Economic Feasibility Analysis of Solar PV Generation at REC Ambedkar Nagar

Electrical energy is the basic need of the day. Most of the electrical energy generation is by using fossil fuels. The store of fossil fuel is limited and the consumption of electrical energy is unlimited throughout the world which is responsible for the cause of the energy crisis. To overcome the problem of energy crisis there is a need for utilizing the renewable sources with maximum efficiency of conversion. The utilization of renewable energy sources is furthermore advantageous for environmental safety as they mitigate the production of the CO
2
and other greenhouse gases to the atmosphere. Sources of renewable energy are solar energy, wind energy, hydro energy, geothermal energy, and biomass. The solar photovoltaic system is widely adopted throughout the world for eco-friendly electricity generation. This paper describes the economic feasibility analysis for PV generation at Rajkiya Engineering College, Ambedkar Nagar, UP, India.