With the new scheme in Andhra Pradesh which is promoting solar power, a solar rooftop system of 1 KW will cost Rs. 50,000. The government in its move is set to encourage house owners to install such systems as per reports.
A 30% subsidy will be given by the center and 20% by the state government for the same.
A two-day exhibition will be organized on August 24 which will have vendors and equipment manufacturers of solar power systems. Solar PV (Photovoltaics) converts sunlight directly into electricity by utilizing the photoelectric effect. Read more on it here.
The State Government also finalized the net metering policy two months ago.
M Kamalakar Babu, managing director of New and Renewable Energy Development Corporation of AP, said for every KW of power installed on the roof will generate 1,000 to 1,200 units a year, with the cost of a system ranging from Rs one to Rs 1.10 lakh per KW. In other words, domestic consumers will have to pay half of this cost to set up the unit, which will have a payback time of fewer than seven years, he told media persons here today.
Excess power generated by the system can be sold to the grid for about Rs 3 a unit, he pointed out.
MNRE is providing financial help to the off-grid solar projects through its capital subsidy scheme. Read more on it here.