PV SOLAR

EMERGING TRENDS IN TECHNOLOGY

AND FINANCING
 AGENDA
 About Enerco
 PV Solar – Time Travel (History and Present)
 Things to know before going Solar
 Popular Financial Models in PV Solar
 Emerging Technologies in PV Solar
 Popular Myths about PV Solar

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ABOUT ENERCO
 About ENERCO (Background)
 ENERCO Energy Solutions LLP established in 2009
as an Industrial Energy Service & Solution Provider
 Industrial Solar Projects –
 Financing (including 100% OPEX / RESCO)
 Execution – Onsite EPC / Offsite Open Access

 Energy Consultancy –
 Energy Audit
 Power Sourcing

 Solar Plant Improvement

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 About ENERCO (Clientele)

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 About ENERCO (Projects)

30 kWp to 50 kWp rooftop for

Mumbai’s largest Gas
distributor – MGL
(Mumbai’s 1st rooftop project in
2012)

1 MWp rooftop Project for FMCG

Giant under BOOT / OPEX basis
(+2 MWp in pipeline)
(India’s largest OPEX project
at the time of installation)

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 About ENERCO (Projects)

570 kWp PV Solar Rooftop

Project for MNC in Pune (+200
kWp in Pipeline)

(Best-in-class performance of
5.20 kWh per kW per day)

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 About ENERCO (Projects)

80 kWp rooftop
project in Nashik for
an automotive
Company under OPEX
/ BOOT basis
(+1.5 MWp in pipeline)

(Record 7-days
execution + 0%
downtime till date with
highest output)

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PV SOLAR – TIME TRAVEL
(HISTORY AND PRESENT)
 PV Solar – Time Travel
 50+ years ago NASA started using Photo Voltaic
(PV) to power satellites
 Real acceptance for power requirements on Earth
started in early 2000s
 Key contributing factors
 Technology advancement (5% to 20%+ efficiency)
 Steep drop in PV prices

 Manufacturing growth

 Global climate change

 Rising fossil fuel prices

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 PV Solar – Time Travel

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 PV Solar – Time Travel

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 PV Solar – Time Travel

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 PV Solar – Time Travel
 Trends indicate a jump in installation of 10 GW in
CY 2020
 Reports suggest cumulative installation of 75-80
GW of Solar by 2022 as against target of 100
GW

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 THINGS TO KNOW
BEFORE GOING SOLAR
 Things to know

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 Things to know
A. Project Configurations possible

Onsite Captive

Offsite 3rd Party

Offsite Group Captive

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 Things to know
B. Financial Models (covered in next section)

C. Government regulations

OA Policy
Net-Metering
Surcharges, Taxes
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 Things to know
D. Technology
Technology Selection
• Existing Inventory vs Improved
• Safety & Compatibility (IEC TC 82)
• Vendors
Site Conditions
• Suitability
• Challenges
Quality
• Design
• Output
• Compatibility
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POPULAR FINANCIAL MODELS IN
PV SOLAR
 Popular Financial Models
 Success of Solar Project lies in choosing the most
optimum financial model
 No one-size-fits-all approach
 Financial model inline with Company’s strategic
objectives and goals
 Each model to be carefully analyzed and
compared against other financial models

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 Popular Financial Models

Financial Models

OPEX / CAPEX Leased COPEX

RESCO

(Self-funded) Combo model

(100% 3rd Asset light
party Funded)
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 Popular Financial Models
 OPEX / RESCO / BOOT
 Most popular + gaining momentum since 2017
 100% funded with O&M taken care of

 PPA of 15+ years

 Assets transferred to off-taker after agreement period

(All previous aspects + Legal aspects to be considered even

though 3rd party investing)

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 Popular Financial Models
 CAPEX
 Self-funded

 Pays back in 3 to 5 years

 Assets in consumer books

 Tax benefits

(Important to have an owner’s engineer)

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 Popular Financial Models
 Leased
 50% to 100% 3rd party funded
 Agreements could be of shorter duration 5 to 10 years

 O&M in developer scope

(Same aspects as RESCO)

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 Popular Financial Models
 COPEX
 50% to 75% 3rd Party funded
 Assets in consumer books

 PPA of 12 to 15 years

 Tax benefits in power consumer scope

 O&M in developer scope

(Customized)

Other customized models possible too…

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 Is OPEX the best financial model?

I always thought OPEX is

the best financial model !

Which is the best

financial model for
my Company?
What is the next step?

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EMERGING TECHNOLOGIES IN
PV SOLAR
 Emerging Technologies

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 Emerging Technologies
 Gradual shift from Thin to Poly-crystalline to Mono-
crystalline
 Reduced degradation
 Enhanced inverter technologies

 Improved Efficiency + Lowering Cost

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 Emerging Technologies
 PV Module Technologies
 Bi-facial
 Dual-sided Panels

 PERC
 Passivated Emitter Rear Cell

 Half-cut, Optimizers etc.

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POPULAR MYTHS ABOUT PV SOLAR
 Popular myths about PV Solar

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 Popular myths about PV Solar
 MYTH #1 – Industrial Plants and Manufacturing
Units still reluctant to go Solar because there is a
perception that PV Solar prices may fall further.

 FACT – PV Solar prices have remain stable for last

1+ year and are not likely to fall further.

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 Popular myths about PV Solar
 MYTH #2 – Emerging technology means better
efficiency is likely to hit the markets soon.

 FACT – It is true that PV Solar is an established

technology with advancements but any new
development will take years to become
commercially acceptable / viable. Presently the
technology offers 18% to 20% module level
efficiency while PLF remains largely unaffected
even with increasing module efficiency.
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 Popular myths about PV Solar
 MYTH #3 – Utility / Grid power prices will fall in
future and Solar power will become expensive

 FACT – India is a growing Country with increasing

power demand. Power prices are not likely to come
down in foreseeable future. Moreover with ~70%
power still from coal the utility / grid power prices
are not likely to fall while power from Solar will
always remain cheaper.

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 Conclusion

Solar is gaining immense popularity and businesses have

to plan for Solar to
A. Save Cost
B. Go Green
C. Stay relevant

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THANK YOU !