New study shows India has 207 GW of floating solar potential
The implementation of solar parks on water surfaces is already a reality. Agreements between India and Germany allowed the creation of the Technical innovation platform that has developed this project, aimed at taking advantage of aquatic surfaces for the production of renewable photovoltaic energy.
A new report prepared under this Indo-German Technical Cooperation on Innovative Solar provides a comprehensive overview of floating solar potential in India. It also provides projections for installations from 2024 to 2040.
Engineering and innovation have always been a key pillar in the growth and expansion of tools to take advantage of energy resources by humans.
A new report prepared under the Indo-German Technical Cooperation on Innovative Solar (IN Solar) shows that inland bodies of water in India have the technical potential to host 206.7 GWp of floating solar capacity.
Under a moderate scenario, the report said India could install 30 GW of cumulative floating solar capacity from 2024 to 2040. They assumed 1 MW of floating PV would require capital expenditures equalling a levelized cost of energy (LCOE) of INR 4.32 ($0.052)/kWh.
The team used GIS-based data for all bodies of water in India (calculated in square kilometers) by referencing the Copernicus Programme by the European Commission.
The research team assumed an annual reduction of 2.5% in capex, resulting in a gradual decline of the LCOE from floating PV plants, starting from 2024 and extending through 2040. The LCOE is expected to drop to INR 3.72/kWh by 2030 and INR 2.90/kWh by 2040.
The data set was filtered to include bodies of water with a usable area greater than 0.015 sq km, with 12 months of water availability, while excluding bodies of water in protected zones. An area of 0.015 sq km is required to install 1 MW of floating PV.
The state of Madhya Pradesh has the maximum potential of 40,117 MWp, followed by Maharashtra with 32,076 MWp.
The project has been launched under the guidance of the Indian Ministry of New and Renewable Energy and is funded by the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). Ernst and Young LLP (EY LLP) has led the project, along with CSTEP and Fraunhofer ISE as partners.
Under a moderate scenario, the report said India could install 30 GW of cumulative floating solar capacity from 2024 to 2040. They assumed 1 MW of floating PV would require capital expenditures equalling a levelized cost of energy (LCOE) of INR 4.32 ($0.052)/kWh.
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