India is blessed with abundant solar irradiation, receiving about 300 days of sunshine every year. To leverage this free renewable resource, Solar Exporters offers high-quality and affordable solar systems for residential and commercial establishments. One common question potential customers have is: How much does it cost to install a 15-kilowatt (15 kW) solar power system in India?
In this detailed guide, we provide a breakdown of:
- Solar equipment capital expenditure
- Additional installation charges
- Applicable government incentives
- Expected savings on electricity bills
- Return on investment timeline
Equipping you to make an informed decision on investing in solar power.
Overview of 15 kW Solar Power Systems
A 15 kW solar photovoltaic (PV) system has the capacity to generate an average of 60–75 kilowatt-hours (kWh) of electricity per day, depending on location and sunlight conditions. This is enough to meet the energy needs of a large household or a medium-sized commercial unit.
Some examples of good fits for 15 kW solar power systems are:
- Luxury urban villas
- Multi-story apartment buildings
- Restaurants, shops and boutiques
- Small factories and warehouses
- Corporate office spaces
Solar panels absorb sunlight and convert it into DC power. This is fed to inverters to convert into AC electricity for consumption. Excess power is exported to the grid.
Now let’s examine the capital investment required to install a 15 kW solar plant.
Breakdown of 15 kW Solar Power System Costs
The total cost of a 15 kW solar system in India ranges from ₹7.5 lakhs to ₹13.4 lakhs, covering all equipment, labor, cables, switches, and taxes.
The key components influencing solar power system rates are:
1. Solar PV Modules
Premium-quality solar panels form the heart of the power plant. For a 15 kW capacity, around 50 panels of 300 watts each are needed.
Higher-efficiency panels enhance energy yield but also increase project costs. Optimal solutions combine both high efficiency and more affordable modules.
2. Inverters
Inverters convert DC current into AC electricity. String inverters are the most popular choice for 15 kW systems. Microinverters offer module-level control at an added cost.
3. Mounting Structures
Secure mounting structures hold panels in place. For a 15 kW capacity, around 300 sq. ft. of installation space is needed.
Ground mounts allow changing orientation over a rooftop. But it requires more real estate.
4. Cables, Switches and Labor
Copper cables, junction boxes, and switches enable efficient solar power distribution.
Skilled manpower is essential for mounting structures, laying cables, connecting panels, etc.
Additional Charges Beyond Basic System
Some additional charges may apply:
- Transportation and logistics: For shipping equipment
- Taxes: 5% GST on most solar components
- Net metering: one-time grid connection fee
- Energy storage: For solar power backup
- Civil work: If roof needs strengthening
Channel partner packages cover end-to-end requirements at discounted pricing.
Solar Incentives Offered by Government
The Indian government offers generous incentives to accelerate solar adoption:
1. Capital Subsidy
The MNRE rooftop solar program provides a benchmark subsidy of ₹1.17 lakhs for systems above 10 kW.
2. Accelerated Depreciation
40% depreciation in Year 1 to reduce tax liability for commercial establishments.
3. Renewable Energy Certificates
Solar power projects earn RECs which can be sold to discoms.
4. Concessional Import Duties
5-15% import duty makes solar affordable vs. 25-30% on fossil fuels.
5. Low Interest Project Financing
Banks offer solar loans at 8-9% interest enabling easy payback.
Electricity Bill Savings with Rooftop Solar
Self-consumption of solar power reduces expenditure on grid electricity bills.
15 kW systems save ₹1200-1600 per month on average – over ₹14,500 yearly.
Solar batteries store excess generation for evening usage – enhancing savings further.
Higher grid power tariffs mean faster payback. Plus commercial establishments use more day-time energy.
Return on Investment Horizon
Factoring in costs, subsidies and electricity savings –
The payback period for 15 kW solar power works out to 4-6 years typically.
Thereafter, free electricity for 20+ years!
Lifecycle ROI exceeds 150% with properly designed and executed solar projects.
Innovative vertical bifacial panel mounting can offer IRR as high as 250%.
Conclusion
We have provided a detailed analysis on 15 kW solar system costs and benefits.
Investing ₹10 lakhs upfront can help recover expenses in 5 years and get free power for 20+ years after!
Plus you reduce carbon footprint by generating clean, green energy.
To get a custom solar quote for your specific needs, contact Solar Exporters today!
Go solar for energy independence for decades to come with Solar Exporters!