{"id":1805,"date":"2024-04-04T11:24:32","date_gmt":"2024-04-04T11:24:32","guid":{"rendered":"https:\/\/freyrenergy.com\/?p=1805"},"modified":"2024-10-24T07:37:27","modified_gmt":"2024-10-24T07:37:27","slug":"key-factors-driving-down-solar-prices-in-india","status":"publish","type":"post","link":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/key-factors-driving-down-solar-prices-in-india\/","title":{"rendered":"Key Factors Driving Down Solar Prices in India"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/solar-panel-price-trends-in-2024-what-to-expect\/\">Solar prices in India<\/a><\/strong> have reduced drastically in the last couple of years, which has alternatively led to a dramatic increase in the supply and demand for solar panel installations in the country.<\/p>\n\n\n\n<p>Solar energy is relevant for a tropical country like India, which receives ample sunshine throughout the year. Today, India is the third largest solar market in the world as in 2019 witnessed around 7.3 GW of <a href=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/evolution-of-solar-power-and-solar-panel-technology\/\"><strong>solar panel installations in India<\/strong><\/a>.&nbsp;While we pride ourselves on these achievements, it is worth looking at some key aspects, which have led to solar panel price reduction in India over the last few years.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The demand for solar increased: There has been an unprecedented demand for solar panel installation in India. The Central Electricity Authority reported a 28% year on year growth in energy generated from solar power in India when compared to 2018 and 2019. People have started realizing the multiple <strong><a href=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/benefits-of-going-solar\/\">benefits of using solar<\/a><\/strong> and are showing interest in exploring Solar as their primary energy source.<\/li>\n\n\n\n<li>Initiatives by the Government: The Government is committed to increasing the use of clean energy sources. The GoI has introduced various policies and subsidy schemes that are conducive to their efforts. Ever since the Electricity Act 2003, the government\u2019s efforts have been to streamline the promotion of solar panel installations in India.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"767\" src=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-content\/uploads\/2024\/04\/image-33-1024x767.png\" alt=\"Solar Prices in India\" class=\"wp-image-1806\" style=\"width:514px;height:auto\" srcset=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-content\/uploads\/2024\/04\/image-33-1024x767.png 1024w, https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-content\/uploads\/2024\/04\/image-33-300x225.png 300w, https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-content\/uploads\/2024\/04\/image-33-768x575.png 768w, https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-content\/uploads\/2024\/04\/image-33.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li>Through the National Electricity Policy 2005, Tariff Policy 2006 and its amendment in 2011, the government worked to increase the share of energy generated from renewable energy. With the introduction of a dedicated mission \u2013 The <a href=\"https:\/\/en.wikipedia.org\/wiki\/National_Solar_Mission\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">National Solar Mission<\/a> \u2013 under the National Action Plan on Climate Change 2008, Government of India had specific goals for increasing the use of solar thermal technologies in urban areas, industry, and commercial establishments. By then, Solar had established a strong presence in the country, and it was time to take action to reduce solar panel price in India.<\/li>\n<\/ul>\n\n\n\n<p>The <strong>solar energy initiatives in India <\/strong>such as the Green Energy Corridor project have been put in place to support the grid installation of large-scale renewable energy capacity addition. Several schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabiyan Yogana ( PM \u2013 KUSUM), CPSU (Government producers) Scheme Phase-II and Solar Rooftop Phase-II program are aimed at the improvement of solar generation as well as the adoption of <a href=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/how-can-i-start-a-solar-energy-business-in-india\/\"><strong>solar energy<\/strong><\/a> in India.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>The Semiconductor Policy 2007 was announced to draw investments in semiconductor fabrication by providing special incentives for the manufacturing of all semiconductors and solar photovoltaic cells. With the Karnataka Semiconductor Policy 2010, Government of Karnataka was the first state to announce its semiconductor policy to encourage the solar energy sector in India and they focused on developing the entire value chain.<\/li>\n\n\n\n<li>A decrease in benchmark energy subsidy prices \u2013 Benchmark cost is a reference cost suggested by the Ministry of New and Renewable Energy, and is often used to calculate subsidy disbursement for rooftop solar systems. The benchmark cost for grid-connected solar rooftop installations has been progressively reduced in the last 3-4 years.<\/li>\n<\/ol>\n\n\n\n<p>From 2017 to 2020, the \u2018up to 10 kW capacity\u2019 category saw a 77% decline and the \u201910-100 kW capacity\u2019 category saw a 73.8% decline in benchmark costs.<\/p>\n\n\n\n<p>With a 30% return on investment, Solar energy is the way forward for energy generation in the country. We at <a href=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/\"><strong>Freyr Energy<\/strong><\/a>, feel that this is an opportune time to invest in Solar. We have seen huge growth in <strong><a href=\"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/rooftop-solar-panel-in-hyderabad\/\">solar panel installation in Hyderabad<\/a>, Delhi, Pune, Nagpur, Vijayawada, Chandigarh, Bhopal <\/strong>etc.<\/p>\n\n\n\n<p>Our efforts have always been focused towards providing our customers with the best quality services at affordable prices. Choose Solar today, for a clean and green tomorrow.<\/p>\n\n\n<section id=\"faqs\" class=\"main_spacer bg_ter\">\n    <div class=\"container\">\n        <h2 class=\"sec_heading-award lh-1 m-0\">Frequently Asked Questions<\/h2>\n    <\/div>\n    <br><br>\n    <div class=\"container\">\n        <div class=\"mx-lg-auto\">\n            <div class=\"accordion accordion-flush removeAccCSS\" id=\"accordionFlushExample\">\n                <div class=\"accordion-item\">\n                            <h3 class=\"accordion-header\">\n                                <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\"\n                                    data-bs-target=\"#flush-collapse0\" aria-expanded=\"false\" aria-controls=\"flush-collapse0\">\n                                    What is the current price of solar panels in India?\n                                    <div class=\"plus\"><\/div>\n                                <\/button>\n                            <\/h3>\n                            <div id=\"flush-collapse0\" class=\"accordion-collapse collapse\" data-bs-parent=\"#accordionFlushExample\">\n                                <div class=\"accordion-body\"><p><span style=\"font-weight: 400;\">The current <\/span><a href=\"https:\/\/freyrenergy.com\/factors-affecting-solar-system-price-in-2023-a-closer-look\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>solar panel price in India<\/b><\/a><span style=\"font-weight: 400;\"> for 1 kW solar panel is around INR 109,918. For a panel of 10 kW size, the price is approximately INR 613,759.<\/span><\/p>\n<\/div>\n                            <\/div>\n                        <\/div><div class=\"accordion-item\">\n                            <h3 class=\"accordion-header\">\n                                <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\"\n                                    data-bs-target=\"#flush-collapse1\" aria-expanded=\"false\" aria-controls=\"flush-collapse1\">\n                                    Are solar prices in India decreasing?\n                                    <div class=\"plus\"><\/div>\n                                <\/button>\n                            <\/h3>\n                            <div id=\"flush-collapse1\" class=\"accordion-collapse collapse\" data-bs-parent=\"#accordionFlushExample\">\n                                <div class=\"accordion-body\"><p><span style=\"font-weight: 400;\">Yes. This has <\/span><span style=\"font-weight: 400;\">led to an increase<\/span><span style=\"font-weight: 400;\"> in demand from the <\/span><a href=\"https:\/\/freyrenergy.com\/consumer-vs-prosumer-what-is-the-difference\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>consumer<\/b><\/a><span style=\"font-weight: 400;\"> end and more in production supply for the manufacturers. Therefore, <\/span><a href=\"https:\/\/freyrenergy.com\/how-much-do-solar-panels-cost-in-2024-a-guide-for-homeowners\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>solar panel cost in India<\/b><\/a> <span style=\"font-weight: 400;\">has decreased for good.<\/span><\/p>\n<\/div>\n                            <\/div>\n                        <\/div><div class=\"accordion-item\">\n                            <h3 class=\"accordion-header\">\n                                <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\"\n                                    data-bs-target=\"#flush-collapse2\" aria-expanded=\"false\" aria-controls=\"flush-collapse2\">\n                                    What are the factors that affect solar prices in India?\n                                    <div class=\"plus\"><\/div>\n                                <\/button>\n                            <\/h3>\n                            <div id=\"flush-collapse2\" class=\"accordion-collapse collapse\" data-bs-parent=\"#accordionFlushExample\">\n                                <div class=\"accordion-body\"><p><span style=\"font-weight: 400;\">Factors that affect the <\/span><a href=\"https:\/\/freyrenergy.com\/solar-panel-rate-understanding-residential-and-commercial-solar-panel-prices\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>solar price in India<\/b><\/a><span style=\"font-weight: 400;\"> include the panel cost, size and subsidy <\/span><span style=\"font-weight: 400;\">that are<\/span><span style=\"font-weight: 400;\"> offered by the government.<\/span><\/p>\n<\/div>\n                            <\/div>\n                        <\/div><div class=\"accordion-item\">\n                            <h3 class=\"accordion-header\">\n                                <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\"\n                                    data-bs-target=\"#flush-collapse3\" aria-expanded=\"false\" aria-controls=\"flush-collapse3\">\n                                    Are there any government subsidies or incentives for solar adoption in India?\n                                    <div class=\"plus\"><\/div>\n                                <\/button>\n                            <\/h3>\n                            <div id=\"flush-collapse3\" class=\"accordion-collapse collapse\" data-bs-parent=\"#accordionFlushExample\">\n                                <div class=\"accordion-body\"><p><span style=\"font-weight: 400;\">Yes. The <\/span><a href=\"https:\/\/freyrenergy.com\/how-to-benefit-from-pm-surya-ghar-muft-bijli-yojana\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>PM Surya Ghar Muft Bijli Yojana<\/b><\/a><span style=\"font-weight: 400;\"> and PM <\/span><span style=\"font-weight: 400;\">KUSUM Yojana<\/span><span style=\"font-weight: 400;\"> are two of the most popular subsidies available. These yojanas reduce the final <\/span><a href=\"https:\/\/freyrenergy.com\/an-overview-of-solar-panel-installation-and-cost\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>cost of installing solar panels in India<\/b><\/a> <span style=\"font-weight: 400;\">for residents and farmlands.<\/span><\/p>\n<\/div>\n                            <\/div>\n                        <\/div><div class=\"accordion-item\">\n                            <h3 class=\"accordion-header\">\n                                <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\"\n                                    data-bs-target=\"#flush-collapse4\" aria-expanded=\"false\" aria-controls=\"flush-collapse4\">\n                                    How does the price of solar energy compare to traditional energy sources in India?\n                                    <div class=\"plus\"><\/div>\n                                <\/button>\n                            <\/h3>\n                            <div id=\"flush-collapse4\" class=\"accordion-collapse collapse\" data-bs-parent=\"#accordionFlushExample\">\n                                <div class=\"accordion-body\"><p><span style=\"font-weight: 400;\">The solar panel cost in India<\/span> <span style=\"font-weight: 400;\">is mostly recovered in about 5 years from the date of installation. This is completely energy independent from traditional energy sources, which <\/span><span style=\"font-weight: 400;\">cost extra and cause<\/span><span style=\"font-weight: 400;\"> pollution during generation.<\/span><\/p>\n<\/div>\n                            <\/div>\n                        <\/div><div class=\"accordion-item\">\n                            <h3 class=\"accordion-header\">\n                                <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\"\n                                    data-bs-target=\"#flush-collapse5\" aria-expanded=\"false\" aria-controls=\"flush-collapse5\">\n                                    What is the warranty and maintenance cost for solar panels in India?\n                                    <div class=\"plus\"><\/div>\n                                <\/button>\n                            <\/h3>\n                            <div id=\"flush-collapse5\" class=\"accordion-collapse collapse\" data-bs-parent=\"#accordionFlushExample\">\n                                <div class=\"accordion-body\"><p><span style=\"font-weight: 400;\">Most of the top <\/span><a href=\"https:\/\/freyrenergy.com\/solar-panels-for-home\/\" rel=\"nofollow noopener\" target=\"_blank\"><b>solar panels for home in India<\/b><\/a> <span style=\"font-weight: 400;\">manufacturers assure a warranty coverage of nearly 20 years from the date of installation.<\/span><\/p>\n<\/div>\n                            <\/div>\n                        <\/div>                \n            <\/div>\n        <\/div>\n    <\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>Solar prices in India have reduced drastically in the last couple of years, which has alternatively led to a dramatic increase in the supply and demand for solar panel installations in the country. Solar energy is relevant for a tropical country like India, which receives ample sunshine throughout the year. Today, India is the third [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs"],"_links":{"self":[{"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/posts\/1805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/comments?post=1805"}],"version-history":[{"count":9,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/posts\/1805\/revisions"}],"predecessor-version":[{"id":6885,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/posts\/1805\/revisions\/6885"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/media\/1806"}],"wp:attachment":[{"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/media?parent=1805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/categories?post=1805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sanskriticomputers.co.in\/freshdemos\/freyrold\/wp-json\/wp\/v2\/tags?post=1805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}