India’s energy scenario has changed in recent years. The Intended Nationally Determined Contribution (INDC) commitment towards climate change of reducing the emission to 0.604 kg/kWh has set the new target of renewable source capacity to reach 175 GW by the year 2022. India’s tropical climate condition favours the capability of renewable energy sources, among them direct use of solar radiation and wind can be harnessed effectively to increase the energy capacity. Solar is the most secure, copious and non-polluting source of energy. The photovoltaic system capture the solar radiation has emerged as global player and the government has targeted to install 100 GW (40 GW rooftop capacity) of grid connected PV installation by the year 2022.
The PV power plant located at Mechanical Engineering Department of SKIT, Jaipur is studied to evaluate the performance under the composite climate condition. The performance indices include the energy and economic parameters such as reference yield, array yield, final yield net present value, cost of energy and money payback period. The analysis involves a simulation tool PVsyst. The energy parameters found for the installed capacity also involve performance ratio, calculated throughout the year. The result shows the final yield for the plant as 4.5 kWh/kWp/day. The economic evaluation shows the money payback period as 4.2 years.