Most wind turbines are currently imported into India and cost around Rs. 2 lakh. The creation of Arun and Anoop, on the other hand, will set you back roughly Rs. 50,000.
“This is the revolution we are attempting to bring into the industry: making energy accessible for the common man,” Arun George told The Quint.
In India, how much does a wind turbine cost?
You don’t have to be an industrialist to succeed in the renewable energy industry. Yes, but the most talked-about virgin investment channel wind energy requires a capital expenditure of Rs 30-35 lakh.
According to V V Shanta Raman, secretary of the Indian Wind Turbine Manufacturers Association, an individual will need to pay close to Rs 1 crore to install the lowest capacity wind generator of 250 kilowatt (the smallest capacity that may be installed). Banks lend about 70% of the project cost to establish a wind generator since it is classified as green energy.
If you believe it will be difficult to raise even Rs 30-35 lakh, a group of 10 to 15 people can form an association and invest in a wind farm estate named Madhya Pradesh Windfarms (MP Windfarms). Small investors are the target market for this wind farm.
Consolidated Energy Consultants owns a 51% share in MP Windfarms, the Madhya Pradesh government owns a 25% stake through MP Urja Vikas Nigam, and the central government owns the remaining 24% through the Indian Renewable Energy Development Agency.
The benefit of investing in a wind turbine is that for the first year, 80 percent of the project cost is considered accelerated depreciation, resulting in a tax benefit for sustainable energy.
Wind energy is produced at any specified windy place in the state as a result of central and state-level policy involvement. The generated energy, which is fed into the State Electricity Board’s system, can be sold to electricity boards or used for captive consumption and third-party selling in exchange for wheeling fees.
As of March 31, 2005, India has a total installed capacity of over 3,595 megawatts. Tamil Nadu and Karnataka are viewed as potential states for wind energy development and revenue generating through energy sales to power boards.
The Tamil Nadu Electricity Board pays approximately Rs 2.70 per unit, while the Karnataka Electricity Board pays approximately Rs 3.25 per unit.
A 250 kilowatt generator may generate about 5.6 lakh units of renewable energy in the first year after installation, according to Raman.
So, based on an initial estimate, a person who invests in a wind turbine will earn around Rs 13 lakh in the first year by selling energy to the state power board. A wind turbine, according to Raman, takes five to six years to break even and has a 20-year lifespan.
The annual cost of operation and maintenance, including insurance, is between Rs 40,000 and Rs 50,000. The installation of wind turbines is covered by a one-year guarantee.
The good news for anyone considering a wind energy investment is that wind turbine manufacturers can help with everything from planning to installation. Suzlon and NEG Micon feature a 750-1,650 kilowatt wind generator. Wind turbine manufacturers also look for a suitable area to install and service their machines.
To install a 250 kw wind generator, simply contact one of the wind turbine manufacturers, such as Shriram EPC, Pioneer Asia Wind Turbine, Vestas RRB, or NEPC India.
Wind data is collected by the ministry of non-conventional energy sources through the installation of sophisticated computerized data loggers at more than 500 locations because wind is highly site-specific and can vary substantially even at a distance of 1 km.
- Because wind energy is classified as non-conventional energy, it is eligible for an 80 percent depreciation deduction in the first year. All other investments worth more than Rs 1 lakh are taxed by the government.
- Banks lend 70% of the project cost as a loan with a 9% interest rate for wind energy installation. For a 250 kilowatt wind turbine, the minimum installation cost is Rs 1 crore. As a result, an individual will need to invest up Rs 30-35 lakh up front, with the remaining funds coming from bank loans.
- The energy generated can be sold to state-run power companies. Almost half of the money invested by individuals (almost Rs 14 lakh) can be earned as revenue in the first year of operations. The funds can also be used to pay down a portion of the debt.
- The annual cost of operation, maintenance, and insurance is between Rs 40,000 and Rs 50,000. On an installed turbine, wind turbine manufacturers provide a one-year warranty.
- When compared to traditional energy, wind energy is considered to be one of the most environmentally benign sources of energy.
What is the price of a small wind turbine?
Small wind turbines cost between $3,000 and $5,000 per kilowatt of generating output, according to the American Wind Energy Association (AWEA). The cost of erecting a tiny wind turbine, on the other hand, varies based on the system’s size, tower height, and equipment purchased. In most circumstances, the more expensive a wind turbine is, the larger and taller it is.
Is it viable to build windmills in India?
These plants produce 17.7 MW of wind electricity and 11.29 crore units in total. The SMC has made a profit of Rs57.01 crore from these units so far. SMC plans to build six 2.1MW plants in Nakhtrana, Kutch, in the near future.
Is it possible to power a home with a modest wind turbine?
Micro-wind or small-wind turbine systems, which harness the power of wind to generate electricity, can provide more than enough energy to power the lights and electrical appliances in a standard home when placed in an exposed position.
Is it possible for me to purchase a wind turbine?
Wind turbines are available for usage by everyone from homeowners to utilities, as well as private and business entities. Cash can be used to purchase small wind turbines, and commercial-scale projects can be financed. See the website’s small wind section for further information on small projects, such as those for a home, ranch, or business that are less than or equal to 100 kilowatts (kW).