Correction : Suryodaya Yojana
In her Budget speech yesterday , Smt Sitharamanji talked about government plan to install 1 crore ( 10 million ) Roof Top Solar installations on roofs of poor / middle class families
She said that , as a result of this , concerned family will get 300 units/month, of electricity FREE , resulting in an annual saving of Rs 15,000 to Rs 18,000
( 300 units x Rs 5 – 6 / unit x 12 )
Budget speech did not provide any details of this scheme
A few days ago , I had sent following blog to Smt Sitharamanji :
Ø Suryodaya Yojana .. ………………………28 Jan 2024
Where did I goof up in this blog ?
I forgot to add the costs of an Inverter and a Battery ( - this happens when you are 90 ! )
This cost could be > Rs 30,000 ( for a 1 kWh battery and 1.5 kW inverter )
Of course, when EESL goes for mass-purchase, this could be brought down to Rs 20,000
In my blog , I had assumed following costs ( again based on mass purchase of 1 crore installations ):
# 3 Kw Solar Panel ………………………. Rs 125,000
# 1.5 Kw Induction Stove……………… Rs 1,000
Hence the total cost of the entire system would add up to :
Ø Rs 125,000 + Rs 1,000 + Rs 20,000 = Rs 146,000
As far as units / month , I stand by my suggestion in earlier blog :
Ø Produces ( by 3 Kw RTS ) ……………………………………………. 360
Ø Consumed for lighting / fans / fridge etc …………………….. 80
Ø Consumed for Induction Stove …………………………………….. 180 ( 1.5 Kw x 4hours / day x 30 days )
Ø Fed back to the Grid ( earning Rs 3 / unit )…………………. 100
And I re-emphasize my following suggestion for incentivizing :
( A ) Consumers
# By giving 100 % subsidy . Totally FREE installation of 3 Kw Roof Top
Solar
( B ) DISCOMS
# By fully compensating for loss of revenue + some incentive
( C ) Funding Agency ( REC )
# By transferring all Carbon Credits earned by 1 crore ( 10 million )
installations
What else ?
Ø Saving to the Govt ( no LPG to 1 crore beneficiaries of Suryodaya Yojana ) : Rs 10,800 crore/year
Ø Total Investment ( Rs 146,000 x 1 crore ) ………………………………………………….. : Rs 1.46 lakh*crore
Ø If electric stoves were given to 10 crore UJWALA families , SAVING will be : Rs 1.1 lakh*crore/year
Ø An investment of Rs 1,000 ( in electric stove ) can be recovered in just 3 months
Ø ( @ Rs 300 / cylinder subsidy )
How much can REC earn by selling Carbon Credits earned by this COMPOSIT scheme ?
Ø Proposed solar-powered cooker will be entitled to 51.48 carbon credits per year
Ø Each Solar Cooker will earn $ 514.8 / year by way of selling Carbon Credits (@ $ 10 / credit )
Ø That is approx.. Rs 41,200 ( at $ 1 = Rs 80 )
Ø For 1 crore COMPOSIT installations, REC will earn ……….. Rs 41,200 crore / year
( on investment of Rs 1.46 lakh*crore )
Ø REC will recover its entire investment in 3 years !
With regards,
Hemen Parekh
Create Your Own Digital Avatar / 02 Feb 2024
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