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Solar system can cut power bill by 95%: Study
Residents owning rooftop solar systems in the national Capital could save up to 95 per cent on their electricity bills according to an independent study released by the Council on Energy Environment and Water (CEEW). The study also revealed that residents buying power from a community rooftop solar PV plant, via a subscription plan, could also save up to 35 per cent on their electricity bills.
The study was conducted by CEEW in collaboration with BYPL in the discom's area of East and Central Delhi. The report also said solar system costs have declined by 27 per cent in the last three years, making rooftop solar a lucrative investment for commercial and industrial consumers. However, despite a 30 per cent Government subsidy, households have installed only about 400 MW of rooftop solar across the country (and 60 MW in Delhi), it said.
It said the key challenges for residential consumers include high capital cost, lack of access to finance, lack of consumer awareness, issues with roof ownership and access and a roof lock-in period of 25 years.
P R Kumar, CEO of BYPL said that BYPL is not only committed to promote rooftop solar but is also at the forefront of championing its beneficial impact on the environment and on electricity bills. “This association with CEEW is yet another testimonial to these efforts and promises to further accelerate them. Adoption of rooftop solar will also help us to manage the peak demand and fulfill our renewable purchase obligation (RPO),” he said.
“A large portion of our BYPL consumers are in the residential segment. Through the CEEW-BYPL collaboration, we are happy to have created 'fit-for-purpose' business models that will help to lower electricity bills in this segment,” he said.
A senior BSES official said the proposed business models could extend the rooftop solar market to all residential consumer segments across India. “The models highlight options to spur demand for rooftop solar among residential consumers including easy financing and solar subscription plans of varying durations. The on-bill financing model allows consumers to pay the cost of the rooftop solar system through savings on electricity bill over duration of 7-8 years,” he said.
BSES Yamuna Power Limited (BYPL) is a joint venture between Reliance Infrastructure Limited and Government of NCT of Delhi. with a 51:49 per cent shareholding.
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