Abstract
The renewable energy resources have developed as an alternative source of energy. The world energy need is ever increasing. Besides there are environment consequences with the use of fossil fuel driven energy resources as they contribute to the increased carbon emissions. The recent development in solar PV systems is a boon for meeting the energy needs especially in metro cities. Solar energy is a clean and inexhaustible source of energy and its environment friendly nature gives it an edge over the other renewable sources of energy. This has accelerated the installation of grid connected solar PV system in order to satisfy the load demand. A 26 kW grid connected solar PV system is installed at Faculty of Engineering and Technology, Jamia Millia Islamia, New Delhi, India which is a part of making the university to become self-sustainable. The objective of this study is to do the economic analysis of a 26 kW solar photo voltaic system and also to show the economic comparison between the grid-connected solar PV system and a standalone solar PV system.
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