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