RENEWABLE ENERGY

Lockdown effect: Industries adopt captive solar power to cut costs

Falling revenues and increasing electricity costs during the lockdown have forced a lot of companies across industries to shift to captive solar power generation to cut down on the recurring cost of energy, according to major solar end-to-end services players. Many companies have virtually managed to reduce their electricity cost to as low as the fixed cost, and see the payback on their investments in three-four years, these sources claim.

For consumption of 1 MW of electricity, companies pay around rS 27 lakh as electricity bill that gets reduced to Rs 2 lakh or so in one year as they just pay the fixed cost component on thermal power, since the factories are still connected to the Grid.

Source
financial express
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