homes with solar panels offer a definite financial benefit to future owners. Potential buyers are encouraged to purchase homes with an installed solar energy system because of: The ability to replace your electric bill with a much cheaper and cleaner option The reduction of our carbon footprint Seller’s Incentives for Investing in Solar Panels An average increase in the resale value of a home with a solar energy system equals $4, 020 for each 1kW of panels installed. Your property value will increase with a scaled up solar energy system. For example, a 5kW solar panel installation will add an average of $20, 100 to the market value of a mid-sized home. In California, a 3.1 KW solar panel energy system has the potential of adding an average of $12, 462 over the price of comparative homes in a middle-class neighborhood. A home with a solar energy system will catapult your property’s value ahead of the similar homes. As a future seller, you will have huge advantages. Demand a higher asking price for your home Reduce exposure time on the market listings (sell your home much faster) Receive close to 100 percent of your solar panel investment upon sale of home Factors determining your home’s increase in market value at the time of sale: Location of your home Size of your solar energy system Age of your solar panels and inverter Efficiency conversion rate of your solar energy system Existing market value of your home Buyer’s Incentives for Buying a Home with Solar Panels A seller’s incentives for investing in solar panels are parlayed to a future buyer because increases to a property’s market value only go up as electricity prices rise. In turn, the buyer’s future advantages of the solar energy system rise as well. With a customized solar panel installation, you could potentially receive a 200% return. You will be hard pressed to find another financial investment matching these same returns: Day 1 savings on your electric bill Yearly savings throughout the lifetime of your solar panel system – 25 to 30 years No down payment necessary for your solar energy system