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1 MW Solar Power Plant

Provide Solar Panels And Renewable Energy Products.

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1 MW Solar Power Plant

High-capacity solar systems exceeding 100 kW are commonly referred to as Solar Power Stations, Energy Generating Stations, or Ground Mounted Solar Power Plants.

A 1 MW solar power plant, with a capacity of 1 megawatt, is capable of powering a commercial establishment independently. This type of solar utility farm typically occupies 4 to 5 acres of land and generates approximately 4,000 kWh of cost-effective electricity each day.

Additionally, any surplus energy produced can be sold to the local utility company through a net metering arrangement.

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The Working of a 1 MW Solar Power Plant

Solar photovoltaic panels function consistently across all residential and commercial setups, regardless of the type or cost of a 1 MW solar power plant. These panels absorb sunlight to produce clean solar electricity. Each panel is composed of multiple strings of solar cells made from silicon alloys, which release electrons in response to the photons present in sunlight, resulting in a change in their electrical field.

This movement of electrons generates a flow of direct current, known as the ‘Photovoltaic Effect.’ The energy produced travels through a series of wires to an inverter, where it is converted into AC electricity, suitable for powering your electronics and appliances. To achieve optimal performance, careful consideration of the solar panel arrangement is crucial, including proper wiring, angle, and orientation. This ensures maximum sunlight exposure, allowing the panels to deliver their highest output during peak sunlight hours.

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1 Megawatt Solar Power Plant Cost & Specifications

S.NO. Particulars Estimated Cost
1. Solar Panels 3 Crore
2. Solar Inverter 1 Crore
3. Combiners + Junction Boxes 20 Lakh
4. Protective Gears Arrangement 10 Lakh
5. SCADA & Data Logger System 7 Lakh
6. Land Bank *5 Acre
7. Erection of Project 50 Lakh
8. Total Project Cost 5.00Cr. (Approx.)

On average, the cost of a 1 MW solar power plant in India ranges from Rs 4 to 5 crores. Several factors influence this initial investment. The primary component of a solar power plant is the solar panel, which comes in various types. Crystalline solar panels, including monocrystalline and polycrystalline options, are commonly used in most solar energy systems. Monocrystalline panels typically offer higher efficiency, which can increase the overall cost of your solar power plant. Additionally, consumers must consider various other factors to assemble the most suitable solar setup for their business, ensuring it meets their specific energy needs and budget.

Note: The figures provided are for illustrative purposes only and offer a general estimate of potential costs. To determine the precise cost and profitability of a 1 MW solar power plant, an on-site solar assessment and a customized quote from a professional solar company are essential.

Key specifications of a 1MW solar power plant

Key Components The components of a solar power system include solar panels, a solar mounting structure, a solar inverter, and optional solar batteries. Additionally, the system requires a balance of components, such as cables, fuses, MCBs, and distribution boxes.
Energy Output Curious about the electricity production of your 1 MW solar power plant? It can generate approximately 4,000 kWh of electricity per day, 120,000 kWh per month, and 1,440,000 kWh annually.
Area Required A 1 MW solar power plant typically requires 4 to 5 acres of land.

Different Types of 1MW Solar Power Plants

There are three types of solar plants that operate on the same principle of the ‘Photovoltaic Effect.’ Each type requires a unique combination of solar components, which influences the cost of your 1 MW solar power plant in India. Your location, monthly energy needs, and available space will help determine which of these systems is best suited for you, maximizing your returns on solar investment.

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On-grid 50kW solar system (regulated under the net metering mechanism)

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Off-grid 50kW solar system (suitable for remote locations)

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Hybrid 50kW solar system (connects to the grid and also includes solar batteries)

1 MW On-grid Solar Power Plant Specifications

In an on-grid framework, the cost of a 1 MW solar power plant is the lowest compared to other types. This is primarily because the setup requires only solar panels and solar inverters as key components. Being on-grid means your 1 MW solar power plant is connected to the government grid and operates under the net metering system. This system allows you to sell any unused solar power back to the utility company, earning solar credits and creating a source of passive income. Additionally, when your solar generation falls short, you can draw power from the grid to meet your energy needs.

1MW Off-grid Solar Power Plant Specifications

An off-grid framework operates like an independent solar power station, providing free electricity to power your business while storing surplus energy for later use. In addition to solar panels and an inverter, a solar battery bank is essential for capturing unused power and creating a valuable energy reserve on-site. While incorporating solar batteries does increase the cost of a 1 MW solar power plant, the benefits often outweigh this investment. With solar batteries, your business can thrive in remote areas where grid access is expensive or nonexistent. By reducing your reliance on the government grid, you can also eliminate electricity bills altogether.

1MW Hybrid Solar Power Plant Specifications

A hybrid framework is the ideal solution to unlock your location’s full solar potential and maximize the benefits of this green technology. This type of solar plant combines the advantages of both on-grid and off-grid systems. With a hybrid solar plant, you can enjoy the benefits of net metering while also having the reliability of solar batteries. This setup enables your 1 MW solar power plant to provide complete energy independence and ensure a continuous supply of electricity, eliminating downtime for your business.

Types of Investment Models

If you’re considering a 1 MW solar power plant for your business or industry, you can choose to invest in your plant through one of two models. Each option offers distinct advantages to meet your specific energy needs and financial goals.

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CAPEX Model (One-Time Investment)

In the CAPEX or one-time investment model, the consumer opts for an upfront capital expenditure. By paying the full cost of the 1 MW solar power plant to your solar energy company, you become the owner of the system and all the energy it generates. As the owner, you enjoy free, clean electricity for the next 25 years or more. This investment model is particularly well-suited for systems of 100 kW or less, catering to both commercial and residential applications.

OPEX or PPA Model

The cost of a 1 MW solar power plant in India in 2023 can be daunting for many commercial establishments. However, a practical way to transition to solar energy while securing a high-capacity plant is through third-party financing options. In this model, you only need to cover the operational expenditures of your solar power plant while reaping its benefits. A solar energy company will install your plant at no upfront cost under a Power Purchase Agreement (PPA) lasting 10 to 25 years. Once the installation is complete, you pay a monthly rate per unit of energy consumed, which is typically lower than the grid tariff.

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Income From 1MW Solar Power Plant

Several factors influence the income generated by your 1 MW solar power plant. Key elements include your annual power consumption, the daily energy output of your solar panels, and the purchasing policies and rates established by the government. This income, or return on your solar investment, typically allows you to recover the initial cost within 6 to 8 years, which is known as the average payback period.

S.NO. Particulars Description
1. Average Daily energy output 4000 kWh
2. Annual energy output 4000×365=14,60,000 units
3. Govt. pays per unit 3.85 ₹/unit [According to Central Electricity Regulatory Commission (CERC)]
4. Total income over the year ₹56,21,000
5. Net income over the year ₹43,51,000 (Total income – Annual Maintenance Cost)

1MW Solar Power Plant Project Report

Here is a project report for a 1 MW solar power plant that outlines an estimated series of projections for this system capacity.

S.NO. Particulars Description
1. Power Plant Capacity 1-megawatt
2. Annual power generation 14.60 Lakh (On Average)
3. Degradation over the first decade (1 to 10 years) 0.05% per year
4. Degradation from 11 to 25 years 0.67% per year
5. Debt Percentage 70%
6. Equity Percentage 30%
7. Rate of Interest (Indian) 13.0%
8. Rate of Interest (Foreign) 10%
9. Repayment Period (Indian) 11 years
10. Repayment Period (Foreign) 15 Years
11. Percentage of Indian Loan 70%
12. Sale of Electricity Rs.6.49
13. Cost of Project (per MW) 450 Lakh
14. O&M Cost (per MW) 8 Lakh/year
15. Depreciation 5.28%
16. Corporate Tax 30.28%
17. Minimum Alternate Tax 18.38%
18. Project Cost 450 Lakh
19. Debt 355 Lakh
20. Equity 95 Lakh

Frequently Asked Questions

On average, a 1 kW solar system needs a shade-free area of approximately 6 square meters. Therefore, to install solar panels for a 1 MW system, you would need over 6,000 square meters of land. The total area required for the installation of a 1 MW solar power plant is also influenced by the number of solar panels and the mounting structure used.

Both models come with their own advantages and disadvantages. If your business has the capability to make the necessary capital expenditure, becoming a solar owner is straightforward. However, if you're not in a position to pay a large sum upfront, you might consider entering into a Power Purchase Agreement (PPA) under the CAPEX model. This approach allows you to pay a significantly lower per-unit tariff on a monthly basis for a duration of 10 to 25 years.

Operating and maintaining your 1 MW solar power plant is more straightforward than you might expect. Solar panels only require a basic cleaning routine, which can be done using a simple cleaning kit. Regularly keeping the surface of your solar panels free from debris and buildup is essential to ensure they operate at peak efficiency.

Is it challenging to operate and maintain a large 1-megawatt power plant? In reality, managing your 1 MW solar power plant is simpler than you might imagine. Solar panels require just a basic cleaning routine and a simple cleaning kit. Regularly ensuring that the surface of your solar panels is free of debris and buildup is crucial for maintaining their efficiency levels.

Solar PV modules are the key component in all types and sizes of solar power plants. Most manufacturers offer a performance warranty of 25 years. Typically, these solar panels continue to generate electricity beyond the warranty period, although at a reduced capacity.

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