A solar power project consists of one or more electrically connected PV modules — integrated with hardware components, such as solar PCU, combiner boxes, mounting structure, wiring, and enclosures. If you had already decided to install rooftop solar system, the good news is the price of solar panels in India decreasing rapidly. We have seen approximately 35% fall in solar panels cost in the last year. The cost of installed PV is conventionally divided into two parts: the cost of the solar module (solar panels) and hardware components, which include costs for inverters, racking and installation hardware, design and installation labor, and marketing, as well as various regulatory and financing costs. The solar panel price of the project depends on types of rooftop you want to install.
On-grid rooftop system:
An electricity pricing system that allows residential and commercial customers who generate their own electricity from solar power to sell their excess electricity back into the grid at retail rates. On grid systems are connected to the local grid supply through net metering. Main advantage of on grid system is you can sell the excess electricity back into the grid at retail rates. As it don’t need any battery bank, can save extra cost of battery bank. System costs between Rs 60-85 per watt including solar PCU, net metering, mounting structures, wiring and installation charges. i.e. if you want to install 5KW on-grid project, it would costs between Rs 3 lacs – 4.25 lacs. You can avail government subsidy up to 40% over total cost of project under Jawaharlal Nehru National Solar Mission scheme.
Off-grid rooftop system:
Residential “off grid solar project” system are standalone systems, which are not connected to grid. It is suitable for areas where power supply is not available or irregular. Off-grid systems store the electricity in the battery bank to utilize in night or in cloudy days. Off grid systems costs between Rs 80-100 per watt including solar PCU, solar batteries, mounting structure, wiring and installation charges. i.e. if you want to install 5KW project off-grid project, it would costs between Rs 4.00 lacs – 5.00 lacs. There no Subsidy scheme is available for off-grid systems.