BENEFITS OF RENEWABLE ENERGY AS AN ADDITIONAL SOURCE OF ENERGY FOR INSTITUTIONS : A CASE OF GKVK
India depends heavily on fossil fuel for its energy needs. As the population grows, the need for energy is intensifying every day. Our country is facing acute energy shortage, which is hampering its industrial growth and economic progress. India imports 70% of its annual crude petroleum requirements. The catastrophic effect of fossil fuel, such as green house gas emissions, has brought in climate changes beyond repair. The nation has to look into long-term measures to increase energy security
... e energy security and reduce the dependence on fossil fuel. The oil crisis of 1973, the depleting oil resources, political and economic instability of energy producing countries has led the nation to look positively towards renewable energy as a source of clean green energy. Energy, which is clean, reliable and environment friendly are critical driver for long-term development and sustainable growth in any country as it can create opportunities and has great potential for growth in the future. This paper provides an insight on the solar photo voltaic system commissioned in the Gandhi Krishi Vignana Kendra [GKVK], the University of Agricultural Science in Bangalore. The study provides the cost-benefit analysis of the system, the economic and environmental viability as an energy saving alternative. The benefits of Solar Photovoltaic solutions to complement the original power as an additional source of energy is studied here. The result generated includes savings, two year of power generation, the efficiency and degradation factor of the system, pay back period, internal rate of return and net present value of the system.