Case Study of Solar Power Plant Installation in Housing Society

Solgen Greentech is one of the leading companies in the solarpv EPC and installation sector. Our expertise lies in installing different types of solar panels for residential purposes.

Our professionals are able to design and build on-grid and off-grid solar power plants. Besides, we have helped customers with hybrid solar power plants.

In recent years, the Housing Society in Mumbai has focused on installing solar panels for several reasons-

• Higher rate of electricity in Mumbai
• ROI is 3 to 4 years
• Return on investment is much more than FD return

 Effective Solar PV installations saves electricity cost

We would like to share an actual example of solar pv installation done at Lodha Aurum in Kanurmarg, Mumbai. This is a case study for typical housing society (specially high rise) in Mumbai.

Society had decided to go with solar pv installations in the month of June-2022. The monthly consumption of the society at that time was around 5900 kWh per month. The electricity cost in that month was Rs 105,000/-. The cost of solar installation decided was around Rs 23.22 Lacs.

The rate of electricity for the society was Rs. 17.8 per kWh (unit). The society had decided to install A 43kWp solar power plant. The plant went live on August-2022.

After installation, we took reading for the month of October-2022. The average unit generated by solar power palnt was almost 4000 units per month. Thus, the housing society saved Rs 71,200/- (4000 units x 17.8 Rs per kWh) in the month of October-2022. If we extrapolate this savings in a year, it will save almost Rs. 8,52,000/- per month for a society. Hence, society will get its money back in just 3 years in terms of savings. The life of solar modules are 25 years. It took 3 years to recover its cost hence the society will get free electricity worth Rs. 8.52 lacs every year for next 22 years. You could imagine the total savings by the society.

Imagin that the society had not decided to go with installation of solar power plant ! They would have put this money in bank account and earned interest of 6%. So, yearly interest for 23.22 lacs were 1.39 Lacs. However, by installing solar power plant, society has saved 8.52 Lacs which is almost 36% return on investment after recovering initial cost.