Solar Energy Industry Assessment

Industry Assessment for
Solar Energy Market

A basic introduction to the
industry...
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Phone: +91 9000345588
efficientcarbon@gmail.com
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Solar Technologies
There are two primary ways of using Solar Energy for different applications
Power
Generation
Solar
Photovoltaic Lighting
(SPV)
Solar Water Pumping

Technologies
Cooking
Solar Thermal
(CSP)
Water Heating
Energy Source Technology Selective Applications
www.efficientcarbon.com
Phone: +91 9000345588
gogreen@efficientcarbon.com
Industry is pursuing a host of promising
technologies in Photovoltaics...
Concentrated
Thin Films Crystalline Silicon
Photovoltaic
Market Material Structure
Ground Roof Amorphous CdTE/ Mono- Multi-

Organic
Mounted Mounted Silicon CIGS Crystalline Crystalline
Setting up a solar PV manufacturing unit can cost around Rs 90 crores for a

25MW capacity but the figure can vary depending on govt subsidies, locations,
suppliers, etc.,
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...and in Concentrated Solar Power (CSP)
Trough Tower Linear Fresnel Dishes
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Markets that one can explore
Utility Commercial Residential
Manufacture of Photovoltaics and CSP Equipment
Project Execution in MW Rooftop Solar Grid

Utility Scale Power Plants scale Connected PV
EPC services for Solar Power Rooftop Solar Grid Retail applications –
Plants Connected PV lighting, heating, cooking
Solar for lighting - Off grid applications for

streetlights rural areas
Captive Solar for specific Public and Home lighting –

applications – drying, cooking rural & urban
Trading of Solar equipment – imported or Indian
Manufacture/Trading of Anciliary equipment – Balance of systems, trackers, etc.,
Phone: +91 9000345588
Classifying various applications
Solar PV System Size
Medium systems
Small Systems (<10 KW) (10 KW to 1MW) Large Systems (>1MW)
Urban residential,
Rural Off grid lighting, Urban
Roof top Commercial, Grid Connected Plants
and Residential
Industrial applications
System Type
Industrial applications,
Rural Off grid lighting, Urban Village Electrification,
Ground Based Grid
and Residential Industrial applications
connected Plants
Irrigation pumps, Public area

Near Application Cell Towers
applications
Typical rule of thumb for Solar installations other than at utility scale is Rs. 3 Lakhs for
a 1 KW system. This can vary by (+/- ) 25% depending on the margins, sourcing of
panels, scale, etc.,
Phone: +91 9000345588
The Indian scenario
• The entire public policy on Solar for India is dictated by the Jawaharlal
Nehru National Solar Mission launched in 2009.
• It talks about achieving 20,000MW of energy generation through Solar

in three phases:
– 1000 MW by 2013
– Additional 3000 MW by 2017
– Finally reach 20,000 MW by 2022
• For this to become a reality, significant investments – to the tune of Rs.

250 billion – are required over the next 2-3 years.
• In January 2011, NVVN (NTPC Vidut Vyapar Nigam Ltd) selected 37

companies to set up solar power projects to the tune of 704 MW for
phase 1 of JNNSM.
• Rajasthan accounts for 81% or 571MW of the entire capacity above.

Rajasthan, Gujarat and AP are now the favoured destinations of project
developers.
Phone: +91 9000345588
The Indian scenario
• Prices paid by the grid for such projects typically range from
18.45/KWH to 10.95/KWH for Photovoltaic generation based on
bidding.
• On another scale Rooftop Solar projects, both feeding into the grid
type and off grid type have huge potential.
• Part of JN National Solar Mission with objectives

– 10 MW Kitty Size as of now
– Individuals 1 KW array size
– Organizations 100 KW array size
• Central Financial assistance of INR 75 per Wp for battery less and

INR 90 per Wp for battery based systems.
• Off grid applications too hold huge potential because of around

1lakh villages without electricity. – Need a good model in this area.
Phone: +91 9000345588
Typical finances of a 1MW PV plant
• Energy Generation: 1.5 Million KWH/MWp /year
• PPA Rate: Rs. 18.45 / KWH – 25 years
• 1st year Revenue/MW: Rs 2.76 Cr
– Subsequent 25 years as per module degradation rate
• Capital Cost: Rs.13.5 Cr + Land= Rs.14 cr Appr

• 70:30 D/E Ratio assumed
• Debt component: Rs.11.9 Cr
– Terms 11.5%, 10 years with 1 year moratorium
• Interest – 1st year: Rs. 1.37 Cr

• O&M / Misc: 12 Lacs typically
• Margin After Tax: 20%
General RoE ranges from 18 to 20% based on moratorium, CER, interest,
transmission line etc
Phone: +91 9000345588
Financing the projects
Commercial
Banks
IREDA, NABARD,
Public Markets
NHB, SIDBI, etc.,
FIIs Project PFC and other FIs

Financing
Private Equity /
VCs / Angels Internal reserves
International
Govt lending /
development
subsidies banks / agencies
Institutions are ready to fund projects that show a good returns and that are
backed by sound companies with experience in delivering large projects on
time and satisfactorily.
Phone: +91 9000345588
Factors for Success through Execution Excellence
• Project Management
– Knowledge of Indian conditions
– Land acquisition and development
– EPC Contracting
– Tax / Duty implications
– Cost Control / Local Contracting
• On Time Delivery
– EPC Monitoring
– Long lead time Items
– Inverter and Cable Trenching
– Handling and Logistics
– Commissioning Plans
• Performance
– Site Survey and Analysis
– Civil / Structural Design
– Optimized Array Configuration
– Power Output / Monitoring
Phone: +91 9000345588
The Key Dynamics
TECHNOLOGY
POLICY FINANCING CUSTOMERS
EXECUTION EXCELLENCE
Typically we see good policies, project plans and funding plans given but the
execution on the ground is delayed due to host of issues like land acquisitions,
financial planning, technology issues etc.,.
Phone: +91 9000345588
How can we help you in this
market?
EfficientCarbon can provide you with comprehensive research on the Solar
Industry in India and give you its understanding, expertise and contacts to
help you flourish in this industry. We would start by typically answering the
following questions…
www.efficientcarbon.wordpress.com
Phone: +91 9000345588
efficientcarbon@gmail.com
Questions to Answer
• Is this the best time to enter the Solar market in India?
– If so, what is the core business model (mfg, trading, EPC, anciliary, etc.,)
• What should you consider before you make a foray?
– Capital and Operating Costs
– Locations
– Technology
– Govt Policies
– The National Solar Mission
• Who are the already existing players and what is their might?
– Competition analysis
– Alternate, substitute technologies
• What are the detailed costs and returns?
– Capital costs
– Operational costs
– Financial modelling
– Financing options
• What are the govt policies regulating the solar industry?
Phone: +91 9000345588
Questions to Answer
• What should I consider while preparing Pre-Feasibility and Feasibility
reports?
• What are the product/project development stages?
• Who and where are the suppliers?
– Raw materials
– International trade policies, etc.,
• What are the entire gamut of opportunities available in the ancillary
industries supporting the Solar Industry?
– EPC
– Inverters
– Batteries
– Tracking systems
– Lighting,
– Servicing, etc.,
EfficientCarbon would help you answer these questions through primary and
secondary research and put you in direct presence of collaborators, funding
sources, existing players in the market, to help you make more informed
decisions etc.,
Phone: +91 9000345588
Contact us
Harsha: +91 9000345588
Rahul: +91 9948092900
Office: +91 40 40128206
www.twitter.com/efficientcarbon
www.facebook.com/efficientcarbon
Phone: +91 9000345588
"Sustainability is not only absolutely necessary considering the situation our
planet is in, we as companies are also overdue to take responsibility. We
can't wait for governments. Companies have to lead the way…
- Jochen Zeitz, CEO, Puma
Thank You
Phone: +91 9000345588

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Solar Energy Industry Assessment

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Industry Assessment for

Solar Energy Market

Solar Water Pumping

Energy Source Technology Selective Applications

Ground Roof Amorphous CdTE/ Mono- Multi-

Setting up a solar PV manufacturing unit can cost around Rs 90 crores for a

Trough Tower Linear Fresnel Dishes

Project Execution in MW Rooftop Solar Grid

Solar for lighting - Off grid applications for

Captive Solar for specific Public and Home lighting –

Trading of Solar equipment – imported or Indian

Manufacture/Trading of Anciliary equipment – Balance of systems, trackers, etc.,

Irrigation pumps, Public area

• It talks about achieving 20,000MW of energy generation through Solar

• For this to become a reality, significant investments – to the tune of Rs.

• In January 2011, NVVN (NTPC Vidut Vyapar Nigam Ltd) selected 37

• Rajasthan accounts for 81% or 571MW of the entire capacity above.

• Part of JN National Solar Mission with objectives

• Central Financial assistance of INR 75 per Wp for battery less and

• Off grid applications too hold huge potential because of around

• Capital Cost: Rs.13.5 Cr + Land= Rs.14 cr Appr

• Interest – 1st year: Rs. 1.37 Cr

FIIs Project PFC and other FIs

POLICY FINANCING CUSTOMERS

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