Main Strengths of the project
- It is a very low maintenance system, compared to other power generation technologies.
- It does not need much active manpower for operation once complete.
- No dependency on any fuel, except sunlight which in abundant in India for most times of the year.
- Green in nature – does not pollute the environment by emitting any harmful gases, so can be commissioned close to human dwelling.
- Payback period of the project is within 5 to 6 years and project life is approx. 30 years.
- This leads to income for a long time, once initial cost is recovered.
- Gestation period is less compared to other renewable technologies – Plant can be commissioned in 8 to 16 months’ time.
- Government is giving lots of incentives and subsidies on grid connected solar projects (CO2 imitations tax credit / Investment relief in Energy sector / 2 year Accelerated depreciation relief ).
- Long term 30 year purchase agreement of the Power Plant is there.