Topics covered -
- What is a Net metering Solar Power system?
- What are the benefits of a Net metering system?
- Net metering policies and subsidies in Goa
- Investment & Payback Analysis
Net metering system explained
In a Grid connected Net metering Solar power system, the energy generated by the solar panels is primarily used by the customer. Any excess energy generated which is not consumed, is sent to the grid. A net meter or bi-directional meter is installed at site to record the number of units exported and imported from the grid.
In a Net metering system, the customer is billed only for the net units consumed from the grid that is, the difference in the number of units consumed and exported to the grid. In case the power exported to the grid is higher than that imported from the grid, the government agrees to pay the customer for the excess units as agreed in the PPA(Power Purchase Agreement) signed between him and the government at the time of installation of the net-meter.
Benefits of Net metering
- You can achieve zero electricity bill by exporting excess power generated in the day
- You can increase your savings by gaining rebate on the surplus power exported to the Grid
- Grid acts as a power bank to store the excess solar power generated and there is no need for additional storage system
- Once the system is installed and net metering commissioned, the system will operate for 25 years. Low maintenance costs ensures quick payback
- Subsidies and incentives are given to customers who opt for Solar Net metering systems by the government
Net metering policy in Goa
- Net metering policies have been issued to promote solar power and it may vary from state to state. In this article, we will be discussing the net-metering policies in Goa
- As per the latest gazette issued by the Goa Government, the Central & State governments have proposed a combined subsidy of up to 50% on benchmark rates for customers who install Grid connected solar power systems. This is applicable for consumers with an LT (Low Tension) connection and sanctioned load between 1kW to 90kW in the Residential, Commercial, Educational, Institutional or Industrial sectors.
- The Central government has also introduced Central Finance Assistance (CFA) for residential customers to decrease the upfront cost of solar power installations.
- A customer is eligible for subsidies only if the solar power plant is installed by agencies empanelled with GEDA (Goa Energy Development Agency). The subsidy rates for different capacities are mentioned in the below table
| Category of Customer | Central Finance Assistance | Goa State Govt. Subsidy |
|---|---|---|
| Residential (1kW to 3kW) |
40% | 10% |
| Residential (3kW to 10kW) |
20% | 30% |
| Residential (Above 10kW) |
Nil | 50% |
| Group Housing Societies (10kWp per house and total capacity < 500kWp |
20% | 30% |
| Educational Institutions (1kW to 90kW) |
Nil | 20% |
| Commercial & Industrial (1kW to 90kW) |
Nil | 20% |
Increase your savings with Grid connected solar power systems
Here is a comprehensive analysis of savings through solar power systems from 3kW to 10kW capacities –
| Solar Power System Design | ||||
|---|---|---|---|---|
| Monthly Electricity Bill [@ Rs. 5/unit] |
1,800 | 3,000 | 4,800 | 6,000 |
| Units consumed in a month [inkWh] |
360 | 600 | 960 | 1,200 |
| Recommended Solar Plant Capacity | 3 kW | 5 kW | 8 kW | 10 kW |
| No of Solar Panels [@ 330Wp] |
9 | 15 | 24 | 30 |
| Area required for Installation [in Sq Mtr] |
30 | 50 | 80 | 100 |
| Solar Power Plant Payback Analysis | ||||
| Total cost of the system [in Lakhs at current rates**] |
2.5 - 3.0 | 3.5 - 4.0 | 4.5 - 5.0 | 5.5 - 6.0 |
| Approximate Solar Energy generated in a year [in kWh] |
4,380 | 7,300 | 11,680 | 14,600 |
| Savings due to Solar [in Rs] [Solar Units Generated * Electricity Tariff] |
21,900 | 36,500 | 58,400 | 73,000 |
| Central Finance Assistance (As per latest policy 2021) [in Rs] |
56,339 | 65,520 | 90,090 | 1,06,470 |
| State Subsidy (As per latest policy 2021) [in Rs] |
14,085 | 36,855 | 73,710 | 98,280 |
| Total Subsidy for Solar Power Plant [in Rs] | 70,424 | 1,02,375 | 1,63,800 | 2,04,750 |
| Payback [in years] |
8 | 7 | 6 | 5 |
| ** Note - The cost of the Solar Power System given in this table is only for calculation purpose and is subject to change depending on state regulations, cost of system componenets at the time of purchase and site requirements. | ||||
