A recently compiled report, as part of the Indo-German Technical Cooperation on Innovative Solar, offers a thorough examination of India's floating solar capabilities. Delving into the potential for floating solar installations, the report also includes forward-looking projections spanning from 2024 to 2040.
A fresh report, crafted within the framework of the Indo-German Technical Cooperation on Innovative Solar (IN Solar), reveals that inland water bodies across India possess the technical capacity to support an impressive 206.7 GWp of floating solar energy.
The team utilized Geographic Information System (GIS) data encompassing all water bodies across India, measured in square kilometers, referencing the Copernicus Programme by the European Commission. They filtered the dataset to encompass water bodies with usable areas exceeding 0.015 sq km, ensuring a year-round water availability for 12 months, while excluding those within protected zones. This filtering process was crucial as an area of 0.015 sq km is necessary to accommodate the installation of 1 MW of floating photovoltaic (PV) systems.
Madhya Pradesh leads with the highest potential of 40,117 MWp, followed closely by Maharashtra with 32,076 MWp. Spearheaded by the Indian Ministry of New and Renewable Energy, this project receives funding from the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). Overseeing the project is Ernst and Young LLP (EY LLP), supported by partners CSTEP and Fraunhofer ISE.
According to the report's moderate scenario, India has the potential to install a cumulative floating solar capacity of 30 GW between 2024 and 2040. This estimation is based on the assumption that each megawatt (MW) of floating photovoltaic (PV) would entail capital expenditures resulting in a levelized cost of energy (LCOE) of INR 4.32 ($0.052) per kilowatt-hour (kWh).
The research team projected an annual reduction of 2.5% in capital expenditures (capex), leading to a gradual decrease in the levelized cost of energy (LCOE) from floating PV plants from 2024 to 2040. It is anticipated that the LCOE will decrease to INR 3.72/kWh by 2030 and further down to INR 2.90/kWh by 2040.
From PV Magazine