Solar Plate: An Overview
Feb 26, 2022
6 min read
With over 3 million electric vehicles (EVs) already on Indian roads and government targets aiming for 30% EV adoption by 2030, the demand for reliable and sustainable EV charging infrastructure is skyrocketing. This growing market presents a huge business opportunity, especially when combined with solar power, which can help tackle rising electricity costs and promote clean mobility.
So, ever thought about turning sunlight into money while helping India go electric? Let’s explore how it’s possible through this blog.
Why EV Charging Needs Solar Power: Tackling High Electricity Costs
One of the main challenges for EV charging station operators is the electricity cost. Running multiple chargers all the time can be costly, especially with changing grid tariffs. This is where solar panels can help:
Reduced operational costs: By generating your own electricity via solar panels, you can significantly cut down on power bills.
Eco-friendly solution: Solar power produces zero emissions, aligning with India’s push for sustainable mobility.
Energy independence: Charging stations in remote or semi-urban areas can rely on solar power without depending solely on the grid.
How Solar Panels Integrate with EV Charging Stations
It’s a simple yet powerful process:
Panels are installed on the station rooftop, nearby land, or canopy structures over parking areas.
Solar energy is converted into electricity using inverters. Surplus energy can be stored in batteries for nighttime or cloudy-day usage.
Advanced software ensures efficient energy distribution, prioritizing solar power usage before drawing from the grid.
For example:Picture a shopping mall with solar panels on its rooftop and EV chargers in the parking area. Visitors charge their cars while shopping, the mall saves on electricity bills, and the sun powers it all, turning sunlight into both energy and business advantage.
Business Opportunities: Revenue Models & Partnerships in Solar EV Charging
With EV adoption on the rise, the market is expected to grow exponentially over the next decade, and solar-powered charging can make your venture both sustainable and profitable.
Some key revenue models include:
Public charging stations: Set up at malls, fuel stations, or parking lots.
Private stations: For corporate offices or residential societies.
Hybrid models: Use solar energy during the day and switch to the grid when needed, ensuring chargers are always available.
Revenue streams can include pay-per-charge, subscription plans for regular users, corporate partnerships, and even advertising at high-footfall locations.
Partnering with solar panel providers, EV manufacturers, and financial institutions can further reduce setup costs and make the project more viable.
In short, whether it’s serving the public, powering corporate offices, or creating a hybrid system, the opportunities are as bright as the sun powering them.
ROI & Payback Period: Cost, Subsidies, and Financing Options
Setting up a solar-powered EV charging station requires an initial investment in panels, inverters, and chargers.
EV Charging Station Cost Breakdown:
Cost/Consideration | Description | Approx. Cost / Fact |
Equipment | Includes charging stations, cables, and connectors. | ₹1.5 lakh - ₹5 lakh per unit |
Installation | Site preparation, electrical work, and charging station setup. | ₹50,000 - ₹2 lakh per unit |
Network Connection | Required for remote monitoring and management of chargers. | ₹20,000 - ₹50,000 per unit |
Permitting & Compliance | Obtaining permits and following regulations. | Varies by location |
Land / Real Estate | Cost of purchasing or leasing land for the station. | Varies by location |
Operation & Maintenance | Regular maintenance, repairs, and operational expenses. | ₹10,000 - ₹20,000 per month |
Charging Tariffs | Electricity cost per unit for EV charging. | As per local electricity rates |
Marketing & Promotion | Promoting the station to attract users. | Varies by strategy |
Additional Services | Optional services like parking, Wi-Fi, or convenience stores. | Varies by services |
Solar Panel Installation Costs & Subsidies
System Size | Total Cost (INR) | Central Subsidy | State Subsidy | Net Cost After Subsidy |
1 kW | ₹75,000 – ₹85,000 | ₹30,000 | ₹15,000 | ₹30,000 – ₹40,000 |
2 kW | ₹1.5 lakh – ₹1.7 lakh | ₹60,000 | ₹30,000 | ₹60,000 – ₹80,000 |
3 kW | ₹1.89 lakh – ₹2.15 lakh | ₹78,000 | ₹30,000 | ₹81,000 – ₹1.05 lakh |
5 kW | ₹2.52 lakh – ₹2.85 lakh | ₹78,000 | ₹30,000 | ₹1.74 lakh – ₹2.07 lakh |
10 kW | ₹5.31 lakh – ₹6.07 lakh | ₹78,000 | ₹30,000 | ₹4.23 lakh – ₹4.99 lakh |
Note: State subsidies vary by region. For instance, Uttar Pradesh offers an additional ₹15,000 per kW for systems between 1–2 kW, and ₹30,000 for systems ≥2 kW
Financing Options for EV Charging Stations
Financing Option | Description | Details |
SBI EV Mitra | Loan facility for setting up EV charging infrastructure. | Loans ranging from ₹10 lakh to ₹5 crore for public/private charging stations ( SBI ). |
Bank Loans | Traditional loans from banks like HDFC, ICICI, and BOI. | Offers competitive interest rates and flexible repayment terms. |
Leasing | Leasing options for EV chargers. | Allows businesses to avoid large upfront costs. |
Vendor Financing | Financing through Original Equipment Manufacturers (OEMs). | Often includes maintenance and support services. |
Government Grants | Grants under schemes like PM E-DRIVE. | ₹2,000 crore allocated for expanding public EV charging stations nationwide ( Bolt Earth ). |
ROI & Payback Period
Average Payback Period: 4-7 years, depending on factors like location, usage, and scale.
Revenue Streams:
Pay-per-use: Charging fees per unit of electricity.
Subscription Models: Monthly or annual plans for regular users.
Partnerships: Collaborations with malls, offices, and other establishments.
Advertising: Revenue from advertising at charging stations.
Note: The actual payback period may vary based on local demand, electricity tariffs, and operational efficiency.
Future Prospects: Growth of EV + Solar Infrastructure in India
India is rapidly moving toward electric mobility, with companies like Tata, MG, and Ola Electric expanding aggressively. By 2030, over 30% of vehicles on Indian roads are expected to be electric, creating massive demand for EV charging stations. At the same time, solar power is becoming cheaper and more efficient, making it the perfect match for charging stations.
JJ PV Solar provides high-quality solar panels along with comprehensive EPC services and end-to-end support. They make it easy for businesses to establish reliable, sustainable, and profitable EV charging stations. From highways to malls, offices, and apartments, partnering with JJ PV Solar ensures your station is ready for the future - good for the planet and good for business.
