Investment Cost for floating solar in India

Since FSPV technology have just started getting tractions, accurate data related to project capital and operating cost are not disclosed in the public domain. 

Also at present, as there are a few projects that are installed and are in operation, it is very difficult to calculate their operations and maintenance cost. Thus only capital costs are used to showcase the investment cost trends in Chart.

It is interesting to see how the cost had decreased in the past 2 years. Especially the country like India has already started getting the lowest cost in the world and one can expect it to go down further, as more projects are about to come in the near future.

Recent bids results indicate a sharp decline in the investment cost for FSPV. In the latest tender result of the country’s first large-scale FSPV plant of 70MW capacity, cost as low as INR 35 per Wp has been quoted by developers.

This is the lowest cost achieved in the entire world so far. Further considering last year’s trends, one can see the 45% reduction in the cost, which is significant. Even though the costs have decreased, it is still very early to come to any generalization, since the FSPV as a technology is still in its early stage of market penetration.

                                                                                                                                                                                  Source: Teri’s Report