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August 1, 2018MNRE Benchmark Solar Cost 2018-19
Benchmark cost in literal term means the price of a commodity that is accepted at the marketplace and set by the country or producers’ organization.
The Ministry of New & Renewable Energy in India sets the benchmark cost of solar products from time to time, given that the cost is rapidly plummeting. The benchmark cost of solar is also falling worldwide. According to the International Renewable Energy Agency (IRENA), solar costs have declined by more than 70% since 2010 and will further fall by 40% by 2020.
India has set a record target of 100 GW of solar installations by 2022 and its expectation is boosted by falling cost and improving efficiencies. Solar is gradually becoming mainstream and is also cheap than conventional power at fewer places. The benchmark cost set by MNRE for applications like rooftop solar, solar lights, solar powered hand pumps in India are summarized in the table below. The MNRE benchmark cost 2018-19 is compared with MNRE benchmark cost 2017-18. Please note how these costs have declined in just one year’s time.
Also, read All you wanted to know about Solar Subsidies in India
MNRE Benchmark Cost 2018-19 vs 2017-18
The benchmark costs for off-grid solar PV systems and grid-connected rooftop solar power plants for the year 2018-19 and 2017-18.
| i) Grid-connected Rooftop Solar | |||
| Benchmark Cost (in INR/ Wp) | |||
| Capacity | 2018-19 | 2017-18 | % Decline |
| 1 kW – 10 kW | 60 | 70 | 14.3 |
| 10kW – 100 kW | 55 | 65 | 15.4 |
| 100 kW – 500 kW | 53 | 60 | 11.7 |
Also, read What returns can I get from a Rooftop Solar System
| ii) Solar Pumps | |||
| Benchmark Cost (in INR/ Hp) | |||
| Capacity | 2018-19 | 2017-18 | % Decline |
| Upto 3 Hp (DC) | 85,000 | 1,20,000 | 29 |
| > 3 Hp – 5 Hp (DC) | 77,000 | 95,000 | 19 |
| Upto 3 Hp (AC) | 80,000 | 1,00,000 | 20 |
| > 3 Hp – 5 Hp (AC) | 65,000 | 85,000 | 24 |
| iii) Solar Lights | Benchmark Cost (in INR/ Wp) | ||
| Types | 2018-19 | 2017-18 | % Decline |
|
250 | 340 | 26 |
|
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| — with lead acid battery | 300 | 340 | 12 |
| — with li-ion battery | 435 | 475 | 8 |
The benchmark cost in North Eastern States/Hill States/ Island UTs is a little higher than the general cost announced. The decline in prices indicates that solar is not only environment-friendly but is also becoming economical with each passing year.