International E-publication: Publish Projects, Dissertation, Theses, Books, Souvenir, Conference Proceeding with ISBN.  International E-Bulletin: Information/News regarding: Academics and Research

Financial analysis of PV installations in rural India

Author Affiliations

  • 1Government College of Engineering, Karad, Maharashtra, India
  • 2Government College of Engineering, Karad, Maharashtra, India

Res. J. Engineering Sci., Volume 8, Issue (3), Pages 40-43, September,26 (2019)


Acute power crisis in rural India is stress on the people. Hence use of renewable energy is the way to a sustainable future. Photovoltaic technology, one of the cleanest and greenest sources of electricity, has attracted many types of customers with different federal initiatives and incentives. This paper presents study of variability of investment value through different economic performance metrics and compares the PV technology with conventional power generation costs. This study critically defines the cost benefit economic parameters for adopting photovoltaic technology/traditional technology through benefit cost ratio, net present value, profitability index and internal rate of return analysis. Real time case study of Bidal village (Tal-Man; Dist- Satara) demonstrates the applicability of proposed analysis.


  1. Drury E., Denholm P. and Margolis R. (2011)., The impact of different economic performances metrics on the perceived value of solar photovoltaics., Technical Report NREL/TP-6A20-52197
  2. Chabot B. (1998)., From costs to prices: economic analysis of photovoltaic energy and services., Progress in photovoltaics: research and applications, 6(1), 55-68.
  3. Nofuentes G., Aguilera J. and Muñoz F.J. (2002)., Tools for the profitability analysis of grid‐connected photovoltaics., Progress in Photovoltaics: Research and Applications, 10(8), 555-570.
  4. Swider D.J., Beurskens L., Davidson S., Twidell J., Pyrko J., Prüggler W. and Skema R. (2008)., Conditions and costs for renewables electricity grid connection: Examples in Europe., Renewable energy, 33(8), 1832-1842.
  5. Roque A., Fontes N., Maia J., Casimiro C. and Sousa D.M. (2009)., Economic aspects of a domestic micro-generation system., In 2009 6th International Conference on the European Energy Market, 1-6. IEEE.
  6. Talavera D.L., Nofuentes G., Aguilera J. and Fuentes M. (2007)., Tables for the estimation of the internal rate of return of photovoltaic grid-connected systems., Renewable and sustainable energy reviews, 11(3), 447-466.
  7. Nofuentes G., Aguilera J., Rus C. and Santiago R.L. (2003)., A short assessment on the profitability of PV grid-connected systems using classical investment project analysis., In 3rd World Conference on Photovoltaic Energy Conversion, 2003, IEEE, 3, 2632-2635.
  8. Lin C.H., Hsieh W.L., Chen C.S., Hsu C.T., Ku T.T. and Tsai C.T. (2011)., Financial analysis of a large-scale photovoltaic system and its impact on distribution feeders., IEEE Transactions on Industry Applications, 47(4), 1884-1891.
  9. Kaldellis J.K. and Gavras Jh. J. (2010)., The Economic Viability of Commercial Wind Plants in Greece: A Completed Sensitivity Analysis., Energy Policy, 28(8), 509-517.
  10. Roberts B.P. and Sandberg C. (2011)., The role of energy storage in development of smart grids., Proceedings of the IEEE, 99(6), 1139-1144.
  11. Mohsenian-Rad A.H. and Leon-Garcia A. (2010)., Optimal residential load control with price prediction in real-time electricity pricing environments., IEEE Trans. Smart Grid, 1(2), 120-133.
  12. Raziei S.A. and Mohscnian-Had H. (2013)., Optimal demand response capacity of automatic lighting control., In 2013 IEEE PES Innovative Smart Grid Technologies Conference (ISGT), 1-6, IEEE.