India Targets 10,000 PV
Indian Oil Corporation is set to increase the number of solar-powered petrol pumps from 2,000 to 10,000 in 2017 by equipping rooftops with solar power systems.
The company operates 24,000 petrol pumps across India.
Indian Oil Corporation wants to free up electricity for rural areas. One retail outlet switching to solar power will free up enough electricity to power 60 households in the area.
ROI < 3 years
Putting up a 24 kW solar power system would cost around $ 26,000 and lead to savings of $10,700 per year. So the solar power system should fully pay for itself in less than 3 years!
The corporation is also planning to set up similar projects at other facilities, including terminals and storage depots.
Public sector companies have been asked to significantly boost their investment in and uptake of renewable energy by the India Government.
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