Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Indian Oil Corporation Targets 10,000 Solar-Powered Fuel Stations

One of India’s largest oil marketing companies is set to increase the number of solar-powered petrol pumps from 2,000 to 10,000.

Indian Oil solar rooftop solar power petrol pumps

Indian Oil Corporation operates 24,000 petrol pumps across India. 2,000 of these are equipped with rooftop solar power systems. The company now plans to increase this number to 10,000 over the next 2–3 years.

The main reason behind the massive revamp of power supply is the demand and supply gap that exists in the Indian power grid. The company wants to free up electricity for rural areas, a high-ranking official claimed. One retail outlet switching to solar power would free up enough electricity to power 60 households in rural areas.

The economics of the entire project, however, is also huge incentives. Petrol pumps are commercial entities and attract some of the highest electricity tariffs among all consumer segments.

Putting up a 24 kW solar power system would cost around ₹17 lakhs (~$26,000) and lead to savings of ₹7 lakhs (~$10,700) per year, the company claims. At this rate, the solar power system should fully pay for itself in less than three years, which is less than most utility-scale solar power projects in India.

The company is also planning to set up similar projects at other facilities, including terminals and storage depots. It may also consider selling surplus electricity to the grid under a feed-in tariff regime.

Public-sector companies have been asked to significantly boost their investment in and uptake of renewable energy. While some are planning large solar parks, companies with financial constraints, like IOC, are considering other nifty ways to generate low-cost clean electricity.

Image Credit: Bernard Gagnon | CC-BY-SA 3.0


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

Mridul currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

The Indian government has announced a new incentive scheme to boost manufacturing in the solar power sector. Through this scheme, the government plans to...

Clean Power

One of India’s largest renewable energy generation companies, Adani Green Energy, has reported stellar financial performance during the first quarter of this year. According...

Clean Power

One of India’s largest renewable power companies, Tata Power Renewable Energy, has secured the rights to develop a large solar power project. According to...

Agriculture

The Indian state of Maharashtra has issued a tender for the installation of 1.3 gigawatts of solar power projects. According to media reports, the...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.