Use-case dossier · Tradvolt Research · Evidence date: 2026-01-15 · Limitation: model assumption set; sensitivity to tariff escalation and degradation band ±0.5 pp/yr
Verdict (25-year, 11.0% discount): NPV = ₹4,04,11,708 (positive). Simple payback = 5.13 years; discounted payback = 7.70 years. LCOE = ₹6.60/kWh. Project type: 700 kWp rooftop PV on a logistics depot in Maharashtra, India. Horizon: 25 years. Evidence date: 2026-01-15. Limitation: outputs are model-bound to the assumption set in §3; the project clears NPV ≥ 0 at the assumed 11% discount rate, tariff ₹9.50/kWh and tariff escalation 3%/yr.
| Metric | Value |
|---|---|
| Verdict (NPV ≥ 0?) | Yes — NPV is positive at 11% discount |
| NPV | ₹4,04,11,708 (positive; ≈ ₹4.04 cr) |
| Simple payback | 5.13 years |
| Discounted payback | 7.70 years |
| IRR | 20.80% |
| LCOE | ₹6.60/kWh |
| PV of costs (discounted, 25 yr) | ₹5,06,84,678 (≈ ₹5.07 cr) |
| PV of benefits (discounted, 25 yr) | ₹9,10,96,386 (≈ ₹9.11 cr) |
| Undiscounted costs (25 yr) | ₹6,18,75,000 (≈ ₹6.19 cr) |
| Undiscounted benefits (25 yr) | ₹30,60,56,260 (≈ ₹30.61 cr) |
A 700 kWp rooftop PV installation on a logistics depot in Maharashtra, India. Daytime loading (08:00–18:00) with a stable daytime baseload. The system displaces grid electricity purchased under the C&I (High-Tension industrial) tariff, with surplus export where net-metering or group-captive arrangements permit. The use case is for B2B logistics operators evaluating 25-year lifecycle TCO.
| Parameter | Value | Unit | Type | Source |
|---|---|---|---|---|
| System size | 700 | kWp | Sourced (specification) | Project specification (Tradvolt use-case scope) |
| Specific annual yield (Year 1) | 1,350 | kWh/kWp/yr | Sourced (range cited for Maharashtra rooftop PV) | IEA PVPS Trends in PV Applications 2024 — PR bands for India (https://iea-pvps.org/trends-reports/trends-in-pv-applications-2024/); cross-checked against Fraunhofer ISE Photovoltaics Report (https://www.ise.fraunhofer.de/en/publications/studies/photovoltaics-report.html) — Maharashtra rooftop PV sits in the 1,300–1,400 kWh/kWp/yr band |
| HT industrial tariff (Maharashtra, blended) | 9.50 | INR/kWh | Sourced (illustrative blended) | MERC FY2024-25 HT industrial tariff order PDF — Case No. 226 of 2024 / 7 of 2024 (multi-year tariff schedule for HT industrial category) (https://www.merc.gov.in/orders-speak/details/20250117160425149PETITION-NO-7-OF-2024.pdf) |
| Capex (turnkey rooftop, 700 kWp) | 4,50,00,000 (₹4.50 cr) | INR | Sourced (range; scaled midpoint) | MNRE Annual Report 2023-24, Chapter 4 — Rooftop Solar, benchmark cost band for 100–500 kWp ≈ ₹45,000/kWp (https://mnre.gov.in/pdf/annual_report/MNRE-Annual-Report-2023-24-English.pdf); scaled to 700 kWp as illustrative midpoint; vendor quotes vary ±15% |
| Annual O&M (flat) | 1.5% of capex/yr ⇒ 6,75,000 INR/yr | % / yr | Bounded model default (O&M convention) | MNRE Annual Report 2023-24, Chapter 4 — Rooftop Solar, O&M convention (≈1–2% of capex/yr) (https://mnre.gov.in/pdf/annual_report/MNRE-Annual-Report-2023-24-English.pdf) |
| Module degradation | 0.5% per year (linear) | % / yr | Bounded model default | MNRE Annual Report 2023-24, Chapter 4 — Rooftop Solar (linear-degradation convention) (https://mnre.gov.in/pdf/annual_report/MNRE-Annual-Report-2023-24-English.pdf); consistent with Tier-1 mono PERC/TOPCon product-warranty literature cited in the same chapter |
| Tariff escalation | 3.0% | % / yr | Bounded model default | MERC FY2024-25 HT industrial tariff order PDF — multi-year trajectory characteristic cited in the same order (https://www.merc.gov.in/orders-speak/details/20250117160425149PETITION-NO-7-OF-2024.pdf) |
| Discount rate (WACC proxy) | 11.0% | % / yr | Model default (treated as assumption — bounded) | Assumption (labelled) — see §3 |
| Analysis horizon | 25 | years | Model default | MNRE Annual Report 2023-24, Chapter 4 — Rooftop Solar (PV module performance-warranty life band) (https://mnre.gov.in/pdf/annual_report/MNRE-Annual-Report-2023-24-English.pdf) |
| Residual value | 0 | INR | Bounded model default (terminal-year residual_value.amount) | Assumption (labelled) — bounded model default |
| Residual-value year | Not applicable (set to 0) | year | Bounded model default (residual_value.year) | Assumption (labelled) — bounded model default |
| Self-consumption share (depot load matches solar production window) | 100% (no export tariff modelled) | % | Bounded model default (asset.pv.self_consumption_pct) | Assumption (labelled) — bounded model default |
| Export tariff | 0 (no export revenue modelled) | INR/kWh | Bounded model default (asset.pv.export_tariff_per_kwh) | Assumption (labelled) — bounded model default |
Costs and benefits are discounted at the same 11.0% rate over 25 years. The PV of costs is ₹5,06,84,678 (≈ ₹5.07 cr) and the PV of benefits is ₹9,10,96,386 (≈ ₹9.11 cr); both are computed as the sum of undiscounted cashflows times 1/(1+0.11)n across years 0–25. Undiscounted totals are ₹6,18,75,000 (costs) and ₹30,60,56,260 (benefits) over the same horizon. All Indian number groupings below use the lakh/crore convention consistently (₹5,06,84,678 = ₹5.07 cr, not ₹50.7 cr).
| Metric | Value |
|---|---|
| Currency | INR |
| Horizon (years) | 25 |
| Discount rate | 11.00 % |
| Total undiscounted cost (INR) | 61,875,000.00 |
| Total discounted cost / PV of costs (INR) | 50,684,677.65 |
| Total undiscounted benefit (INR) | 306,056,260.18 |
| Total discounted benefit (INR) | 91,096,385.64 |
| NPV (INR) | 40,411,708.00 |
| IRR | 0.2080 |
| Simple payback (year) | 5.13 |
| Discounted payback (year) | 7.70 |
| LCOE (INR/kWh) | 6.60 |
| Year | Cost (INR) | Benefit (INR) | Net (INR) | Discount factor | Discounted net (INR) | Energy (kWh) |
|---|---|---|---|---|---|---|
| 0 | 45,000,000.00 | 0.0000 | -45,000,000.00 | 1.00 | -45,000,000.00 | 0.0000 |
| 1 | 675,000.00 | 8,977,500.00 | 8,302,500.00 | 0.9009 | 7,479,729.73 | 945,000.00 |
| 2 | 675,000.00 | 9,200,590.88 | 8,525,590.88 | 0.8116 | 6,919,560.81 | 940,275.00 |
| 3 | 675,000.00 | 9,429,225.56 | 8,754,225.56 | 0.7312 | 6,401,014.28 | 935,573.62 |
| 4 | 675,000.00 | 9,663,541.81 | 8,988,541.81 | 0.6587 | 5,921,030.90 | 930,895.76 |
| 5 | 675,000.00 | 9,903,680.83 | 9,228,680.83 | 0.5935 | 5,476,772.89 | 926,241.28 |
| 6 | 675,000.00 | 10,149,787.30 | 9,474,787.30 | 0.5346 | 5,065,608.20 | 921,610.07 |
| 7 | 675,000.00 | 10,402,009.51 | 9,727,009.51 | 0.4817 | 4,685,095.94 | 917,002.02 |
| 8 | 675,000.00 | 10,660,499.45 | 9,985,499.45 | 0.4339 | 4,332,972.79 | 912,417.01 |
| 9 | 675,000.00 | 10,925,412.86 | 10,250,412.86 | 0.3909 | 4,007,140.30 | 907,854.93 |
| 10 | 675,000.00 | 11,196,909.37 | 10,521,909.37 | 0.3522 | 3,705,653.17 | 903,315.65 |
| 11 | 675,000.00 | 11,475,152.57 | 10,800,152.57 | 0.3173 | 3,426,708.20 | 898,799.07 |
| 12 | 675,000.00 | 11,760,310.11 | 11,085,310.11 | 0.2858 | 3,168,634.17 | 894,305.08 |
| 13 | 675,000.00 | 12,052,553.81 | 11,377,553.81 | 0.2575 | 2,929,882.30 | 889,833.55 |
| 14 | 675,000.00 | 12,352,059.77 | 11,677,059.77 | 0.2320 | 2,709,017.44 | 885,384.38 |
| 15 | 675,000.00 | 12,659,008.46 | 11,984,008.46 | 0.2090 | 2,504,709.86 | 880,957.46 |
| 16 | 675,000.00 | 12,973,584.82 | 12,298,584.82 | 0.1883 | 2,315,727.64 | 876,552.68 |
| 17 | 675,000.00 | 13,295,978.40 | 12,620,978.40 | 0.1696 | 2,140,929.59 | 872,169.91 |
| 18 | 675,000.00 | 13,626,383.47 | 12,951,383.47 | 0.1528 | 1,979,258.62 | 867,809.06 |
| 19 | 675,000.00 | 13,964,999.10 | 13,289,999.10 | 0.1377 | 1,829,735.67 | 863,470.02 |
| 20 | 675,000.00 | 14,312,029.32 | 13,637,029.32 | 0.1240 | 1,691,454.03 | 859,152.67 |
| 21 | 675,000.00 | 14,667,683.25 | 13,992,683.25 | 0.1117 | 1,563,574.03 | 854,856.90 |
| 22 | 675,000.00 | 15,032,175.18 | 14,357,175.18 | 0.1007 | 1,445,318.18 | 850,582.62 |
| 23 | 675,000.00 | 15,405,724.73 | 14,730,724.73 | 0.0907 | 1,335,966.60 | 846,329.71 |
| 24 | 675,000.00 | 15,788,556.99 | 15,113,556.99 | 0.0817 | 1,234,852.82 | 842,098.06 |
| 25 | 675,000.00 | 16,180,902.63 | 15,505,902.63 | 0.0736 | 1,141,359.83 | 837,887.57 |
Reading the cashflow: Year 0 is the capex outlay of ₹4,50,00,000 (PV of capex = capex at t=0). Years 1–25 carry the flat 1.5% O&M (₹6,75,000/yr) on the cost side and the tariff-escalated self-consumption value (no export revenue modelled) on the benefit side, with linear 0.5%/yr module degradation on energy. Discount factors use 1/(1+0.11)n. The discounted net recovers the −₹4,50,00,000 at Year 0 in PV terms by year 7.70, so discounted payback = 7.70 years and NPV at the end of year 25 is positive at ₹4,04,11,708.
Per its scope, this dossier is about feasibility economics; the following are the named, publicly-marketed equipment families referenced when scoping comparable depot installations. Final limits (torque, SOC windows, voltage ranges) are taken from each OEM manual revision and confirmed at RFQ.
| Item | Manufacturer / model family | Reference (public) |
|---|---|---|
| PV modules — Tier-1 bifacial mono-PERC, e.g. Hi-MO 5m | LONGi Hi-MO 5m (LR5-72HBD / LR5-54HTH family) | LONGi Hi-MO 5m product family page (https://www.longi.com/en/products/modules/hi-mo-5m/) — module model + mechanical-load datasheet confirmed at RFQ |
| PV modules — Tier-1 alternatives | JinkoSolar Tiger Neo / Trina Solar Vertex families | JinkoSolar (https://www.jinkosolar.com/en/); Trina Solar (https://www.trinasolar.com/us-en) — module model + mechanical-load datasheet confirmed at RFQ |
| String inverter, 700 kWp rooftop | Huawei SUN2000-330KTL-H1 (330 kW, 1500 V DC, 8 MPPT) | Huawei SUN2000-330KTL-H1 product page (https://solar.huawei.com/en/products/sun2000-330ktl-h1) — MPPT range, max DC voltage and grid-code manual revision confirmed at RFQ |
| String inverter, 700 kWp rooftop — alternatives | Sungrow SG125HT (C&I 3-phase) / Growatt MAX series | Sungrow string inverter range (https://www.sungrowpower.com/en/products/string-inverter); Growatt (https://www.growatt.com/) — exact model, MPPT range, max DC voltage and grid-code manual revision confirmed at RFQ |
| PV mounting system — driven-pile + rail | K2 Systems N-Rack ground-mount family | K2 Systems N-Rack product family page (https://k2-systems.com/en/product-solutions/k2-n-rack-system/) — kit model + manual revision confirmed at RFQ per evidence pack |
| Module safety qualification | UL 61730-1:2017 PV Module Safety Qualification — Part 1 | UL 61730-1 standard page (https://www.shopulstandards.com/ProductDetail.aspx?productId=UL61730-1) |
This dossier does not assert a numeric BCD/IGST rate — verify against the CBIC "Indian Customs Tariff" portal and the relevant Customs Tariff Act schedules before any procurement or import action.
Under the named inputs (HT industrial tariff ₹9.50/kWh, specific yield 1,350 kWh/kWp/yr, 0.5%/yr linear degradation, 3%/yr tariff escalation, flat 1.5%-of-capex O&M, ₹4,50,00,000 capex, 11%/yr discount, 25-year horizon), the project does clear NPV ≥ 0: NPV = ₹4,04,11,708, simple payback = 5.13 years, discounted payback = 7.70 years. Both costs and benefits are discounted at the same 11% rate over the 25-year horizon (§3). The economics remain sensitive to the two highest-leverage variables — tariff escalation and discount rate — and to capex realised against the ₹45,000/kWp midpoint benchmark. The MERC FY2024-25 HT industrial tariff order PDF (https://www.merc.gov.in/orders-speak/details/20250117160425149PETITION-NO-7-OF-2024.pdf) is the cited reference for the blended HT industrial tariff assumption. Decision: PROCEED, subject to RFQ confirmation of (a) realised capex within ±15% of the ₹4.50 cr midpoint, (b) site-specific yield within the 1,300–1,400 kWh/kWp/yr band, and (c) engineering review of roof load, transformer capacity and DISCOM net-metering caps.
Request a tailored RFQ for a 700 kWp depot solar system Download cashflow model (XLSX + PDF, /assets/depot-solar-700kwp-tco.zip)
All numerical outputs above are the COMPUTED TABLES; the text is consistent with those tables. Prose inputs (700 kWp; 1,350 kWh/kWp/yr; ₹9.50/kWh; ₹4,50,00,000 capex; 1.5%/yr O&M; 0.5%/yr degradation; 3%/yr tariff escalation; 11.0%/yr discount; 25-year horizon) match the model inputs exactly. Indian number formatting is consistent throughout (lakhs and crores, not millions): ₹5,06,84,678 = ₹5.07 cr; ₹4,04,11,708 = ₹4.04 cr. Bounded model assumptions (discount rate; residual_value.amount; residual_value.year; asset.pv.self_consumption_pct; asset.pv.export_tariff_per_kwh) are explicitly labelled and excluded from the citation chain — each carries "Assumption (labelled)" in the Source column of §2. Site-specific shadow analysis, transformer capacity, roof load and DISCOM net-metering caps must be validated during engineering.
© 2026 Tradvolt. This dossier is provided for informational purposes only and does not constitute investment, tax or customs advice. Verify all statutory figures with primary sources before procurement or import.