Role of Co-Operatives in Promoting Solar Power Projects in India

Abstract

Solar energy is the genesis for all forms of energy in the world. It is the only perennial source in India, as the country is located in the tropical zone of the earth. This study proposes to assess the commercial viability and the carbon abatement of a solar power project so as to ensure energy sustainability. It is confined to the solar photovoltaic (PV) project as the generated power can be converted into monetary values. The commercial viability has been measured using the benchmark rate of Ministry of New and Renewable Energy, Tamil Nadu Electricity Regulatory Commission and Tamil Nadu Generation and Distribution Corporation. It is witnessed from this study that solar power is highly viable for both domestic and non-domestic promoters. The outcome reveals that the 1 MW solar PV project for Tamil Nadu is highly viable for industrial and commercial promoters owing to drop in initial investment and an increase in power generation. Moreover, solar would be a great mitigating factor for carbon footprints. For instance, the 1 MW project is expected to abate an average of 1,283 and 32,087 tonnes of CO2 annually and its lifetime respectively. Therefore, the contribution of co-operatives is immense in advocating this perpetual source of energy to curb carbon emissions. Consequently, energy co-operatives should be promoted in India as in other industrialized countries.