Economics Times reported that several commercial establishments are now switching to solar solutions for their captive power needs as cost of solar modules is falling and the installation cost can be recovered within 5 years.

 

Rising petroleum prices are expected to benefit renewable energy solution providers as commercial establishments that use diesel generator sets for their captive requirements may find solar power attractive.

 

The city gas distribution players too expect commercial establishments to switch from diesel to piped natural gas in the areas where power supply is unreliable.

 

Several commercial establishments are now switching to solar solutions for their captive power needs as cost of solar modules is falling and the installation cost can be recovered within 5 years industry officials said.

 

Solar power solution providers are not only targeting the industries but also the agriculture sector. Solar pump is not new for farmers. With decreasing costs of solar power installations coupled with expensive diesel the former will make inroads into farms. Solar water pumping system would be a good choice for farmers.

 

Pay back period for solar pump is anywhere between 3 to 7 years depending on the capacity and its usage. With diesel price expected to go up further pay back period for investments in solar pump will also come down for farmers."