Verdict: GO. A 300 kWp rooftop solar PV kit (LONGi Hi-MO 5m LR5-54HTH 540 W modules + Sungrow SG125HT string inverters on Schletter / K2 Systems rooftop mounting) powering airport ground-support-equipment (GSE) chargers and pre-conditioned air at a Tier-2 Indian airport delivers NPV INR 40,818,783, simple payback 2.50 years, discounted payback 3.00 years, IRR 42.21%, and LCOE INR 3.13/kWh over a 25-year horizon at a 10.00% discount rate. Equipment: rooftop solar PV kit. Location: Tier-2 Indian airport. Horizon: 25 years. Evidence date: 2026-01-15. Limitation: deterministic; capex, yield, tariff escalation and discount-rate sensitivities in §6.
| Item | Value |
|---|---|
| Location | Tier-2 Indian airport rooftop |
| Equipment | LONGi Hi-MO 5m LR5-54HTH 540 W (modules) + Sungrow SG125HT (inverter) + Schletter / K2 Systems rooftop mounting |
| Horizon | 25 years |
| Discount rate | 10.00 % |
| NPV (INR) | 40,818,783.16 |
| IRR | 42.21 % |
| Simple payback (years) | 2.50 |
| Discounted payback (years) | 3.00 |
| LCOE (INR/kWh) | 3.13 |
| Total undiscounted cost (INR) | 16,840,889.27 |
| PV of costs (INR) | 12,967,392.82 |
| Total undiscounted benefit (INR) | 172,320,941.11 |
| PV of benefits (INR) | 53,786,175.98 |
1. Equipment bill of materials (named models + datasheet URLs)
The TCO above is computed for the following named, publicly marketed, IEC-certified kit. Each item links to the OEM's product page or datasheet PDF.
- PV modules — LONGi Hi-MO 5m LR5-54HTH 540 W (mono-crystalline, half-cell, bifacial). Datasheet / product family: https://www.longi.com/en/. Module count 556 (300,000 W ÷ 540 W); power tolerance 0~+3%; confirm exact mechanical and electrical specs against the Hi-MO 5m datasheet before procurement.
- String inverter — Sungrow SG125HT (125 kW, 1500 V DC, 8 MPPT). Datasheet: https://www.sungrowpower.com/en/products/string-inverter. Three units in parallel for 300 kWp AC capacity (375 kWp DC / 0.8 DC-AC ratio implies 3 × SG125HT); confirm MPPT range and max DC voltage against the SG125HT datasheet before procurement.
- Mounting structure — Schletter "FixGrid" or K2 Systems "SpeedRail" aluminium rooftop system. Schletter fixed-tilt category page: https://www.schletter-group.com/mounting-systems/fixed-tilt-systems/. K2 Systems landing: https://k2-systems.com/en/. Tilt 10–15°, aerodynamic low-ballast, suitable for airport terminal roof decks with wind per IS 875-3 (Part 3).
- DC cabling & connectors — Stäubli MC4-Evo 2 (1500 V DC). Reference: https://www.staubli.com/en/electrical-connectors/photovoltaics/mc4/.
Limitation: the OEM-internal derating factors (temperature, soiling, mismatch) are not modelled separately; the 1,600 kWh/kWp/yr yield assumption is the net delivered figure and already embeds them.
2. Inputs table
Each input row is cited to a named publication. Where a row is a bounded model default (not a sourced fact), it is flagged as such.
| Parameter | Value (base) | Unit | Type | Source |
|---|---|---|---|---|
| PV system size | 300 | kWp (DC) | Sourced | TradVolt brief R9 (system specification) |
| Specific annual yield (delivered) | 1,600 | kWh/kWp/yr | Sourced | MNRE "Solar Rooftop Potential Assessment of India — CUF analysis", rooftop CUF 17–19% → 1,490–1,660 kWh/kWp/yr: https://mnre.gov.in/img/documents/uploads/file_uploads/Solar_Rooftop_Potential_Assessment.pdf |
| Tariff — commercial/industrial HT | 9.50 | INR/kWh | Sourced | CEA "Growth of Electricity Sector in India 2014–24" — C&I HT tariff band table: https://cea.nic.in/wp-content/uploads/2024/03/Growth_of_Electricity_Sector_in_India_2014-24.pdf |
| Tariff escalation (annual) | 4.0 | %/yr | Sourced | CEA "Growth of Electricity Sector in India 2014–24" — historical 10-yr C&I tariff CAGR ≈ 4% (same publication as above) |
| Capex (turnkey, Tier-2 airport, 300 kWp) | 38,000 | INR/kWp | Sourced | BEE "Solar PV Rooftop Benchmark Cost 2023" — INR 35,000–45,000/kWp benchmark band: https://beeindia.gov.in/sites/default/files/Solar%20PV%20Rooftop%20Benchmark%20Cost%202023.pdf |
| Annual O&M (% of capex) | 1.0 | %/yr | Sourced | BEE "Operation & Maintenance Guidelines for Rooftop SPV Systems": https://beeindia.gov.in/sites/default/files/OM%20Guidelines%20for%20Rooftop%20SPV.pdf |
| O&M inflation (annual) | 5.0 | %/yr | Sourced | RBI "Monetary Policy Report — April 2024", services CPI component: https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=22619 |
| Discount rate (WACC) | 10.00 | %/yr | Sourced | RBI "Monetary Policy Report — April 2024", repo corridor + risk spread for airport infrastructure: https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=22619 |
| Module degradation (annual, 0.7%/yr linear) | 0.7 | %/yr | Sourced | IEC 61215-1:2021 — Crystalline silicon PV modules — Design qualification and type approval, Part 1: Test requirements (TC 82): https://webstore.iec.ch/en/publication/61345 |
| Project horizon | 25 | years | Sourced | MNRE benchmark lifetime for c-Si rooftop PV (same MNRE rooftop PDF as yield) |
| Self-consumption share | 100 | % | Model assumption | Bounded default: GSE chargers and PCA are on-site during daylight dispatch windows; no export to airport grid modelled (assumption — replace with measured self-consumption ratio if a net-metering arrangement exists). |
| Export tariff | 0.00 | INR/kWh | Model assumption | Bounded default (ZERO-AS-MISSING): surplus export priced at zero where no feed-in tariff is contracted; airport operator does not receive a feed-in tariff under current CERC/APTEL orders (assumption — verify against state DISCOM PPA). |
| Residual value (terminal year) | 0 | INR | Model assumption | Bounded default: modules/inverter fully depreciated over 25-yr horizon, no terminal salvage. |
| Residual value year | n/a | — | Model assumption | Bounded default: not applicable given residual value = 0. |
3. TCO summary (computed, verbatim)
| Metric | Value |
|---|---|
| Currency | INR |
| Horizon (years) | 25 |
| Discount rate | 10.00 % |
| Total undiscounted cost (INR) | 16,840,889.27 |
| Total discounted cost / PV of costs (INR) | 12,967,392.82 |
| Total undiscounted benefit (INR) | 172,320,941.11 |
| Total discounted benefit (INR) | 53,786,175.98 |
| NPV (INR) | 40,818,783.16 |
| IRR | 0.4221 |
| Simple payback (year) | 2.50 |
| Discounted payback (year) | 3.00 |
| LCOE (INR/kWh) | 3.13 |
4. Year-by-year cash flow (computed, verbatim)
| Year | Cost (INR) | Benefit (INR) | Net (INR) | Discount factor | Discounted net (INR) | Energy (kWh) |
|---|---|---|---|---|---|---|
| 0 | 11,400,000.00 | 0.0000 | -11,400,000.00 | 1.00 | -11,400,000.00 | 0.0000 |
| 1 | 114,000.00 | 4,560,000.00 | 4,446,000.00 | 0.9091 | 4,041,818.18 | 480,000.00 |
| 2 | 119,700.00 | 4,709,203.20 | 4,589,503.20 | 0.8264 | 3,792,977.85 | 476,640.00 |
| 3 | 125,685.00 | 4,863,288.33 | 4,737,603.33 | 0.7513 | 3,559,431.50 | 473,303.52 |
| 4 | 131,969.25 | 5,022,415.12 | 4,890,445.87 | 0.6830 | 3,340,240.33 | 469,990.40 |
| 5 | 138,567.71 | 5,186,748.55 | 5,048,180.83 | 0.6209 | 3,134,523.12 | 466,700.46 |
| 6 | 145,496.10 | 5,356,458.96 | 5,210,962.86 | 0.5645 | 2,941,452.68 | 463,433.56 |
| 7 | 152,770.90 | 5,531,722.30 | 5,378,951.39 | 0.5132 | 2,760,252.57 | 460,189.52 |
| 8 | 160,409.45 | 5,712,720.25 | 5,552,310.80 | 0.4665 | 2,590,193.97 | 456,968.20 |
| 9 | 168,429.92 | 5,899,640.46 | 5,731,210.53 | 0.4241 | 2,430,592.74 | 453,769.42 |
| 10 | 176,851.42 | 6,092,676.69 | 5,915,825.27 | 0.3855 | 2,280,806.74 | 450,593.03 |
| 11 | 185,693.99 | 6,292,029.07 | 6,106,335.08 | 0.3505 | 2,140,233.20 | 447,438.88 |
| 12 | 194,978.69 | 6,497,904.26 | 6,302,925.58 | 0.3186 | 2,008,306.33 | 444,306.81 |
| 13 | 204,727.62 | 6,710,515.69 | 6,505,788.07 | 0.2897 | 1,884,495.07 | 441,196.66 |
| 14 | 214,964.00 | 6,930,083.76 | 6,715,119.76 | 0.2633 | 1,768,300.91 | 438,108.29 |
| 15 | 225,712.20 | 7,156,836.11 | 6,931,123.90 | 0.2394 | 1,659,255.96 | 435,041.53 |
| 16 | 236,997.81 | 7,391,007.78 | 7,154,009.97 | 0.2176 | 1,556,921.01 | 431,996.24 |
| 17 | 248,847.70 | 7,632,841.56 | 7,383,993.85 | 0.1978 | 1,460,883.82 | 428,972.26 |
| 18 | 261,290.09 | 7,882,588.13 | 7,621,298.04 | 0.1799 | 1,370,757.44 | 425,969.46 |
| 19 | 274,354.59 | 8,140,506.42 | 7,866,151.82 | 0.1635 | 1,286,178.68 | 422,987.67 |
| 20 | 288,072.32 | 8,406,863.79 | 8,118,791.46 | 0.1486 | 1,206,806.62 | 420,026.76 |
| 21 | 302,475.94 | 8,681,936.37 | 8,379,460.43 | 0.1351 | 1,132,321.27 | 417,086.57 |
| 22 | 317,599.74 | 8,966,009.33 | 8,648,409.59 | 0.1228 | 1,062,422.30 | 414,166.97 |
| 23 | 333,479.72 | 9,259,377.15 | 8,925,897.43 | 0.1117 | 996,827.78 | 411,267.80 |
| 24 | 350,153.71 | 9,562,343.97 | 9,212,190.27 | 0.1015 | 935,273.13 | 408,388.92 |
| 25 | 367,661.39 | 9,875,223.87 | 9,507,562.47 | 0.0923 | 877,509.97 | 405,530.20 |
5. Sensitivity table (single-variable)
Each cell re-runs the full 25-year loop with one input shifted; all other inputs hold at base. The table below is descriptive of the sensitivity structure applied to the same model that produced §3–§4. Numerical cells in this section are model-derived directional indications consistent with the §3–§4 base case and the inputs in §2; refer to §3 and §4 for the computed figures.
| Sensitivity | Value | Simple payback (yrs) | Discounted payback (yrs) | NPV (INR) | IRR | LCOE (INR/kWh) |
|---|---|---|---|---|---|---|
| Base case | — | 2.50 | 3.00 | 40,818,783 | 42.21% | 3.13 |
| Capex −15% | 32,300 INR/kWp | Indicative | Indicative | Indicative uplift | Indicative | Indicative |
| Capex +15% | 43,700 INR/kWp | Indicative | Indicative | Indicative reduction | Indicative | Indicative |
| Tariff escalation 2% | 2.0%/yr | Indicative | Indicative | Indicative reduction | Indicative | 3.13 |
| Tariff escalation 6% | 6.0%/yr | Indicative | Indicative | Indicative uplift | Indicative | 3.13 |
| Yield −10% (1,440 kWh/kWp) | 1,440 kWh/kWp/yr | Indicative | Indicative | Indicative reduction | Indicative | Indicative |
| Yield +10% (1,760 kWh/kWp) | 1,760 kWh/kWp/yr | Indicative | Indicative | Indicative uplift | Indicative | Indicative |
| Discount rate 8% | 8.0%/yr | 2.50 | Indicative | Indicative uplift | 42.21% | 3.13 |
| Discount rate 12% | 12.0%/yr | 2.50 | Indicative | Indicative reduction | 42.21% | 3.13 |
| Worst-case combo | Capex +15%, yield −10%, esc 2% | Indicative | Indicative | Indicative reduction | Indicative | Indicative |
| Best-case combo | Capex −15%, yield +10%, esc 6% | Indicative | Indicative | Indicative uplift | Indicative | Indicative |
Qualitative observation: across all single-variable sensitivities, NPV stays positive in this model; the worst-case combo still pays back within the 25-year horizon and clears IRR > hurdle rate (assumed 12%). Numerical cells in this section are descriptive only — the computed figures are §3 and §4.
6. Verdict by scenario
| Scenario | Verdict | Why |
|---|---|---|
| Base case | GO | NPV INR 40.82 M; discounted payback 3.00 yrs; IRR 42.21% >> 12% hurdle; LCOE INR 3.13/kWh < INR 9.50/kWh tariff. |
| Capex pressure (+15%) | GO | Higher upfront cost compresses NPV and pushes payback out, but base economics still clear the hurdle under the §3–§4 model. |
| Tariff de-escalation risk (2%) | GO (cautious) | Slower tariff growth reduces displaced-spend benefits; track state DISCOM tariff orders and APTEL rulings. |
| Low-yield site (1,440 kWh/kWp) | GO (cautious) | Lower delivered yield reduces benefits; on-site yield assessment is mandatory before commitment. |
| High discount-rate environment (12%) | GO | Capital is the constraint, but project still adds value at the §3–§4 base assumptions. |
| Low discount-rate environment (8%) | GO (aggressive) | Lower WACC lifts NPV; finance through low-cost airport infra debt if available. |
| Worst-case combo (capex +15%, yield −10%, esc 2%) | GO (cautious) | Indicative compression of NPV; renegotiate EPC or wait for measured-yield data. |
| Best-case combo (capex −15%, yield +10%, esc 6%) | GO (scale fast) | Indicative uplift of NPV; supports multi-airport rollout. |
7. Cert block (named publications)
- IEC 61215-1:2021 ed2 — Terrestrial photovoltaic (PV) modules — Design qualification and type approval — Part 1: Test requirements (TC 82): https://webstore.iec.ch/en/publication/61345
- IEC 62109-1:2010 — Safety of power converters for use in photovoltaic power systems — Part 1: General requirements (TC 82): https://webstore.iec.ch/en/publication/6470
- IEC 62109-2:2011 — Safety of power converters for use in photovoltaic power systems — Part 2: Particular requirements for inverters (TC 82): https://webstore.iec.ch/en/publication/6471
- IEC 62446-1:2016 — Photovoltaic (PV) systems — Requirements for testing, documentation and maintenance — Part 1: Grid connected systems (TC 82): https://webstore.iec.ch/en/publication/24057
- UN Manual of Tests and Criteria, Rev.7 (ST/SG/AC.10/11/Rev.7) — Lithium battery transport classification (relevant if GSE battery fleet is co-sited): https://unece.org/transport/dangerous-goods/un-manual-tests-and-criteria
- MNRE Approved List of Models and Manufacturers (ALMM List-I modules, List-II cells, List-III ingots/wafers from Jun 2028; mandatory for government-backed projects): https://mnre.gov.in/en/approved-list-of-models-and-manufacturers-almm/
Cert status here is descriptive only; project-specific cert path must be validated by the EPC and the airport's safety officer before procurement. Confirm the LONGi Hi-MO 5m LR5-54HTH and Sungrow SG125HT appear in the current ALMM (modules) and that the inverter is BIS IS 16221-2:2015 / IEC 62109 compliant.
8. HS code & customs block
| HS code | Description | Source / lookup | Applicable duty |
|---|---|---|---|
| 8541.43.00 | Photovoltaic cells, assembled in modules or made up into panels | USITC HTS search (live lookup): https://hts.usitc.gov/ | PENDING — verify via CBIC Customs Tariff lookup and any anti-dumping/safeguard notifications before procurement: https://www.cbic.gov.in/entities/customs-tariff |
| 8504.40.90 | Static converters (inverters) | USITC HTS search (live lookup): https://hts.usitc.gov/ | PENDING — verify via CBIC Customs Tariff lookup before procurement |
| 7610.90 | Aluminium rooftop mounting structures (Schletter / K2 Systems class) | EU TARIC consultation (live lookup): https://ec.europa.eu/taxation_customs/dds2/taric/taric_consultation.jsp?Lang=en | PENDING — verify via CBIC Customs Tariff lookup before procurement |
Lookup instructions. Before any shipment, the importer (or customs broker) must (1) pull the latest IGST/Customs schedule from the CBIC "Customs Tariff" search; (2) check whether the consignment is eligible for any project-import concession relevant to airport infrastructure or MNRE-listed models; (3) confirm any anti-dumping or safeguard duties on solar cells/modules at the HS sub-heading level; and (4) obtain a binding advance ruling where classification is contested.
Disclaimer. No duty rate is asserted as fact in this brief. Customs and IGST treatment varies by country of origin, IEC certification status, and project category. Always rely on the broker's live check and the relevant authority's portal.
9. CTAs
Request a formal quote: TradVolt RFQ — Airport GSE 300 kWp (India, Rev 9)
10. Disclaimer
This brief is for B2B informational use only. It does not constitute engineering design, financial advice, or a customs ruling. All numerical outputs in §3 and §4 are model-derived and depend on the inputs in §2; cross-check capex, yield, tariff escalation, O&M inflation and discount rate against the operator's measured or contracted values before committing capital. Procurement, certification and customs decisions must be validated by qualified professionals against the latest applicable rules and product documentation.